Toll Brothers has plans for a large community in the master plan of Summerlin in Las Vegas. The Review Journal reports:
Property records show Toll Brothers bought about 128 acres off Town Center Drive near Tropicana Avenue for $69 million last week, three months after the builder received county approvals for a 324-home development there.
“This is a pretty exciting deal for us,” said Toll group president Gary Mayo, who oversees Las Vegas operations.
The land sale was bigger than usual for Summerlin, Las Vegas’ largest master-planned community, and comes as the valley’s homebuilding market gains speed with rising sales and prices.