The City of Las Vegas has reached a resolution on the Badlands site after years of negotiations and legal disputes. Mayor Shelley Berkley announced plans to develop housing on the 250-acre property, according to FOX5 Vegas.
Las Vegas has concluded a costly legal dispute by paying approximately $636 million last year to acquire the Badlands property, a 250-acre site previously owned by developer Yohan Lowie's EHB Cos. The conflict, which began over zoning issues after Lowie purchased the land in 2015 for a housing project, has now been resolved with the developer dismissing all litigation against the city. The property is set to change hands again, as Lennar Corporation will acquire it from the city for $350 million, paving the way for nearly 1,500 new residences. As Mayor Berkley stated, "The city has paid to acquire the remaining real property comprising all parcels, which totals more than 250 acres," as reported by News 3 LV.
Lennar Corporation will develop nearly 1,500 residences on the acquired land as part of an agreement with the city. This resolution resolves a legal dispute and allows Las Vegas to focus on future growth and housing needs. "All parties agree this resolution is in the best interests of the city of Las Vegas and its citizens," Berkley said in a statement obtained by FOX5 Vegas.
