Has it really been 5 years already? The Copper Canyon development by Suncal in East Sparks was the first major developer default I ever came across. That led me into my dubious career as a data digger, and the rest is history.
Copper Canyon was an extremely ambitious project, covering over 1500 acres east of Vista and adjacent to D’Andrea. Plans called for 2109 residential units, a town center retail complex, and a large amount of office and R&D space. HERE is the site plan. The Copper Canyon 1 video is fun to watch, too, though there is realtor music in the background.
Suncal missed the July 2007 payment on their $40M loan, and the property went back to the lender in June 2008. On 15 February 2013, the property was sold to Copper Canyon Partners LLC for $5.5M. This LLC has the same address and same directors as Mid Valley Engineering out of Stockton, the original land planner on the project. Mid Valley had been in litigation with Suncal and the subsequent TD owner, but released their Lis Pendens the day before the deal closed.
Is Copper Canyon coming back? There is no infrastructure in place, so development would be costly. In fact, Sparks dodged a major bullet when Suncal tanked the project before site work could scar the hillside. But it is a viable site on major transportation lines and in near proximity to Reno Tahoe Industrial Center (TRIC) and Reno Technology Center (Apple server farm).