Walton Acquires 175 Lots in Two New Las Vegas Communities Planned for Residential Development by a National Homebuilder
SCOTTSDALE, Ariz. (May 14, 2021) – Walton, a real estate investment and land asset management company with US$3.39 billion under management has acquired 175 lots in The Trails and The Cottages neighborhoods in southwestern Las Vegas Valley located on the north and south side of Agate Avenue, east of Warbonnet Way.
The 17-acre tract of land is planned for 76 townhomes ranging from 1,310 to 1,433 square feet and 99 cottage homes ranging from 1,562 to 1,836 square feet offering homes for individuals, families with children and retired couples that will be developed from a top national homebuilder.
The Trails townhome community will feature four-plex buildings with 20-foot wide, two-story townhomes and two-car garages. A small grassy park for play and relaxation serves as a community amenity.
The Cottages community will offer small lot, single-family detached homes with three floorplans and distinct exterior styles.
Land development is anticipated to begin in the fall of 2021 with home sales expected to start in the summer of 2022.
The Las Vegas-Henderson-Paradise market is located 12 miles southwest of downtown Las Vegas and within 30 minutes of employment centers including major hotels and casinos, McDonald’s Greater Las Vegas Operator Association and Southwest Medical Associates/United Healthcare. Located near the SR-160, the communities offer convenient access to the northern portion of Las Vegas. Grocery, fast-casual dining, schools and a medical center are all within a 10-minute drive from the new neighborhoods.
Las Vegas’ annual population growth has been stable over the past several years and John Burns Real Estate Consulting forecasts that the population will continue to grow over the next four years.
“We couldn’t be more excited to be in the Las Vegas market to support new home inventory for their growing communities,” said Ed Hadley, Executive Vice President of Builder Land Acquisition for Walton. “This is our first Land Acquisition Development (“LAD”) project in Las Vegas and we look forward to bringing more opportunities to homebuilders and to the metro area in the near future.”
Walton’s portfolio of more than 105,000-acres located across the United States and Canada, provides
a scalable land acquisition platform to support homebuilders with just-in-time inventory. Walton’s approach is an innovative response to secular shifts in the land development industry.
For more than 42 years, Walton has researched, planned, and structured pre-development land investments located in the major growth corridors throughout the United States and Canada. The evolution of Walton has opened the door to creating additional opportunities for investors and homebuilders alike.