The Kings Inn Has a Nice Pool Deck

Absolutely love this idea. Hopefully they can get some sort of retail in at ground level as well. With all of the residents in the Belvedere plus the Kings Inn that whole part of downtown would need some retail. Or they could just tear down all of the nasty motor lodges.

another thing about living downtown is you can be car-less. Demographics show that younger people aren't into cars like they were 40-60 years ago. Lots of savings to be had by going car-less, and renting one on a weekend if you want to buzz out of town.

Let's hope whatever they are planning is NOT "transient housing." I love the Downtown and Midtown areas and feel we are moving in the right direction. Just praying all these changes will be positive changes. The last thing we need is another reason for transients to be drawn to this area. I understand the need for shelters to help those in need, but building the facility on Record Street IMHO was a bad idea, then add to that the Siegel Suites that are currently located on W 2nd St. If Siegel Group plans to do the same with the Nevadan and Virginian all the progress could be lost. Again, let's hope that's not the case.

Great write-up and I love the term CAVE! CAVEs need to STFU. I sincerely hope developers downtown realize that their earning ceiling is significantly higher if they appeal to the demographics above than to the transient/druggie crowd. I'm a young professional who has looked into buying property in midtown and the demand mentioned in the article is real. Last Friday, despite hurricane like conditions, the Knitting Factory was rocking with young people. Imagine if right outside the concert venue were bars and restaurants that appeal to this crowd and are supported by residents downtown. Now that's a cash cow! Hopefully these developers have vision and don't just go after the low hanging fruit.

Marmot still has 412 Roberts listed on CL, second price drop. One incautious renter does not make a market. There are a half dozen unrented apartments at the Montage asking $1300-1400. That is a heck of a lot better than last year or the year before, but $1850 is not what should be expected for a 1br. There's no need to use an outlier to build the case for recovery.

Geopower, the point is, rents are higher in both Midtown and downtown. I know several owners renting their Montage units at the price range you mentioned. I agree $1850 is awfully high, but it was still rented at that price, so someone obviously wanted the product.

Dude, I clearly said the market is improving. But the two facts you cited to support your statement were both flawed (one incorrect, one an outlier.) I only disagree with your rhetoric.

Shhh Geo! You're close to being labelled as a CAVE *gasp!*. Nevermind that poor little "Mike L" from a newer post got priced out of RENTING in Midtown, this is the Potemk... I mean PROSPERITY we've been attempting achieve! Ah, maybe I'm just bitter because if this isn't actually just another "bubble" I'll soon be residing in Cold Springs, Sun Valley or cuddling up in a Seigel Suite. All CAVE-ness aside, the improvements and in-fill are great! But lets try coming down from the space rocket every once in a while and realize this is still Reno (and 950 sq ft houses should NOT cost $1900 to rent), and if we're going anywhere sustainably it needs to be at marathon pace, not a dead sprint.

In a quick look on Craigslist, I found a couple 1 Bed apts in Midtown for $550, found many 1 bedroom places for rent in the $650 range, a really nice 2 bed brick bungalow 1375 sf for $1195 a month. Are those not reasonable asking prices?

No, those rents are reasonable. Honestly I just feel bad for "Mike L" from your Midtown Walk post. I'm also really just being somewhat of a CAVE. Lastly, I still think its funny that the Marmots originally wanted $1900/mo for the hotly debated "Orange Bungaholio". You can always look at certain things as ridiculous. Like my old Midtown apt went for $100 more a month without any upgrades/changes just because its Midtown. Whats also a little disconcerting is you can add more to your tally of 5 people wanting to purchase in those "desirable" neighborhoods and getting priced out [even in the old northwest]. I feel like situations like these could lead to more sprawl, because after a while those people (including me) want/need to own something in order to better their future house buying capabilities, and the only starting point then becomes the outer reaches of the city. Hopefully the priced out bubble will end without a pop, and Reno can continue its upward climb

You have to know the building when analyzing rents at Montage. Lower floors and east facing units are generally cheaper than west facing units. Corner units command higher rents than middle units. Real one bedrooms command more rent than studios/convertables. Executive rentals include all furnishings, cookware, linen, cutlery, cable, electricity, internet, and everything else needed to let you just bring your suitcase and grab the TV remote. The unit that has all of the attention for its high rent is a high floor, real one bedroom, corner unit, executive rental.