Major homebuilder buys North Las Vegas land for $5.9M from religious group
The national home-builder D.R. Horton bought about 11 acres of land from the LDS Church with plans to build 81 homes on the land. Texas-based D.R. Horton has purchased about 11 acres of undeveloped land from the Church of Jesus Christ of Latter-day Saints (LDS Church) for $5.9 million, according to Clark County records. The LDS Church sold the land to D. R. Horton, one of the largest homebuilders in the U.S. with operations in 119 markets across 33 states, plans to build 81 homes on the land in a community called Tropical Falls, with the community expected to open in fall 2025. The church made a slight profit on this transaction, as county records show the Church bought this land in 2006 for $4.7 million. In a separate deal, the LDS Church is seeking approval to build a new 70,000-square-foot temple in northwest Las Vegas near Lone Mountain.
Pubblicato : 3 settimane fa di Sean Hemmersmeier in Business
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A vacant land at the Northwest intersection of Walnut Road and Tropical Parkway pictured, on Tuesday, June 11, 2024, in North Las Vegas. The LDS Church sold about 11 acres of land to D.R. Horton in North Las Vegas. (Bizuayehu Tesfaye/Las Vegas Review-Journal) @bizutesfaye
A vacant land at the Northwest intersection of Walnut Road and Tropical Parkway pictured, on Tuesday, June 11, 2024, in North Las Vegas. The LDS Church sold about 11 acres of land to D.R. Horton in North Las Vegas. (Bizuayehu Tesfaye/Las Vegas Review-Journal) @bizutesfaye
More new houses are coming to North Las Vegas as a major homebuilder has purchased about 11 acres for $5.9 million from a major religious group, Clark County records show.
Texas-based D.R. Horton bought just under 11 acres of undeveloped land at the northwest corner of Walnut Road and Tropical Parkway from the Church of Jesus Christ of Latter-day Saints on June 4, records show. The land is surrounded by other residential development.
D.R. Horton plans to build 81 homes on the land in a community called Tropical Falls, Tim Colbert, Las Vegas division president for the company, said. The community is expected to open in fall 2025.
“The plans for this new community consist of 81 home sites featuring our most popular floor plans, offering up to 5 bedrooms as well as all homes including smart home technology at no extra cost,” Colbert said in an emailed statement.
D.R. Horton is one of the largest homebuilders in the U.S. with operations in 119 markets across 33 states. The builder currently has 11 communities in North Las Vegas.
The LDS Church didn’t respond to a request for comment on the transaction. The church made a slight profit on the land as county records show the Church bought this land in 2006 for $5.7 million.
In a separate deal, the LDS Church is seeking approval to build a new 70,000-square-foot temple in northwest Las Vegas near Lone Mountain.
The construction plans for the Lone Mountain temple have been opposed by some community members, but plans for this temple were approved by the Las Vegas Planning Commission in May.