– Washoe Grille on W 4th Street has changed hands for $1.4M. The buyers are the Whispering Vine folks, who have also applied for a new liquor license. Lots of land behind it to develop.
– The Arterra development site at Sierra and Liberty just sold for $1,081,510 to the neighbor to the West. I doubt we will see a $500/SF condo tower this time.
– The Trustee’s Sale for Lakeridge Tennis Club has been postponed until 25 July with over $10M owing.
– You can buy the Caughlin Club for $4.8M. The club is private and not a part of the CR amenities.
– Donner Guest Trail Ranch straddles the Washoe and Sierra County CA line in Verdi. You can buy 6.8 Acres on the NV side for $800,000 or 1491 acres on the CA side for $4,000,000. There are shared service agreements between Sierra and Washoe Counties – Verdi CA residents attend Washoe schools and have Washoe service and Truckee Meadow Fire service. Major development here could be a disaster.
– Closings to watch for: Edge Water at Virginia Lake is the condo and apartment complex going up on the east shore of Virginia Lake. I have never seen an offering sheet for the condos, but they are scheduled to start closing anytime now. Watch for SWD NVL LLC deeds on the Recorder’s site. The sold-out-but-price-increased Cottage Row at Midtown should also start closing soon. Watch for Cottage Row At Midtown on the Recorder’s site. This will either be a sham or set the new benchmark for Midtown comps.
DR Horton finally unloaded the shovel ready project outside the gates to Somersett to Jenuine Communities for $2.3M (Villa Toscana?). Originally designed as triplexes, Horton pulled the plug and redesigned the site for SFRs. Then pulled the plug again. The NW need new building stock. Lennar is the only production builder active in Somersett, and they seem to be taking a hiatus.
– Where is the building boom? There haven’t been more that 20 new SFR permits pull puller per week in several months. Almost all are South Meadows.
There. Enough to get the discussion going again?