reno economic outlook 2021 | David Morris Group

Relocation Guide: Reno Revitalization and How Business is Booming

December 30, 2021/in Reno Relocation Information, Reno-Sparks Businesses, Reno-Sparks Real Estate /by Shauna Morris

Across Northern Nevada, there has been a rebound and a rebirth. Retailers are coming back, and the City of Reno is focusing on new economic developments that move away from the gaming industry, which has been rooted in the city’s history for decades. Let’s take a look at the Reno revitalization and how business is booming across the area.

Retailers are Bouncing Back

The pandemic caused a lot of restrictions and strains on businesses across the world, and Reno was no different, but in the third quarter of 2021, we’ve seen some massive improvements to how the city and its residents are adjusting. According to Nevada’s Department of Taxation, Washoe County’s taxable sales for July totaled more than $1 billion, a 23% increase from July 2020. Taxable sales for June also showed a 30% increase year-over-year at $1.16 billion.

With the influx of relocators from California, bringing their existing businesses or creating a franchise location, business is expanding, and retailers are seeing amazing sales volumes. In fact, commercial vacancies are below the already low values seen before the pandemic hit.

Good News for Retail Centers

The Reno and Sparks area has been undergoing a lot of revitalization and change over the last few years. The pandemic had put a pause on some of the construction projects as many weren’t sure how Reno would bounce back, but with the increase in retail sales and vacancies, there’s a renewed vigor for projects like The Oddie District in Sparks, as well as the Reno Public Market and the retail component of the Reno Experience District.

Reno Continues to Revitalize the City

The wave of retailer growth isn’t the only change you can expect from the City of Reno. The recent closure of Harrah’s after over 80 years in Reno was a big push for the city to broaden its economy and move away from the gaming industry. The hotel-casino is being converted into the Reno City Center, a mixed-use development with one and two-bedroom residential units, commercial office space, restaurants, and retail space.

City leaders are hoping to use the excitement for the city center to push more developments that would transform the gaming destination downtown Reno is into a place full of affordable living spaces, vibrant restaurants, stylish hotel rooms, and exciting entertainment options.

Partnered with EDAWN’s efforts on bringing technology companies, manufacturing businesses, and non-gaming industries into the region, the city is making marked improvements to reduce its reliance on casinos and the gaming industry as a whole.

Every year Reno evolves and finds new opportunities to promote growth and change. Reno’s ability to bounce back and accept innovation makes us excited to see what 2022 has in store. If you have questions about moving or what it’s like relocating to the Reno-Sparks community, contact the David Morris Group. We’re always happy to share our knowledge of the area and the real estate market!

A Closer Look at Reno and Nevada’s Growth

October 7, 2021/in Reno-Sparks Real Estate /by Shauna Morris

There’s no doubt that Reno and the rest of the state have grown in population and diversity. It’s a fact that has only been highlighted more since the pandemic, where housing shortages were constantly covering the headlines. The U.S. Census Bureau has released information regarding how our population has changed in the last decade, and we’re here to help you take a look at Reno and Nevada’s growth.

What’s changed in the last ten years?

Nevada has become more populous, with an added 404,000 residents.
Nevada’s population grew to 3.1 million.
The majority-minority state ranked as the United States’ third most ethnically diverse.
The state’s 18 and older population grew by more than 18%.
The state’s 18 and under population grew by 4%.
Nevada’s urban counties grew more significantly than its rural counties.
More than 95% of the population growth in Nevada occurred in Clark and Washoe counties.
The Reno metro area grew 15.3%.
Even with the slowed population growth experienced in the last decade, Nevada was still among one of the fastest-growing states.

Why is the U.S. Census data important?

Data received from the U.S. Census will be used to allocate funding, decide where to build roads and how to respond to natural disasters, and help reapportion and redraw legislative and congressional districts. These decisions have drastic effects on cities and states and will lead the decisions that are made for the benefit of residents for the next ten years.

If you’re curious about how Nevada’s population growth has changed over the last decade and the insights we’ve gathered from monitoring the market over the years, contact the David Morris Group. We’re happy to be your Reno resource, and if you’re hoping to buy or sell a home in the coming months, we’d be honored to help. Give us a call at (775) 828-3292.

Noteworthy New Businesses in Reno

September 10, 2021/in Reno-Sparks Businesses /by Shauna Morris

Reno is booming, and new developments are brewing! The streets and skyline have evolved astronomically over the last few years, and there are a few more noteworthy new businesses in Reno making their mark on The Biggest Little City. The next time you’re driving around or simply looking for something new to try, check out these businesses.

Bar N’ Games

With plans to open a little later this year, Bar N’ Games plans to be “the most fun board game bar in the world…ish.” If their website is any indication of what the bar will be like, it’s going to be a venue for great times and great laughs!

Biggest Little Boba Shop

There could never be enough boba shops in the world. Milky tea and chewy tapioca balls are a delicious combination, and the Biggest Little Boba Shop is doing it right.

The Biggest Little Sushi Bar

With some awesome specials and great deals, The Biggest Little Sushi Bar is a great place to grab lunch or dinner. You can choose from the classics or get adventurous and try the unique specialty rolls they offer.

Earthly Subs

Fresh, affordable, mouth-watering sandwiches, soups, salads, and cookies make Earthly Subs a great place to grab a quick bite to eat.

The Glow Plaza

The Glow Plaza is the newest premiere music venue with neon lights brightening the night sky, food trucks to dine at, and free concerts to keep your calendar full.

Masque

The vibrant restaurant, bar, and nightlife venue brings a little piece of New Orleans to Reno. Laissez les bon temps rouler at Masque.

Matador Lounge

The former Saint James Infirmary has been remodeled and refreshed, and it’s now the Matador Lounge. Complete with swanky booths, strong cocktails, and a beautiful rooftop lounge, it’s a beautiful place to unwind.

Playfield ‘76

Imperial Bar & Lounge will soon become Playfield ‘76, a playful bar full of arcade games and tons of space. You won’t recognize what it used to be.

Reno Fine Arts Collective

Check out gorgeous artwork at the Reno Fine Arts Collective, a 5,000 square foot downtown art gallery. It’s also a great place to meet and connect with local artists every Friday!

Replenish Reno Refillery & Apothecary

As Reno’s first low waste store and refillery, you can refill everyday items, purchase eco-friendly gifts, and stock up on low waste products. It’s the mission of Replenish Reno Refillery & Apothecary to help reduce the use of single-use plastics.

Wide Canvas Interior Design

Looking for premium interior design products and services? Visit Wide Canvas Interior Design for unique and custom features that will make your home one-of-a-kind.

There are always new businesses opening their doors. If you’d like to chat about the businesses we’re excited to see join the community or what’s happening in the local real estate market, contact the David Morris Group. We’re happy to help you begin your home search. Give us a call at (775) 828-3292.

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