I wanted to share with our readers the growth corridors and what is happening in the Reno/ Sparks land market. When I came back to Reno in 2009, there was about 35,000 acres of developable land left in the Valley. Today, that is far less as we have seen the “land grab” taking place from the Tesla Effect.
Additionally, EDAWN and our economic development counsels (NNDA, NBC, WIN, etc.) have done a great job to promote our area and drive new businesses into town.
West Reno – There are significant projects already mapped and planned for over 1,400 lots and some smaller stuff but the corridor to the West is built out, less some small stuff.
South Reno – Mount Rose is getting regenerated with Montreux putting spin three in place 20 years ago, land plays have been taking place at never seen before prices, as this South corridor has been bought up. The $18 million ask for Stations Casino 97 acres across from Summit Mall had five offers over asking in the past few weeks as players position for one of the last remaining large parcels in the area. Morrissey has nice land at $25 a foot or $1 million an acre and at prices never seen before that are going in play. Sprouts off of South Meadows got done with sellers getting around $35 a foot which is $15 a foot higher than land on South Virginia Street.
East Reno – The Hidden Valley/Veterans Parkway area is still up and coming but the majority of land is in a flood zone or owned by the University of Nevada Reno. Some opportunity but mountain land locked with limited ability to do any significant project.
North Reno – These are the two remaining corridors left for any larger scale master plan growth. 55 Calle is a master plan project where we are developing eight acres of retail, which is in front of the Spanish Springs Business Park. As there are over 4,000 homes going in, Sky West is positioned to assist in providing services to this bedroom submarket as well as to the 2,000,000 square feet of commercial park companies and employees in the area. For tenant interest or to run a C STORE, please contact us as we are taking reservations through our design phase.
Having grown up in Reno and looked at virtually every major project in town, Sky West is very familiar with the path of growth and how to assist clients and buyers with land value, entitlement, project management, construction management and any commercial real estate needs.
Please contact us at SkyWestServices.com or 775-827-6700.
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