Post by Logan on Apr 26, 2016 1:23:50 GMT -6
$1.2B downtown Reno redevelopment project to be unveiled this week
The developers of a $1.2 billion redevelopment project with the potential to dramatically reshape the character of downtown Reno are set to publicly unveil the details of their proposal at a Reno City Council meeting Wednesday.
The proposal will also come with an ask: City land from the abandonment of two city alleyways, a parking lot and a downtown street, as well as millions of dollars in future property tax revenue expected to be generated by the project.
The West Second Street District project proposed by the local architect-led Don J. Clark Group is expected to include 2.3 million square feet of residential space, two non-gaming hotels, 700,000 square feet of office and retail space and more than 5,000 parking spaces on 17 acres of distressed downtown property bounded by the train trench on the north, First Street on the south, Arlington Avenue on the east and Washington Street on the west.
Clark and his team will present the project details, including renderings, as well as a general concept for the development agreement on Wednesday. But a city staff report described the project as an "urban live-work concept" that "proposes urban infill and revitalization for a sector of the urban core specifically targeted for redevelopment."
Read more: www.rgj.com/story/news/2016/04/25/1-billion-dollar-downtown-reno-redevelopment-project-unveiled/83518676/
The developers of a $1.2 billion redevelopment project with the potential to dramatically reshape the character of downtown Reno are set to publicly unveil the details of their proposal at a Reno City Council meeting Wednesday.
The proposal will also come with an ask: City land from the abandonment of two city alleyways, a parking lot and a downtown street, as well as millions of dollars in future property tax revenue expected to be generated by the project.
The West Second Street District project proposed by the local architect-led Don J. Clark Group is expected to include 2.3 million square feet of residential space, two non-gaming hotels, 700,000 square feet of office and retail space and more than 5,000 parking spaces on 17 acres of distressed downtown property bounded by the train trench on the north, First Street on the south, Arlington Avenue on the east and Washington Street on the west.
Clark and his team will present the project details, including renderings, as well as a general concept for the development agreement on Wednesday. But a city staff report described the project as an "urban live-work concept" that "proposes urban infill and revitalization for a sector of the urban core specifically targeted for redevelopment."
Read more: www.rgj.com/story/news/2016/04/25/1-billion-dollar-downtown-reno-redevelopment-project-unveiled/83518676/