Breaking news: UNR to considering purchasing 16 parcels south of freeway for a university village.
The University of Nevada Reno at the June 6, 2024 NSHE Board of Regents Business, Finance and Facilities Committee received approval of consideration to purchase parcels on Lake Street just south of I-80. There are 16 property parcels comprising approximately 2.29 acres of land and improvements, Washoe County Assessor Parcel Numbers: 007-223-05, 007-223-10, 007-223-11, 007-223-20, 007-362-01, 007-362-02, 007-362·03, 007-362-05, 007-362-10, 007-362-11, 007-362-13, 007-362-14, 007-362·15, 007-362-16, 007-362- 17, 007-362-18, totalling 34 units which incldues apartments and single family homes, to create a University Village, including affordable housing for both students and faculty. The purchase price is $6,438,000, below the appraised value of over $7 million.
The parcels are located between Lake and Evans, with some of the parcels south of 7th Street, between 6th and 7th Street, and some of the parcels north of 7th Street between the freeway and 7th Street. You can see the two areas in the two parcel maps at the bottom of this post in my gallery.
The cost of updates and improvements to the existing properties, which would not be demolished in the short term (although they didn't rule out the possibility for long term, for designing a university village in the future)...is estimated to be around $800,000. The properties would be managed by University of Nevada Real Estate Office. This is the first real movement on this land since the failed Tessera District project.
Here is the agenda for that meeting on June 6: https://nshe.nevada.edu/html/wp-content/uploads/file/BoardOfRegents/Agendas/2024/06-jun-mtgs/BFF0624.pdf
Here is a link to the proposal: https://nshe.nevada.edu/html/wp-content/uploads/file/BoardOfRegents/Agendas/2024/06-jun-mtgs/BFF0624.pdf
Here is the video of UNR President Brian Sandoval presenting the proposal. https://youtu.be/8782Z1Nb6Q4?si=k5jQA6oYVXRPp9B9&t=6626
