Downtown Revitalization Continues to Grow

For those who’ve continued to follow the progress of Reno’s Downtown revitalization, new developments continue to emerge. We are now seeing some progress in the repurposing of buildings and adding users, which will help increase the overall synergy of Downtown. Welcoming New Users Recently, it was announced that the Nevada Advanced Autonomous Systems Innovation Center will be moving into the Midtown and Downtown areas, into the 3rd floor of a building UNR owns. For lack of a better terms, this will the site of the Drone Center for the college. It was created to facilitate work between the university and businesses that deal in drones. Also, the land adjacent to Basin Street’s 1 E. Liberty Building by the ballpark transferred last month to an entity owned by Basin Street and another group from Mill City, CA. This is rumored to be the future site of a Marriott Hotel. That parcel is just under an acre in size. Renovation Giving a Boost Other good signs for the Downtown market are the US Bank building seeing renovation (both interior and exterior), and work being done on both the Virginian and the Tap house building from Las Vegas Developer Steve Siegel. Another exciting project on the north side of Downtown is the Depot Distillery and Brewery, which is filing for permits as we speak. The owners from the adjacent Louis Basque Corner purchased the historic train depot building next door to Louis and are putting in a state-of-the-art brewing and distilling system. Also, they will be re-paving and lighting the gravel parking lot, which will be great for the overall appearance of those two buildings. It looks like the movement of rebranding and repurposing of Downtown properties does have strength, and I think with every project completed, it gives another developer or investor more and more confidence to invest in Downtown Reno.]]>