Smith
Smith, NV · Real Estate
Reno-Gazette Journal
Proposed downtown workforce housing project asking for tax assistance
The Reno Redevelopment Agency, which is made up of city council members, has pushed a tax-increment financing plan for a 107-unit workforce housing project to June, after the budget is decided. The Grand Sierra Resort project and another 200-unit housing project on Commercial Row and Sutro Street were the most recent tax-increment financing applications to be approved. This one is next in the queue for discussion. This project will be on Lake Street, north of the downtown Reno Events Center. At the April 22 meeting, Reno revitalization manager Bryan McArdle said the total cost is projected at $24 million, and the developer is requesting $1.8 million in tax-increment financing assistance. Tax-increment financing (TIF) is a method of funding projects in which future increases in tax revenue are redirected back to private developers. Under Nevada law, these projects must be built in designated redevelopment areas that are suffering from blight. In theory, those increased revenues wouldn't exist if the private development didn't happen, so municipal budgets wouldn't be impacted. Under the city's current TIF procedures , no bonds are issued and the city takes on no debt. The snag with this project is that the independent consultant, SB Friedman, did a
connectcre.com
Investor Duo Snags $71M Reno-Area Warehouse Refi
Bendetti and Singerman Real Estate (SRE) completed the $71 million off-market recapitalization of an industrial portfolio consisting of three single- and multi-tenant buildings in Sparks, Nevada. Commercial Search reports Bendetti acquired the assets in 2016. In 2019, the company took out a permanent loan from Voya Financial that was set to mature later this year.
Tahoe Daily Tribune
Incline Village REALTORS® leverage grant to close the gap on affordable housing in Lake Tahoe
INCLINE VILLAGE, Nev. – The Incline Village REALTORS® received a $7,500 Housing Opportunity Grant to unite real estate leaders, stakeholders and community leaders at a Lake Tahoe Housing Forum in Incline Village to advance housing resources across the Tahoe basin and share solutions to affordability challenges across the region.
nnbw.com
People: Todd Collins, Jonathan Wenthe
ArchCrest Commercial Partners is pleased to announce the addition of a great team, with Todd Collins, CCIM and Jonathan Wenthe joining the firm. Collins will be utilizing his services as senior director with Wenthe as director. Together Collins and Wenthe have more than 20 years of experience in commercial real...
mynews4.com
"That's not much time": Dozens scramble to leave Reno Community after sudden 30-day notice
RENO, Nev. (News 4 & Fox 11) — For years, Evergreen Trailer Park in south Reno has been a quiet refuge—one of the few places where rent remained within reach for low-income residents. Now, dozens of people who call it home are being forced out. Residents say they...
yieldpro.com
Thompson Thrift Announces Expansion of National Footprint to 24 States with Reno Nevada Development Argent Flats
Thompson Thrift, a full-service nationally recognized real estate company and one of the nation’s leading multifamily developers, announced that it will develop Argent Flats, a 273-unit multifamily community in Reno. The project marks Thompson Thrift’s first development in Nevada and expands the company’s footprint to 24 states nationwide. Thompson Thrift expects to welcome the first residents in September 2027.
KOLO TV Reno
Business owners forced out as the Painted Tree Boutique files for bankruptcy
RENO, Nev. (KOLO) - Thousands of small business owners across the country are left picking up the pieces after Painted Tree Boutiques filed for Chapter 7 bankruptcy. “I am just trying to wrap my head around everything right now and not cry on camera. It’s devastating,” said Teri Depoali, Knot Too Shabby. She is a vendor at the Painted Tree Boutiques.
mynews4.com
Property owner deceased, clean-up process complicated in Sun Valley
Many residents in Sun Valley are asking what can be done about eyesore properties like the one on Slope Drive which is lined with cars, campers and motorhomes. Some of the vehicles have been dismantled with only the framework still intact. The problem? The vehicles that are sitting there are...
KOLO TV Reno
Bidding set to begin on part of Black Rock Desert
RENO, Nev. (KOLO) - Bidding on a portion of the Black Rock Desert is set to begin later this week. Bidding for Camp David, formerly known as the Great Boiling Springs Park, is set to begin on April 16 at 4:00 p.m. and end on April 28 at 1:00 p.m.
ourtownreno.com
Lear Theater Has Possible Private Purchase Option Back in Play
In a tight 4-3 vote today, the Reno City Council voted to direct staff to look at a Request for Proposals (RFP) process for the Lear Theater, possibly opening up the historic property to be sold to an outside entity. Council member Kathleen Taylor, who is running for mayor, has...
2news.com
Reno-Gazette Journal
Old Lowe’s store turning into an art district, innovation campus
A man in a white hard hat and neon vest walked past a giant metal cobra sculpture inside a massive indoor facility in Sparks, its burnished bronze exterior providing a stark contrast with the bright yellow school bus display right next to it. The dichotomy earned a smile from Doug Wiele, the mastermind behind the Oddie District project that encompasses the former hardware store building. Wiele, the founder and CEO of developer Foothill Partners, was showing off one side of the project, which houses one of the Oddie District’s key tenants — local community makerspace, The Generator. In addition to hosting large art pieces such as the Queen Cobra, which was previously displayed at Burning Man, The Generator also serves as the home for various art studios, projects and even a gymnastics operation. Wiele continued walking throughout the Oddie District site, noting several other users of the space. “That’s Mythic Gymnastics over there,” Wiele said. “And then next door to them is Cargo Robotics.” The seemingly unusual combination is a feature not a bug. Wiele likes to tout the 232,000-square-foot project as a working campus that combines an art park, makerspace, innovation campus and flexible offices, bringing together divergent groups
Sierra Sun
Cal Neva to start new chapter following quarter billion-plus financing deal
LAKE TAHOE, Nev. – A $298 million financing package may soon change the state of the Cal Neva. The historic venue is one of a handful of major properties at North Tahoe’s state line that once welcomed visitors, but are now boarded and fenced, creating somewhat of a hospitality desert there.
hotelmanagement-network.com
Realberry, Proper Hospitality secure $298m for Cal Neva transformation
Realberry, a US-based real estate investment and development firm, together with Proper Hospitality, has secured $298m in financing to transform the Cal Neva Hotel into Lake Tahoe Proper Resort and Casino. The financing will fund a comprehensive restoration, resulting in a destination resort that combines wellness, gaming, and hospitality on...
Tahoe Daily Tribune
Cal Neva to start new chapter following quarter billion-plus financing deal
LAKE TAHOE, Nev. – A $298 million financing package may soon change the state of the Cal Neva. The historic venue is one of a handful of major properties at North Tahoe’s state line that once welcomed visitors, but are now boarded and fenced, creating somewhat of a hospitality desert there.
Nevada Appeal
Carson City urges residents to check property taxes
The Carson City Treasurer’s Office is asking all homeowners and real property owners to double-check that they have paid the full amount of any required real property taxes or fees for the current tax year, which runs from July 1, 2025, to June 30, 2026, according to a news release.