April 16, 2014

Developers moving forward on huge North Las Vegas master plan community

By Conor Shine
Las Vegas Sun

Developers planning to build 15,000 homes in North Las Vegas told the city council today they hope to have shovels in the ground before the end of the year on one of the largest housing developments to come to Southern Nevada since the recession.

The North Las Vegas City Council first approved plans for the 2,600 acre Park Highlands master planned community in 2006. But the economic crash and several bankruptcies kept the project located near Aliante Parkway north of the Las Vegas Beltway from ever materializing.

The project’s rocky history has resulted in eight different companies owning parcels of land in the development.

Wednesday night, a representative for those companies told the city council that a plan was in place that could see construction start in late 2014 or early 2015.

The plan presented to the council would split the Park Highlands development into two separate master planned communities instead of just one.

The two communities would be completed in separate phases, with the first comprising 4,000 homes on a 600 acre parcel.

An amended development agreement will be presented to the North Las Vegas City Council next month and if approved, construction on the first phase would begin within a year, attorney Bob Gronauer said.

A second phase consisting of 11,000 homes built on 2,000 acres would be developed later, he said.

Altogether, the project is expected to cost $3.2 billion over 15 years of construction.

Wednesday’s announcement was heralded by city officials as a sign of the city’s changing fortunes after years mired in an economic malaise.

If successful, the Park Highlands development would be the largest to come to Southern Nevada in years.

"The regional significance is great. Wall Street, investment bankers are coming back into this valley saying ‘We believe in this region again,’ " Mayor John Lee said. "I’m just glad that they’ve chosen North Las Vegas to plant their flag in the ground. We’re showing America … that we’re open for business again."

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