From Plaza at NightThe Woolworth’s building at 101 NVA, along with the old jewelry store / former Good Luck Macbeth Theater, changed hands today for $1,700,000.  As reported in the NNBW, the plan is to convert the 1st floor into a new downtown grocery store and the basement into parking.  I’ve heard that the 2nd floor is planned for a nightclub, the 3rd floor maybe become a health club, and there are no real plans for the upper floor office spaces yet.  Parking is a huge issue, and most of the “historic” jewelry store that is a gravity storm waiting to happen will have to be demoed for a ramp to the basement/

The buy is Battle Born Properties LLC, better known as Jamy Keshmiri – owner of the Ben’s Liquors franchise and partner in a trio of “gentleman’s clubs” including the Wild Orchid on South Virginia Street.  No, the Wild Orchid license is not transferable to this location!

This is the first domino to fall of the 4 or 5 (6 with some luck) major, transformative projects about to be announced in downtown Reno.  Microsoft/Siemens/UNR.  18,500 SF UNR lease.  Apple (nope, it isn’t dead, just a new and improved location).  There are signs that the Virginian is back in play.  And Reno’s favorite eyesore is reported to be in contract but the sale hasn’t recorded yet so I won’t comment yet.  I took a load of crap predicting this around the first of the year!

You can see what a group I was associated with was proposing for the property HERE.  We bailed due to the $6-10M cost just to get the building into code complaint shell condition.  It sure would have been a lot of fun completing the residential portion of the project – the views are amazing.  Just another one that got away, at least for now.

Idiot move, or the start of something big?

Advertisements