Here's a bit of backstory on the man who sold American West Homes to PulteGroup last week, via the Las Vegas Review-Journal:
After building houses in Las Vegas for decades, Larry Canarelli has cashed in and sold his local construction operations to a rival developer.
Canarelli, founder of Las Vegas-based American West Homes, said last week that he sold the firm’s homebuilding operations to PulteGroup.
He declined to disclose the full terms but confirmed that Pulte acquired 1,200 lots comprising 200-plus acres for more than $150 million. Pulte also has an option to buy an additional 2,400 lots comprising about 450 acres, he said.
The land is concentrated in the southwest and southern Las Vegas Valley.
Canarelli, 72, told the Review-Journal that he still owns more than 6,000 acres of land in Southern Nevada. But with the sale to Pulte, he has stopped building houses.
