The Battle for the Soul of Midtown was lost a long time ago. Midtown Lofts will look bargain basement when Martin 3×3 comes on-line in a couple of months, followed in the Spring by Tonopah Lofts @ 1401 Midtown. I’m in Design Development on a $1M+ spec house on Mount Rose Street. That’s Midtown’s future
I don’t know what all the other for-sale developments in the pipeline propose, but I can assure you they are not affordable housing projects. And judging from the Cottage Row @ Midtown project, these will all be about 50% rentals or second homes.
Haskell Street will be seeing 20+ new rental unit, but they will be $1600 per month one bedroom units. I know of 6 other alley infills in permit or under construction that will be asking $2/SF/Month rents. The workers at Midtown establishments are going to have to start commuting in from Dayton and Stead to service the new Cake Eater class residents.
My job as an architect is to translate my client’s dreams and whacked out pro forma into profitable projects. I have designs for shovel ready for “affordable” units in Midtown, but why would any developer go that direction? Profit is King.
That said, I am stealth working on couple projects for workforce and age/income restricted housing projects both in Midtown and Reno/Sparks proper. Are you able to feel good about a 4 CAP that does good over a 9 CAP that does well? email@example.com
FYI the lead photo is one of the Cottage Row units. Why the perceived need for Wedekind level barred windows?