LAS VEGAS-A bankruptcy court in Las Vegas has approved the planof General Growth Properties Inc. to auction off 60 acres of landin Summerlin residential development in Las Vegas. The lead biddersfor the plots include Richmond American Homes, which has offered$18 million for 32 acres, and PulteGroup Inc., which is offering$20 million for 31.5 acres.
General Growth had acquired this land along with Rouse Co. in1996. The site houses about 100,000 residents and has 25 schools.For the full story, go to Wall Street Journal.
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