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Park Highlands Developers Sue DR Horton

LAS VEGAS-The 2,675-acre master-planned community is slated to include 15,750 home sites in 28 neighborhoods, 230 acres of commercial and 425-acres of parks.

By Brian K. Miller | Updated on June 03, 2008

LAS VEGAS-A group of companies involved in the development of the largest master-planned development in North Las Vegas are suing “America’s Builder” DR Horton for breach of contract. Filed late last week in Clark County District Court, the suit alleges that DR Horton subsidiary DRHI failed to meet its obligation to fund 20% of infrastructure costs for the 2,675-acre Park Highlands development and is more than $4 million in arrears.

The plaintiffs are November 2005 Land Investors LLC, a Nevada company that includes Olympia NLV Associates LLC and entities representing local homebuilders American West Homes and Astoria Homes, as well as a division of the national builder Standard Pacific Homes, together with project manager Summerset Development Services, LLC. The plaintiffs paid the Bureau of Land Management $639 million for the land in November 2005.

All parties but DRHI are current on their obligations to fund the development, according to the lawsuit. DR Horton has not yet been served with the lawsuit, according to court records, and did not respond same-day to a request for comment. The plaintiffs’ attorney, Mark E. Ferrario, also could not be reached Tuesday for comment.

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