Big changes are coming to the heart of the Biggest Little City, as many downtown Reno developments are either being built or planned.
During a Downtown Hall on Economic Development, the Downtown Reno Partnership revealed several exciting new developments, including beautification efforts and residential, medical, hospitality, and student living projects.
“To see the evolution of downtown and to see the impact of the Downtown Reno Partnership is really great,” said Par Tolles, the chair of the Downtown Reno Partnership board. “I love Reno more and more, and the momentum that we have is really exciting.”
These downtown Reno developments will continue to transform the area and make it an invigorating environment for both locals and visitors, said Alex Stettinski, the executive director of the Downtown Reno Partnership.
Downtown Reno Developments You Need to Know About
Court Street Project and Kimpton Hotel
The dirt lots surrounding the Park Tower on the Riverwalk condominium building in downtown Reno near the Truckee River is set to become a mixed-use project, anchored by Kimpton Hotel. The San Francisco-based hotel franchise is building its first property in Reno in partnership with developer CAI Investments, a Las Vegas-based developer.
This downtown Reno development will feature 20 stories with 270 rooms, 50 private condominium residences, 60,000 square feet of office space, and 20,000 square feet of meeting space for use. Kimpton is an award-winning luxury hotel brand with 76 boutiques in 48 cities. This location will be the first ground-up, luxury built hotel in Reno. The timeline for the hotel is currently pending permit approval.
Reno City Center
The renovation of Harrah’s Reno will feature 530 market-rate apartments, 150,000 square feet of new office space, 78,500 square feet of retail, and a public green space plaza.
CAI Investments, the company behind the purchase and renovation of the more than 80-year-old property, will use Opportunity Zone funding for the project. That means it must follow a strict timeline of 36 months to finish the construction and work. Perhaps the most exciting is the green space plaza, which will turn the fenced-off Harrah’s plaza into an open garden and public space for tenants, customers, and tourists. This location has the potential to revitalize the area in a significant way.
The ReTRAC Plaza between the Eldorado Casino and the Whitney Peak Hotel will be part of a beautification project that will include a new mural, 20 new trees, and more than 1,600 plants and flowers. Designed for event space and general beautification, it also has a cement cut-out to allow the Eldorado’s delivery trucks plenty of space to safely drop off deliveries.
“This can really become a great anchor point that started in downtown for more vibrant things to come,” Stettinski said.
This project is thanks to the Nevada Main Street program, which awarded a $50,000 grant to the Partnership for this project. The national program, Main Street America, is a movement toward preservation-based economic development and community revitalization in districts across the United States. Downtown Reno was the first urban main street district in Nevada.
Located on the corner of Fifth Street and Keystone, this massive mixed-use development will have residential and commercial spaces, giving this corner a much-needed revitalization. Permits for an In-N-Out Burger have also been submitted to the City of reno. Like the Kimpton Hotel, the timeline for completion will depend on permit approval.
Reno Orthopedic Clinic’s massive facility expansion will be finished this fall and will become the area’s only orthopedic urgent care and large orthopedic facility. The $54 million investment includes a 76,000-square-foot expansion that will double the number of exam rooms.
There are several student-living projects in the works, reflecting a growing student population and furthering the area’s identity as a college town. Visible from the freeway, Tolles Development Company is building a student-centric commercial center that could possibly feature a coffee shop, sandwich shop, and retail designed for students at 705 N. Virginia St. This should be complete in about a year.
Not far from there is Canyon Flats, a nearly-finished student living complex that will house up to 508 students with 158 units. One block east of that is 661 Lake Street, a six-story housing complex that can house over 600 students. Development plans were recently amended to also include a 13-story, 275-unit residential tower of market-rate apartments, which will be completed in 2022.
The University of Nevada, Reno is also working on a number of projects as part of their University Gateway project, which will include a skyway bridge across Virginia Street and an RTC Rapid Transfer Station. This will also be completed sometime between 2021-2022.
All of these downtown Reno developments are set to change the face of the heart of the city and create more opportunities where people can live, work, and play there.
At Dickson Realty, our team of local experts knows about the latest building activity in Northern Nevada, including downtown Reno developments. To learn more about how to enjoy the Reno/Sparks region, contact one of our Realtors today.