That’s the mild mannered agenda item for this Wednesday’s Council meeting. But when you open the staff reports, this is an opening salvo in a $1.2B redevelopment along W 2nd Street. 2000 thousand new housing units across 17 acres, 2 hotels, and a scad of retail and commercial space. HERE is the project location.
What is actually being agendized is a discussion to enter into negotiations on a Development Agreement. The city’s consultant has identified $46M in new property taxes from this development, and the Developer will most likely want it all credited back.
This a grand scheme to say the least, and would be a game changer for Reno as a City. It spans 3 districts in the DRRC regional plan, but Reno will rewrite any and all codes to approve this project.
From my rough calcs, Clarksville will be about 120 units per acre minimum plus the retail and hotels. Palladio and Riverwalk are about 165, Montage is 255. I hope that gives you an idea of the proposed density – the entire site built out to Palladio density.
This is a developing project and story. I wish the applicants the best of luck on this first baby step. I’m not sure if I can support the proposed project in its entirety, but I haven’t seen the whole project yet.
This is going to get interesting! What exactly is the “City Deal” referenced in the report and map?