While Reno continues to struggle to attract any meaningful Downtown housing development, Sparks has managed to get 1670 units underway with more planned. Why? And why isn’t Reno more effective realizing their Master Plan objectives?
- They have proactively and constructively worked with the development community to achieve their Master Plan goals.
- Sparks is a known quantity for developers – they stick to their codes and agreements.
- Sparks is closer to the center of gravity of regional job growth – TRIC.
- Old redevelopment mistakes left Sparks with land to develop. Reno has it’s own legacy of redevelopment mistakes, but not the legacy of resulting desirable properties. And what Reno has is tossed away.
- Comment from a Sparks developer: “Though we had enjoyed a long and continuous relationship starting in 1995, we have simply found the Reno Council methods of operation to be too difficult to pursue redevelopment in Reno’s downtown without assuming much higher risks than typical in the business. Missing the timing of this current economic cycle to initiate this objective is certainly unfortunate for everyone that makes NNV their home.”
Here are the current 873 units surrounding Victorian Square:
- Fountainhouse – 220 + 18 units = 238.
- Bridges – 194 unit.
- Square One – 100 units.
- Deco – 209 units (could Reno’s Parking Galleria do this?).
- Atrium – 132 units.
- The Future Development in the center is the Promenade – specifics to follow soon.
Just 2 mile to the East at Sparks Marina, another 797 (maybe more) are under construction:
– Lyfe – 280 units.
– Azure – 308+ units.
– Waterfront – 209 units.
Reno’s twerpy kid brother has grown up and is turning into Prince Harry instead of Wills. Well played!