The land may be suited for all kinds of infill, but the prices Jacobs paid for it is going to require high rise development to return a profit. There may be that much demand for new highrises in Reno, but Jacobs doesn't seem to have the vision or wherewithall to start building themselves to prove it, so I struggle to understand why the city should buy in. I expect this district will, like the Keystone project, require a market crash and value write off before the parcels can be resold at valuations that can be developed at manageable returns.
That's a great point--Jacobs alone knows what prices they'd be seeking for the land they've purchased, which in turn would dictate what kind of development would be determined feasible there.
That's right--I"m not sure why they changed it either, but they were calling it the Fountain District when Mike wrote about it in his post about Reno's failed urban districts. http://www.downtownmakeover.com/reno-urban-districts
I'm actually dashing to Sundance by 6pm to replenish their stock with some copies I happen to have on hand and they're open until 7pm tonight and open tomorrow at 9am.
Great article! With the expansion of mixed use zoned areas of Reno and the lack of a noise ordinance, it's time for the city to remember "mixed use" includes full time residential living. It's time for the city to adopt a noise ordinance.
That is something I will look into, for sure--and you're right, there is significantly more residential development downtown than ever before, and increasing all the time.
That would be wonderful! Noise control in downtown Reno was never the issue it is now and if City council is moving towards mixed use zoning, it's time they take into consideration the full-time residents who pay their mortgage/rent and pay their property taxes. If individuals have the right to peace of mind in their own home (a legal right), then city council should back that up with the noise ordnance for mixed use zone areas.
The land may be suited for all kinds of infill, but the prices Jacobs paid for it is going to require high rise development to return a profit. There may be that much demand for new highrises in Reno, but Jacobs doesn't seem to have the vision or wherewithall to start building themselves to prove it, so I struggle to understand why the city should buy in. I expect this district will, like the Keystone project, require a market crash and value write off before the parcels can be resold at valuations that can be developed at manageable returns.
That's a great point--Jacobs alone knows what prices they'd be seeking for the land they've purchased, which in turn would dictate what kind of development would be determined feasible there.
The original brand Jacobs wanted was "Reno Fountain District" https://tmsearch.uspto.gov/bin/showfield?f=doc&state=4807:kg6eze.2.1 Not sure why they changed.
That's right--I"m not sure why they changed it either, but they were calling it the Fountain District when Mike wrote about it in his post about Reno's failed urban districts. http://www.downtownmakeover.com/reno-urban-districts
Good article! Appreciated some critical analysis that so far has been missing from the reporting that RGJ and others have done so far.
Wish your book was on kindle! Leaving on a trip tomorrow and wish I could read it
Thanks so much, Ben! The eBook version of Reno's Big Gamble will be out in June or July, and I'll be sure to post when it's available. Safe travels!
Anywhere local in Reno to grab the book?
I'm actually dashing to Sundance by 6pm to replenish their stock with some copies I happen to have on hand and they're open until 7pm tonight and open tomorrow at 9am.
I am right over there. I’ll swing in and grab a copy today.
Great article! With the expansion of mixed use zoned areas of Reno and the lack of a noise ordinance, it's time for the city to remember "mixed use" includes full time residential living. It's time for the city to adopt a noise ordinance.
That is something I will look into, for sure--and you're right, there is significantly more residential development downtown than ever before, and increasing all the time.
That would be wonderful! Noise control in downtown Reno was never the issue it is now and if City council is moving towards mixed use zoning, it's time they take into consideration the full-time residents who pay their mortgage/rent and pay their property taxes. If individuals have the right to peace of mind in their own home (a legal right), then city council should back that up with the noise ordnance for mixed use zone areas.