Just a bunch of random item to keep you amused:
– For the first time in 8 years, units at Smithridge are selling north of $100K. These were trading for $225K at the peak.
– Single Family Homes coming to Keystone Canyon. If you can read topo maps, so will see this will require a lot of terraforming to get in 109 houses.
– Upstream out on Dickerson Road is Back. Sold out of foreclosure 2.5 years go for $1.125M and included 90 vacant townhouse lots and 6 or 7 finished townhouses. The lots just changed hands for $1.548M. About a million and a half profit on a million dollar investment is pretty good ROI.
– Also out on Dickerson, the Generator tried to lease option some of Reno’s Retrac land for a sculpture park, artist residences, and a new 50,000 SF co-working facility. They ran into an absolute shit storm of unexpected opposition. Issues ranged from the perceived sweet heart no bid land deal, to a NIMBY outpouring from the future owners of the Chism House and Trailer Park. So the Generator is getting relocated to less desirable (but more appropriate) Retrac land east of Wells, the Chism’s get some land back. No word on what the new owners plan to do with the trailer park.
– Lennar is getting into the rental SFR business with their Frontera project. Expect this to be a virtual man-camp for the Tesla factory construction crews. They know the construction will go on for a limited time and don’t want to buy, credit is still tight, and a lot of the trades have had their credit wrecked from the effects of the Great Recession. I think this will be a home run.
– D’Andrea Country Club is facing yet another day on the Courthouse steps (actually the County Commission chambers). For $461,954.07, it can all be yours at the Delinquent Tax Sale on 22 April.
– As the City Council was reviewing their Legislative agenda, a surprise new Bill was discussed. STAR Bond Districts are in effect for 20 years after the date of the districts’ establishment. The Bill allows that to be able to be extended in Districts that were established but no construction occurred for 5 years. The ONLY District in the State that the Bill applies to our very own Tessera District! Kudos to Jenny Brukhus for being the only council person to cry bullshit.
There, that should give you enough to chew on for a few days. Next up will be a review of a couple interesting projects going up (and down!).