Residential Development to Feature New Cottages and Townhomes
Walton, a leading land asset management and global real estate investment company, confirmed that the top homebuilder by volume in the U.S., D.R. Horton, executed their option to acquire 175 lots from a Land Acquisition Development (LAD) project that Walton calls Agate Warbonnet ahead of schedule. The residential lots are in the southwestern Las Vegas Valley located on the north and south side of Agate Avenue, east of Warbonnet Way.
D.R. Horton plans to develop two distinct communities – The Cottages and The Trails. The Cottages community will offer single-family detached homes with three floorplans and distinct exterior styles. The Trails townhome community will feature four-plex buildings with 21-foot-wide two-story townhomes. These homes will help meet the high demand for individuals, families with children and retired couples searching for a new place to call home.
The Trails features 99 townhomes ranging from 1,319 to 1,437 square feet and The Cottages will offer 76 single-family detached homes ranging from 1,562 to 1,837 square feet on the 17-acre total tract of land. A small grassy park for play and relaxation is also planned to serve as an attractive community amenity. Additionally, the community is less than a mile from the 80-acre Exploration Peak Park.
Home sales for both The Cottages and The Trails are expected to start in the summer of 2022.
“Las Vegas is a new market for Walton, so we are very pleased to work with D.R. Horton on this development,” said Ed Hadley, Executive Vice President of Builder Land Acquisition for Walton. “We anticipate that this is the first of many more opportunities in this market that will bring land inventory to the metro area at an accelerated pace.”
”We are appreciative of our relationship with Walton and anticipate more opportunities to work with them in Las Vegas,” said Tim Colbert, City Manager for D.R. Horton’s Las Vegas division. “These two communities will serve as a great example of what our organizations can accomplish together.”
Located near the SR-160, the two 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. 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.
Walton is a privately-owned, leading land asset management and global real estate investment company that concentrates on the research, acquisition, administration, planning, and development of land. With more than 42 years of experience, Walton has a proven track record of administering land investment projects within the fastest growing metropolitan areas in North America. The company manages and administers US$3.4 billion in assets on behalf of its global investors located in 71 countries, builders and developers and industry partners. Walton has more than 98,000 acres of land under ownership, management and administration in the United States and Canada with business lines ranging from exit-focused pre-development land investments, builder land financing and build-to-rent. For more information visit walton.com.