Siegel Group to Present Plans for West Street Plaza July 29

by Mike Van Houten / Jul 23, 2015

Coming up at the July 29th City Council and Redevelopment Agency Board meeting, Siegel Group will present the long-awaited plans for West Street Plaza and Fulton Park, with a possible sale or lease as the preferred outcome.

Siegel Group owns the Truckee River Lane building, located at 248 West First Street. They purchased it with the intention of a major remodel to the building, including opening up the adjacent plaza to the east of the building so there is easier plaza access for the First-Street-facing businesses in the Truckee Lane building. Plans include a full exterior facade renovation of the building (yes!) as well as new landscaping and improvements around West Street Plaza. The 14 existing apartments on the upper floors will be renovated and upgraded, and possibly 12 additional units will be added on the second and third levels where there is large unused space in the building. There is also unused basement space facing the Riverwalk that will be renovated into a new retail space with river views.

Siegel Group's purchase of the building occured just in the nick of time, as things were getting heated between tenants and the prior owners.

Below are some early renderings of what the new plaza might look like.

In the Sept 10, 2014 Redevelopment Agency Board Meeting - Council members got an overview, but not an official proposal, of what Siegel Group plans for the property. Reactions were mixed.

Sharon Zadra (council person at the time) wanted a more open public process, and give anyone the opportunity to develop the parcel rather than hand it over to Siegel. Dwigth Dortch and Mayor Cashell responded favorably to the idea, while Jenny Brekkus and Sharon Zadra remained more reserved.

Councilwoman Hillary Shieve suggested that Siegel Group develop a proposal and come back to the table.

I'm guessing that's what this meeting is about July 29....reivew an official proposal would would include lease rights, priority to program the space with events, and renovation plans. Should be an interesting meeting!

Also in the same meeting, there will be discussion of residential construction tax districts, project and fund balances for new park development, and direction to add projects for Pat Baker Park and Virginia Lake Park to the Capital Improvement Plan.

And if that weren't enough, in this same meeting will be a presentation by RTC for their Virginia Street MidTown and RTC RAPID Extension Project.

Should be a fun meeting!

Post your comments
  • July 23, 2015 - 8:44:28 PM

    I would suggest the Siegel crew finish some of their other projects first. The El Cortez, with the front awnings stripped off and vinyl signs hung for the current tenants, looks awful, and has been that way for several months now.

  • July 23, 2015 - 9:48:53 PM

    I agree. Love the intention, but I'm getting concerned about being over committed. Virginian, Kings Inn, Cortez. And What up with the Sienna? Any word on the branding?

  • July 23, 2015 - 11:59:10 PM

    If the Historical Society wasn't such a Nazi about redevelopment of old buildings Siegel might be able to move quicker on the El Cortez project. He has plans to restore the street signage and rooftop neon. WIll they every allow him to move forward, eventually.....but not quick enought! As far as Virginian, work has begun. No word yet on what it's going to be!

  • July 24, 2015 - 11:34:10 AM

    [Trump voice] This is gonna be the classiest, most upscale privatization of public space this city has ever seen. The pathetic losers who oppose this are out of touch with reality and jealous of the richest, most successful Nevada developers god has ever created.

  • July 30, 2015 - 6:16:02 PM

    So does anyone know what Siegel presented? Matt, you seem to be the ultimate Siegel insider - what's the plan for West Street Plaza?

  • July 31, 2015 - 9:37:31 AM

    I think the presentation/item was pulled from the Agenda Walter. Though I couldn't watch the live meeting, there's nothing about it in any of the recordings of the meetings or recaps.

  • August 4, 2015 - 7:39:23 PM

    I thought I read here and elsewhere that Siegel & Co. were the newly anointed saviors of downtown. What happened?

  • August 26, 2015 - 5:07:09 PM

    They finally presented today, and the presentation had no new plans for the property. The Council directed them to work with Parks staff and the RAB to come up with an actual proposal for them to consider.