LGI Homes has closed on 102 partially improved lots in North Las Vegas, cementing the Texas firm’s entry into the Las Vegas housing market.
According to Chris Kelly, president of LGI’s Phoenix, Ariz.-based western division, the community is expected to start construction in May with a grand opening on September 15th. Prices are expected to be in the low $200,000s.
LGI officials have determined that they can develop four to six new neighborhoods in Las Vegas within the next two years. “For our business model, we’re focused on renters (of homes, condos or apartments) and making them first-time homebuyer,” Kelly says.
Last year marked the strongest year for sales in Las Vegas since the housing collapse ten years ago.
LGI Homes is the country’s 15th largest builder according to BUILDER Magazine’s the 2017 Builder 100, with 4,163 new home closings in 2016.
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