Why Invest?

$130M Land Deal Outside Vegas to Double in Value

Publish Date : 11/13/2006 10:07:00 AM   Source : Investments and Finance News Onlypunjab.com

White Hills, Arizona is about to become the next suburb of Las Vegas once the Hoover Dam Bypass bridge opens in 2008. According to a local spokesman, "Real estate tycoons, land developers and major investment groups will be interested to know about two lots (640/625 acres) up for sale in White Hills for $130M, which will double in value once the bypass is completed."

 

Real estate experts estimate that the new bypass, scheduled to open in 2008, will knock 30 minutes off the commute and literally pave the way to a new Las Vegas bedroom community. Instead of winding their way for 3 miles over the dam, drivers will be able to take a straight shot across the Colorado River.

 

As major plans are already underway to create an oasis in the middle of Arizona desert, developers are anticipating an explosion in this area. The lots are close enough to be near all the action but far enough away to allow people to actually afford a home in close proximity to Las Vegas. Developers promise that home owners can look forward to getting twice the house at half the price, along with a much more convenient lifestyle out in the open space of the dessert.

 

Available lots up for sale include:
1. 640 acre lot (#15) 3 mile from Highway 93 @ $86,000.00 per acre.
2. 625 acre lot (#19) ½ mile from Highway 93 @ $120,000.00 per acre.

 

Additional information:
1. The area has been zoned for urban use including residential, commercial and industrial. 5 Single family homes per 1 acre / 12 townhouses per 1 acre or 25 condominiums per 1 acre. No greenery set-back due to desert living.
2. The Hoover Dam bypass will reduce the commuting time from Las Vegas to White Hills from an hour to about 30 minutes.
3. Highway 93 is designated by the federal government as the main leg of the CANAMEX corridor for international trade between Mexico, the U.S. and Canada.
4. Rhodes Homes received approval for his master-planned communities in White Hills.
5. Rhodes Homes sold 69 single family homes in four hours in September, 2005. Homes were being sold from $184,900.00 - $249,900.00 ranging in size from 1,623 - 2,360 square foot.
6. Projections show acreage in White Hills, Arizona will increase 50% by 2007 and 100% by the opening of the Hoover Dam bypass.
7. As of today the average single family home in Las Vegas, Nevada is $385,000.00, which is too expensive for the average blue collar worker, these workers are purchasing homes in Kingman, Arizona which is 45 minutes South of White Hills making their commute 1 ½ - 2 hours.