Long Live the Kings! The local landmark Kings Inn closed escrow today for $1,350,000 to 303 Reno LLC. The new owner expects to issue development plans in the spring for 142 unit of “subsidized” housing. We will never know all the complexities of this deal, but Reno pledged the entirety of next years $452,000 federal low cost housing grant to the project if it can qualify (was it a multi-year commitment? What about other deserving projects?), and Washoe was negotiating to forgive the property tax penalties outstanding on the project (and maybe the property taxes themselves). Sure hope that the mural/tag on the West Street side doesn’t turn out to be a Banksy and have the who project turn “historic”!
– Q & D construction has filed a Mechanic’s Lien and Notice of Lis Pendens for just shy of $6M against the owners of the Reno Technology Park. Think site of the Apple Cloud Farm east of Sparks, 200,000 SF and growing. Apple paid their share of the bill – the developers did not. The same development team is behind the Tessera project in downtown Reno, where Apple was planning to open their receiving facility to capitalize on their $89M tax break package. I get the distinct impression that Apple would rather switch to an Android operating system than place a facility in Tessera.
– Great VIDEO of the progress on the Downtown Reno Post Office project! Hey Apple, receiving docks, cool space, hip location for your workers. Wanna do lunch and discuss?