Kanye West has already conquered the worlds of music and fashion. Next up on his résumé: real estate.
The 41-year-old rapper is “in the early stages of building a real estate development” outside of the Calabasas neighborhood of Los Angeles, a source close to West tells Us Weekly exclusively.
“He bought the property to build a community,” the source reveals. “It will be a residential community with private homes. He’s getting into real estate. He has very ambitious plans to build this.”
West and his wife, Kim Kardashian, currently live in L.A.’s gated Hidden Hills community with their three children: North, 5, Saint, 2, and Chicago, 10 months. Many of the Keeping Up With the Kardashians star’s famous family members live just minutes away in Calabasas.
The 21-time Grammy winner and Kardashian purchased their French Country-style home in Hidden Hills for $20 million in 2014 and spent another $20 million on renovations, according to TMZ. With all of the new updates, the sprawling estate, which sits on three acres of land, is now worth a reported $60 million.
West has expressed a desire to get involved with real estate in recent months. “I’m going to be one of the biggest real estate developers of all time,” he said in May during a video interview with Charlamagne Tha God. “Like what Howard Hughes was to aircrafts and what Henry Ford was to cars.”
The Yeezy designer ended his nearly two-hour conversation with the radio personality, 40, by saying, “Yeah, we gon’ develop cities.”
Sign up now for the Us Weekly newsletter to get breaking celebrity news, hot pics and more delivered straight to your inbox!