Back in December 2010, I wrote about Rising Tides LLC and their purchase of the bankrupt Kiley Ranch project for $9.8M. The buyer was an LLC with interesting ties to the Mathewson’s and IGT.
Last week at a City of Sparks council meeting, a new Development Agreement for Kiley Ranch had its first reading, listing the owner as Rising Tides LLC and the Master Developer as KM2 Development, Inc. KM2 has the same slate of directors as Rising Tides. There was mention of preliminary Project Books (CCRs and design standards) and phasing, but none of these documents show up in the public record.
So it looks like the tide has turned, and Kiley Ranch is gearing up to start development again.