Montage 70% Sold

by Mike Van Houten / Apr 26, 2013

After months of record-setting sales activity, The Montage has surpassed the 70 percent sold milestone, selling 266 of its 376 residences including six Penthouses, continuing its reign as the fastest and best-selling community in Reno. They expect to be 90% sold by end of the year.  

Wells Fargo, one of the nation’s largest lenders, is also offering 80% loan-to-value for primary homebuyers, 70% for second homes, and 50% for non-owner occupied purchases. With Wells Fargo offering down payments as low as 20%, local buyers are able to more easily qualify for their first-home purchase. This has already opened the door for many, local first-time buyers and others looking to downsize.

“Surpassing the 70 percent sold milestone, in tandem with our new lending products, is nothing short of spectacular” said Samantha Reveley, Sales Manager for The Montage, adding “our homes are flying off the market.”  The Montage’s sales results and new financing options are further evidence that the local housing market has rebounded tremendously.

The local market’s health is evident in the six Penthouse sales at The Montage, with one topping out at $650,000 and representing Reno’s largest condominium transaction in years.  Each of the six Penthouse buyers lives at The Montage fulltime, which has further contributed to the luxury high-rise’s growing sense of community.

The sales team has recorded over 32 sales in 2013 to date; the majority to young professionals who enjoy the downtown location.  With the project’s success and the local economy gaining momentum, local professionals have been quick to pull the trigger.

Post your comments
  • April 27, 2013 - 12:57:34 AM

    It still doesn't answer the question: How many of these sales are to people with the intentions on actually living there? I'd be willing to bet at least half are a combination of investors and out of state buyers.

  • April 27, 2013 - 12:45:08 PM

    It's a press release. It's not supposed to answer to reality.

  • April 29, 2013 - 11:52:05 AM

    An article in the Reno Gazette Journal today states that 85% of the Montage units sold are to full time residents

  • May 2, 2013 - 8:09:42 AM

    I went downtown for the first time in a few years. I think it's worse than ever. It seemed dirty, trash strewn everywhere, and definitely not safe. There were a lot of black people just hanging around, it seemed very intimidating. First it was the homeless and punk kids, now it's the menacing minorities. Tourists want to be safe, they don't want to be threatened when they walk downtown. Very disappointing.

  • May 2, 2013 - 8:46:25 AM

    Oh people and punk kids hanging out downtown? Say it isn't so! Exactly how often do you venture out of suburbia to other cities? If black people and punk kids and homeless people offend you, then I suggest relocating to a spacious igloo in Antartica. Name a downtown in this country that doesn't have these elements? I walk by the kids that hang out by the river daily, and never once am bothered or heckled by them, so how is it a problem? Regarding trash strewn everywhere, I don't see that and I walk through downtown daily.

  • May 2, 2013 - 9:28:19 AM

    Personally I find white men from the suburbs to be the worst.

  • May 4, 2013 - 3:08:47 PM

    @dave: Let's not forget all of "the gays" that hang out around West and First, because if they take over, Downtown will be lost in a mess of fashion and style! But really, in all seriousness, I hope your comment was sarcastic in nature, because rest assured, I very truly doubt that the mere presence of ANY minorities is going to keep anybody with a 21st century mindset out of Downtown. If you really believe that the presence of black people Downtown is really that detrimental, then perhaps the problem you see isn't with Downtown, but with yourself.

  • May 6, 2013 - 1:58:55 PM

    Dave Wilson is the alias for the head of the Thunder Valley promotions dept. Can't we all "just get along"?

  • May 16, 2013 - 8:09:06 PM

    Keep on denying it. You probably think that Social Security is going to be around when you retire. Get real! Downtown Reno still has a lot of work to do. I've been to a lot of different downtowns and all of them have been better than Reno. Whose idea was it to put a homeless shelter next to a multi-million dollar baseball stadium project? Morons, all of you.

  • May 16, 2013 - 8:48:27 PM

    Dave, it is you who is the moron. Go ask the dozens of entrepreneurs investing money into Downtown and see how they feel? They'll tell you to get lost.

  • May 18, 2013 - 4:00:55 AM

    @Dave: Maybe instead of whining and complaining that you don't like Downtown, perhaps you can share some ideas about how Downtown can be improved. Then again, since you consider the presence of "too many" minorities in Downtown as part of the problem, I can not for the life of me fathom any solution that any civilized member of society wouldn't fine objectionable. BTW, I think the next words out of your mouth (or keyboard, in this case) should be "I'm sorry for making such a racist statement".

  • May 19, 2013 - 4:59:06 AM

    Yeah, I could do without moronic, racist old men babbling on about things they know nothing about. What sort of cynicism compels somebody to make comments like this on a website that's been nothing but a positive, optimistic community resource? Seriously, kudos to the Montage for their slow and steady success in a market like this one, and despite continued negativity and second-guessing. More people downtown can only be a good thing- change comes from those who are invested in a place.