I think it’s absolutely outrageous that Jacobs is proposing to use his land for workforce housing. He should stick to building condos and luxury rental apartments that are too expensive for most people in Reno to afford.
It would be sooo much easier to hate him and write nasty articles about his motives!!!
Very interesting timing, to say the least! Why is Jacobs proposing 1000 units instead of the 850 that could be built on the subject parcel? What justifies the 250% increase in the parcel value for a 4 month hold? Jacobs is obviously going to leverage this for his next "ask" - TIF breaks. Is it best practices to be proposing 1000 units of workforce/subsidized housing in a densely concentrated urban core instead of a blend of mixed income development? Zero parking is required in this zone (structured parking costs +/- $35,000 per space to build) so the additional 1800 parking spaces Jacobs is proposing is+/- $63M that I suspect he anticipates the "Public" part of the public/private partnership will pay for for his use. I just might love Jacobs' overreaching master plan, but I just have seen nothing that indicated a coherent plan that might be a positive for the City of Reno.
I think it’s absolutely outrageous that Jacobs is proposing to use his land for workforce housing. He should stick to building condos and luxury rental apartments that are too expensive for most people in Reno to afford.
It would be sooo much easier to hate him and write nasty articles about his motives!!!
Very interesting timing, to say the least! Why is Jacobs proposing 1000 units instead of the 850 that could be built on the subject parcel? What justifies the 250% increase in the parcel value for a 4 month hold? Jacobs is obviously going to leverage this for his next "ask" - TIF breaks. Is it best practices to be proposing 1000 units of workforce/subsidized housing in a densely concentrated urban core instead of a blend of mixed income development? Zero parking is required in this zone (structured parking costs +/- $35,000 per space to build) so the additional 1800 parking spaces Jacobs is proposing is+/- $63M that I suspect he anticipates the "Public" part of the public/private partnership will pay for for his use. I just might love Jacobs' overreaching master plan, but I just have seen nothing that indicated a coherent plan that might be a positive for the City of Reno.
These are very helpful numbers--thank you.