NORTH LAS VEGAS, NV—The North Las Vegas CityCouncil has approved a new development agreement for the600-acre Park Highlands West community, which willbe developed by SunCal.
Park Highlands West was part of the overall Park Highlands masterplan that was originally purchased by a consortium of builders for$635 million in 2006. Last week's councilaction divides the area into stand-alone West and East masterplans. SunCal, one of the largest real estate developmentcompanies in the US that specializes in large-scale, mixed-usemaster-planned communities, purchased 208 acres ofthe partially developed West property in 2012 and will also serveas the master developer for the entire 600-acre project.
"We're very pleased to be working closely with the City to movethis development forward," said Frank Faye, SunCalEVP. "This approval will significantly expedite thedevelopment of the Park Highlands West master plan."
Park Highlands West is one of the last remaining large-scaledevelopment opportunities in the Las Vegas area. It offersfuture residents easy access to job centers inSummerlin and the casino area viathe recently complete I-215 beltway south of the project andHighway 95 located three miles west of the site.
The project site is bordered on all four sides by existingresidential and retail developments. Areaamenities include a regional shopping center, a newhospital and a casino that includes a movie theater andnumerous dining outlets.
SunCal acquires, entitles and develops major residential propertiesand commercial developments. The company creates distinctivemaster-planned and mixed-use communities that emphasize quality oflife, environmental sensitivity and recreational opportunities.