DEVELOPABLE RESIDENTIAL land in the Las Vegas Valley now costs in excess of $750,000 an acre, so it certainly turned a few heads earlier this year when Pulte released that it paid roughly $40,000 an acre for land in Mesquite, Nev., about 80 miles north of Las Vegas.

Steve Wethor, president of Pulte's Las Vegas North Division, says that the company plans to build Anthem Mesquite, a master planned community, on 2,014 acres. Anthem Mesquite will largely consist of Pulte's well-known Del Webb Sun City active adult brand, with a mix of traditional single-family and multifamily homes. The builder broke ground on the project in the spring after paying $79 million for the property.

“Mesquite is desirable because there's plenty of groundwater, plus the water and sewer lines exist close to the property boundary, so it can be extended out,” says Wethor, adding that Mesquite is located about an hour from four national parks and is about a 75-minute drive from McCarran Airport.

Learn more about markets featured in this article: Las Vegas, NV.