Haberae Committed To Spending $8 Million to Develop Entire Block Downtown

Wow, this is a great plan and a solid offer. Will be excited to hear how it all pans out

Yes please!

It's interesting how much money the Eldorado, Silver Legacy, Circus Circus, Carano Family, have given Schieve, Jardon, and Delgado, the three most adamantly for demoing those properties. Almost the same cost as demolition. Check out the Secretary of States website for the campaign disclosures.

Wow, this would be amazing if it happens. That block has been in it's current state for far too long. Based on their past projects, I assume they would keep at least some of the structures in place. While, I'd honestly prefer to see the block razed and something new go in, I'm sure they would do a great job. Between this and the student housing going a block north, this part of town would be really improved.

How much do you think property values in downtown have appreciated in the last 2.5 years? Zillow estimates two properties on that block have gone up 38% and 45% in that time. Even given the lack of upkeep, I'm going to guess the current owners see a bid of 3% over last sale as insultingly lowball.

Haberae's offer is $240,000 per lot. 229 NVA is for sale at $1.4M. 340 NVA is listed at $1.6M and there is another lot listed at $1.8M. I'd posit FMV is a minimum of $750,000 per lot and closer to $1,000,000 for an assemblage of parcels. So yes, Geopower, NNUD is looking for someplace to scrape their shoes off after the current offer!

Insulting low-ball offer aside, why should the city endorse a project that will create low income, rent controlled, aka future section 8 housing, adjacent to the University gateway district? seems like a terrible idea for downtown and University stakeholders. Back to the drawing board Habrae.

The mayor is right and the casinos..all u old timers want to see Reno in the past while everyone else is moving along....those motels make our city look bad and downtown trashy..IMPLODE them and Knockem Down VEGAS STYLE!...Siegel and his ghetto Virginian suites to the North and now he owns the building which house the tattoo shops ...and plans to do nothing but ghettoooo improvements and he bought the Nevadan and plans to do nothing but sh*tty things..someone at least do something innovative and new with these properties..With these nuthead developers are nothing but SLUMLORDS

Oh please, Concerned Person. Number 1, the Casinos (The Caranos) could care less about downtown. The only thing they care about is how many people are INSIDE their property. Number 2, HabeRae is in a completely different universe from Seigel. Look up the "8 on Center", those condos are now priced at around $400K+, and that was HabeRae's first project. When you hear "affordable" you crap your pants and think ghetto, but I'm sorry, this town is in for a rude awakening if the rent and housing prices keep going up and the wages remain stagnate and HabeRae knows it.

To the "Concerned Person" I am familiar with Siegel Groups plans and they actually have some big plans for their Nevadan and Virginian properties and have already spent quite a bit inside improving the lobby of Virginian which is currently housing UNR students. Clearly, you are just another common citizen with little knowledge out there to bash another's developments. While I will agree with you on one thread, those motels need to go.

The only ones to benefit from the development proposal like with Siegal properties will be the mom and pop habeep cornor storea,they will clean up. yes housing and wages are a problem but the sad fact is if you want a high end claasy downtown you need to build the high end housing,other wise like with Siegals weeklys are nothing more then lipstick on a pig.

Well, this plan was rejected as well. SO I think the city plans to demolish these is the way to go. The owner obviously won't improve the land and just wait for a flip. I wish the time to repay is shorter like 6 months before the city can confiscate those lands.

The motels are coming down, on the city dime for now: http://www.reno.gov/Home/Components/News/News/14709/576

apparently comments in opposition are deleted from this blog?

I haven't deleted any comments from this blog in months, maybe years even, because my commenters tend to behave. There are lots of people in opposition to saving the motels that have voiced their opinion on here. Ultimately it doesn't matter because as Hillary Schieve pointed out in the recent special city council meeting, no one can tell the property owners what to do with their property or when to sell it. So, the motels will be demolished.

Mike Van Houten , I've read several of your posts on this website. You really keep up to date on what is going on in Reno. It sounds like the Northern Nevada Urban Development LLC is holding out for more money. Greed, pure greed. I hope you get your wish. Sherry

what happened to the tiny 10 post?

We do not need this on Virginia St. Downtown. Not the highest and best use for this property.