Redevelopment Projects Give Old Businesses New Life in Reno
There used to be a time where you would drive downtown and see dilapidated motels and homes that needed some much-needed love to keep them standing, but that’s been something we’ve rapidly seen change over the last few years.
The expansion of the university and the cleanup projects happening in part due to the Neon Line District have brought a vibrancy to the community again. We’re seeing some continuous changes, and it’s not slowing down anytime soon.
In fact, Reno’s West Fourth Street is part of a current redevelopment project that will change an old motel into new apartments. The Courtyard Inn Motel is the latest piece of property to be bought up for the Neon Line District, and after the $5 million investment has been made, the motel will be a 38-unit apartment complex called Loft 601.
The new project will include plans to save 10% of the units for affordable senior housing. Loft 601 will be studio apartments with a new community room and kitchen for tenants to use. Construction is underway, and the target move-in date for renters is July 1.
In the last few years, Fourth Street alone has demolished or redeveloped 300 units of housing in hopes of updating the neighborhood and improving the living conditions in the aging properties. The overall end goal is to make the Neon Line District an attractive location for tourists and new renters alike, and that’s already been seen with the Burning Man art pieces along the corridor.
There are also talks about the Neon Line District being recognized by the city as its own district in order to seek funding for bike lanes and improvements to the general structure of the neighborhood.
Reno continues to be adaptable and thrive in any circumstance that’s thrown its way. We love keeping our finger on the pulse of these changes, and if you ever have any questions about what developments are underway and what it can mean for buying or selling a home, give us a call at (775) 828-3292.
