KB Home has completed the first land purchase in the Skye Summit master planned community on Las Vegas’ northwest edge, buying 38.6 acres for $46.4 million. The 505 acre project is approved for 3,500 homes, with KB planning nearly 300 homesites.
A major residential project is moving forward on the outer edge of the Las Vegas Valley after KB Home completed the first land purchase within a new master planned community. The homebuilder acquired approximately 38.6 acres along the north side of Tropical Parkway, west of the 215 Beltway, in northwest Las Vegas, according to property records.
The $46.4 million transaction closed in December and represents the first land sale to a builder in Skye Summit, a 505 acre development approved for up to 3,500 homes. The project is being developed by Olympia Companies, which will oversee construction of roads, trails and a 20 acre park adjacent to the community.
KB Home’s subdivision, named Vertice at Skye Summit, is planned to include 299 homesites. Company officials said land development is expected to begin in summer 2026, with home sales anticipated to start in early 2027. KB Home, which is based in Los Angeles, has a long history of building in Southern Nevada and is among the largest homebuilders in the United States.
Skye Summit follows a common development model in the Las Vegas region, where large scale developers assemble land, install infrastructure and sell parcels to multiple builders. Southern Nevada contains numerous master planned communities that combine housing with parks, trails and commercial uses.
Olympia Companies is led by founder Garry Goett and has developed other large communities in the region, including Skye Canyon in the northwest valley and Southern Highlands in the southern part of Las Vegas.