You may know it as the Regency at 1150 W 2nd Street. But in better times, it was the Motel Mirador, and exquisite stop along the Lincoln Highway.
Alas, time was not kind to the Mirador, and it became the Regency. This picture is from 1999, and it looks a lot worse today.
The Mirador / Regency even plays a key role in the Ghost Pools of Reno video.
Purchased for $1.8M in 2008, and then literally abandoned, the Regency went back to the bank in March. Nevada State Bank never really marketed the property, and quickly sold it to an Arizona fund for $425,000 even though they knew we had a more competitive offer in the works. So the property will probably be repositioned as another weekly motel and continue to drag down the neighborhood.
What could have been? My plan was to combine the 55 units to about 25, add a “crystal cube” living room under the canopy for each unit along with private garden spaces, a dog park for the residents shared with a retail coffee shop in the admin building. HERE is the preliminary site plan, and HERE is what I thought we could do to the existing units to make them relevant in today’s market.
I hope someone with a vision for the West Powning neighborhood ultimately ends up with this property. If you haven’t been down there lately, you will not believe how far the area has already morphed, and the cool artist community that is taking root on Dickerson. If I seem a little bitter, it is because I REALLY would have enjoyed producing this project and believe NSB hosed my team (and their stockholders) with an insider deal that will end up being a lowest common denominator Hobotel. Get on this one, you historic preservation types!
Another one that got away was 7655 Town Square in Somersett. Anyone interested in what could have been?