The JV (joint venture) is becoming more popular as companies find they need partners to provide all the resources buyers want. In Las Vegas, a new JV between Lennar Corp., Shea Homes, and Woodside Homes, broke ground on a new master-planned community called Sunstone. Planned to open in 2021, the new community will provide a wide variety of homes for the Las Vegas market. Lennar is the managing partner.
Sunstone will bring more than 3,000 new homes to ten neighborhoods, offering a variety of designs for families at every stage of life including attached condominiums, single-family homes, move-up estates, and age-qualified residences. The setting for Sunstone will be outdoor recreation-focused, with about 15 miles of interconnected trails, two parks, active play fields, tot lots, activity stations, and more.
Lennar will build approximately 1,245 homes across five gated communities, comprised of single-family residences, attached multi-family homes and its innovative Next Gen–The Home Within A Home design for the ultimate multigenerational living experience. Each new Lennar home will feature its signature Everything’s Included upgrades and features such as state-of-the-art appliances, integrated home automation, and Wi-Fi, all at no additional cost.
Shea Homes will introduce its 55+ and resort lifestyle brand, Trilogy. Trilogy Sunstone is planned to include approximately 1,000 new homes comprised of single-family detached homes and duplexes featuring some of Shea Homes’ newest floorplan designs. These homes will also include SheaConnect, a suite of smart-home features designed specifically to ease daily life with energy efficient products and automation systems. The centerpiece of this development will be the resort club where homeowners will enjoy indoor and outdoor resort-styled amenities as well as trend-based lifestyle programming that encourages connection, wellness, and freedom. Notably, Trilogy’s lifestyle is not delivered by HOA or volunteer staff but by hospitality-trained teams.
Woodside Homes will apply its design-centric approach to create three distinct neighborhoods to provide approximately 627 new ownership opportunities within the Sunstone masterplan. Two neighborhoods will consist of two-story homes ranging approximately 1,600 to 2,700-sq.ft., while the third neighborhood will feature all single-story designs and account for approximately 210 of the total homesites.
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