The Reno Redevelopment Agency (RDA) is taking a step toward reshaping downtown by proposing the purchase of 10 City-of-Reno-owned parcels within Redevelopment Area 2 (RDA 2). These properties, scattered around Spokane Street, Quincy Street, Valley Road, and Sage Street, have been identified in the City of Reno’s 2025 Property Disposition Plan as underutilized and primed for transformation.
During the upcoming Redevelopment Agency Advisory Board (RAAB) meeting on April 21, staff will present a recommendation to initiate appraisals for the parcels, kicking off the due diligence process required before any purchase decisions can be made. The estimated value of the full package is $4.57 million, to be funded through the RDA’s capital improvement budget.
Why It Matters
Rather than releasing the properties to the open market, the City of Reno intends to transfer them directly to the Redevelopment Agency. This strategy ensures the parcels are reserved for intentional redevelopment that aligns with long-term city goals, such as affordable housing, mixed-use development, and public space enhancements.
What’s Next
If the appraisal initiative is approved, the Redevelopment Agency will return with a detailed analysis of each property’s value and recommendations for acquisition strategies, including potential funding mechanisms like tax increment financing (TIF). Development of these properties could roll out over time, based on market readiness and strategic priorities.
This approach is part of Reno’s broader effort to repurpose city-owned land for greater community benefit while ensuring compliance with local ordinances and Nevada state law.
Stay tuned for more updates as the redevelopment roadmap for downtown Reno continues to take shape. You can find the packet here. The meeting for this is April 21 at 10:30 am at Reno City Hall.