– One of the linchpin properties in the “Tessera Distict” downtown is heading for the courthouse steps Wednesday at 10 AM. 606 NVA and an adjacent lot on E. 6th Street were the site of the infamous Gansta’ Dairy Queen.
Is the beginning of the end for Tessera? The developer has been delinquent on property tax payments for 2.5 years on most of their parcels (but not the DQ parcel). Go the Assessor’s site and enter the entities “Brown Investments” and “Northern Nevada Urban” into the Owner field, pick a property, and then click on Additional Tax Information”. Sheesh, doesn’t look like things are going too well. It amazes me that Reno didn’t have the foresight to tie the STAR Bonds the issued for the district to milestones like staying current on property taxes. It further amazes me that they negotiated the Apple deal with a scofflaw owner. The Quantum Investments parcels on the northern part of Tessera seem to be faring better.
– On the river kitty corner from the Aces Ballpark, the fenced off and weedy site of the proposed Waterfront Towers (photo above) condo project finally hits the courthouse steps a week later on 1 August at 11AM. The NOS is a little vague, but it reads like whoever buys this will also inherit the sales center – the temporary structure next to the Men Wielding Fire parking lot. Having this property go back to the lender is a great first step in finally getting the site improved. Maybe Reno can get 1st Street back!
– It’s not all gloom and doom downtown. The Nevadan project continues to have momentum, and has been openly discussed at a RAD meeting. The owners of the Virginian have been back in town and seem to have a renewed interest in their project. The proposed mixed-use project at the Woolworth’s building seems to have legs. The RGJ reported that the owners of Campo are taking over 2 floors of the JC Penny building.