The Chism Trailer Park just closed escrow for $4,975,000. The new owner has commented on expanding the event center facility, but has been silent on plans for the trailer park. The Chism’s ran a quite, relatively safe refuge for a 100+ low income households, and it is difficult to imagine how those folks will be able to assimilate assuming redevelopment is looming.
The Bourbon Street Casino in Sparks just closed escrow for $3,800,000. Instead of the “local developer” claimed to be the purchaser, the new owner is LandCap Investment Partners LLC out of San Juan Capistrano CA. The do, however, count Marina Village and Marina Gateway I and II as part of their portfolio, so I guess that counts as local.
Remember Project 8 at 888 Mount Rose? It just sold for $1,550,000, only $50,000 below asking to the Bay Area (former?) owner of the Simplified Bee web commerce site. Renovations are already underway and it appears that the site will stay a water and land pig in the middle of town.
Speaking of water and land pigs, I had the opportunity to take a run at 775 California Street recently. It sits on 3 riverfront acre zoned SF9 with the 6400 SF main house, a pool to die for, and a 2500 SF caretaker’s house / pool house. It is currently listed for $1,790,000 down from $2.8M originally. You could easily subdivide off 3-4 lots on California, renovate the pool house, and maybe nuke the pool itself for an additional lot. The renovation of the main house was featured on HGTV and I thought it was going to be spectacular. It wasn’t. Original single pane windows. Original asbestos encrusted oil furnace. No AC. Modern kitchen totally out of scale (small) for an estate like this. “Tahoe Room” scabbed on which was actually a pretty cool space, but completely at odds with a unified design concept. The main house in itself should fetch $1.2M+ in the Newlands market, but it will take $500,000+ to get there. So this one will sit another 5 years. At least they are keeping their evil green grass green. If anyone would be interesting in a scrape and redevelopment project (cultural suicide in Newlands on a non-historic historic house but the right option), give me a shout at macnv@charter.net.
No new Seagull Sweets action lately. I can’t find any active permits on any of his so called projects.
Dog walk time! What do you think?
REreno 
Sara Lee said:
“Dog walk time! What do you think?”
Couldn’t be more happy to hear that 888 Mount Rose sold to an actual homeowner with plans to fix it up, versus the “Fuck Your Neighborhood” turn & burn “Cottage Row” approach at 300 Mount Rose by Tanamera.
Look at some of the projects in that neighborhood and it’s pretty easy to see that everyone wins (and by “everyone,” I mean those that want to develop and maintain a nice area) when homeowners buy properties and restore them up.
Look at the Mapes Mansion on the corner of Arlington & Mount Rose. It’s a real gem and full marks to them for putting in the time, effort, and $$$ to do a project right.
Sure, I get it, you look at the square footage & zoning of a property and start dreaming up ways to pack in projects to maximize return. But for those of us that actually live in the neighborhood – and have been here for multiple generations – we’re basically getting shat upon by outside investors and developers who have no love for the area.
Cottage Row is, I guess, one of the better-case scenarios that could pan out in such a situation, but it still destroys the character and heritage of a significant property in one of the few neighborhoods in Reno that has history and still maintains it to a certain degree (however diminished).
If that’s the better-case scenario though, look at what they’ve done with the huge piece of land on the east side of Arlington between Shangri-La Drive and Plumb. Piece of shit McMansions that are already in disrepair, with vacant dirt lot(s) sitting around them waiting for another turd to be plopped in.
Not everything has to be “maximized,” especially when the people in this town doing the maximization are obviously of extremely limited skill set.
Anyway, hope you & the dog enjoyed the walk!
Michael Dennis said:
775 C actually started out a Three million nine fifty, then in Dicksons infinite wisdom jumped up to four million four forty five, then dropped to two million eight fifty and then to two million two fifty and then one million seven nine five and now ninety. It says river lots but it is looking over keystone more than the river.
Patricia Brooks said:
Dog(s)
JR said:
Sara Lee – I am curious about your immense dislike of the current Cottage Row project on Mount Rose? I do agree that portions of the original house have been absorbed for additional housing units, which is unfortunate, however as a fellow resident in the area it is nice to see a local developer actually “put their money where there mouth is” and commit to a project that does seem to better the neighborhood. Would you prefer that the two dirt patches on either side of the rock house stay dormant? Or how about the prior developer’s concept of fitting in over 40+ east coast style townhomes that Mike has featured on this website? IMO while clearly over maximizing the house space on each lot, at least we have a developer placing similar style housing (not your traditional stucco / tile / front load garage) into the characteristic neighborhood that we all enjoy. If this group can truly command the pricing they are showcasing online and clean up a quasi blighted street in the process, then surly this has to be a benefit for the neighborhood, no?
gpotnick said:
There are numerous transactions out of the public eye occurring in Verdi and surrounding Sphere of Influnce/Annexation issues and Washoe County.
Development is a tidal wave coming at us all. Get involved as the posters on this site surely are. City and County both have email blast sign ups and post agendas, video and minutes almost immediately. If we do not prepare, be aware and do not complain afterwards after it is said and done. Organize, group, media share and above all, get involved. Not directed to the posters, only those that read and do not take affirmative action.
Greg Potnick- Verdi
PS- Keep in mind the new opportunity for facitlities that will fulfill medical marijuana needs and the ballot initiative forthcoming. Just a fact, not indicative of any intent or property acquistion.
Zen said:
Sara Lee, you took the words right out of my mouth, only probably a little better stated. That neighborhood is a multigenerational gem in this city and should be preserved for generations to come. We don’t have as much history here out west as you get back east and we should try to keep what little we have intact. I love that there are small lot bungalows along side big lot mansions built over decades and decades of changing architectural styles, all mixed up in such graceful harmony. There truly is no finer looking neighborhood to walk through in town and enjoy unique architectural and landscaping diversity. Let’s not screw it up!
Midtown Homeowner said:
“Evil green grass.” Love it.