Las Vegas homebuilders are pressing ahead with new large-scale developments as they compete for buyers while waiting for the housing market to recover from a slowdown driven by high mortgage rates. KB Home, Lennar, Pulte and other builders have announced a wave of projects this fall.
KB Home unveiled Sandstone, a nearly 300-acre master plan within the Villages at Tule Springs in North Las Vegas. The development includes four communities with more than 1,500 homes, over 12 acres of parks, a trail system and a trailhead connecting to Tule Springs Fossil Beds National Monument. Prices start in the low $300,000s for townhomes and the mid $300,000s for single-family homes, topping out in the mid $400,000s.
"A big part of that is our commitment to affordability," said Jim McDade, president of KB Home's Las Vegas division. "We start in the low $300,000s, and there's not a lot of places you can name around town, if any, that have that." McDade called Sandstone the company's largest investment since Inspirada in the early 2000s and noted the timing is favorable as Inspirada is sold out and Cadence is nearly sold out, with no other major master plans coming online soon.
North Las Vegas Mayor Pro Tem Scott Black said the project represents a significant investment in the city's future, providing attainable homeownership while creating jobs and generating economic activity. KB Home also plans to move forward with Skye Summit in the northwest valley in 2027, where it owns 299 lots across 38 acres.
Sources: Las Vegas Review-Journal
Original reporting: Las Vegas Review-Journal →
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