Firstly, I want to say thank you for the warm welcome that so many of you have extended both publicly and privately.
Secondly, I want to thank you for the suggestions for additional info. As an example, one of the first comments I received, from Grand Wazoo, suggested I report medians rather than averages. This is an excellent suggestion, and one I will incorporate going forward. In the meantime, I have modified the tables presented in my Reno Downtown Condo Square Foot Costs post to include medians. see
Thirdly, thank you for all the commentary and contributions. It’s the dialog that makes this blog have any value. I was pleased to see a great example of this when Reno Ignoramus asked about HOA fees for the downtown condo projects, and EyesWideOpen responded with a list of these fees. You can find these HOA costs in the Comments of the original post, just scroll down. Thank you EyesWideOpen for providing the HOA data. Posted by Guy Johnson.
7 comments
EyesWO, you said in your post on the other thread that you currently live at the Riverwalk. Every once in a while I have occasion to drive by the Riverwalk at night and when I look up, it appears that about 75% of the building is dark. I was wondereing if you could share any info you have about how many units are actually occupied there, and if they are occupied by owners or tenants. I realize you may not have precise info, but any light you might shed would be most appreciated.
Also, thanks for the info about HOA fees. Does anybody know what the HOA fees will be at the Paladio and Montage?
I believe the Riverwalk is nearly sold out. Last I heard there were less than 10 units available. There are always plenty of cars in the garage and people in the elevator. But I think a lot of the residents, like me, have other homes (probably in California). I definitely see more people on weekends. Personally, I spend about 1/3 of my time in Reno and the rest in Sacramento.
The HOA fees I listed were for specific units. Higher floors and larger floor plans may command higher fees. Here’s a repost with square footage and approximate property taxes:
2007 HOA fees:
Arlington Tower
1 bedroom, 14th floor, 682SF:
HOA: $415/month
TAXES: ~$700/year
Riverwalk Tower
1 bedroom, 3rd floor, 770SF:
HOA: $335/month
TAXES: ~$2,400/year
Village at Idlewild Park
1 bedroom, 3rd floor, 850SF:
HOA: $185/month
TAXES: $1,632/year
Park Tower (2006)
1 bedroom, 4th floor, 751SF:
HOA: $330/month
TAXES: ~$500/year
-EWO
Hello Mr. Johnson and thank you for reporting on the prices of housing in or near downtown Reno. I would like to mention the 8onCenter project (townhomes)located at Center and Holcomb. The prices of these ultra hip, ultra cool and environmentally responsible homes are the lowest price per square foot in downtown Reno: $323.00 per square foot in the small homes (1531 square feet) and only $308.00 per square foot in the larger homes (1705 square feet). These aren’t chintzy casino conversions either. The craftsmanship and materials in these homes are equal to that of the multimillion dollar mansions at Arrowcreek and Montreaux. The view is to die for from each unit. Oh, and did I mention they are true live/work lofts? I encourage everyone with an interest in downtown development and architecture to drive by and take a look at the final stages of construction. I am the hometown developer and I promise I am not jaded in my encouragement of the project!
Again, thank you mucho for the downtown blog. Kelly Rae
“Chintzy casino conversions”.
Iv’e never heard of the Montage and the Riverwalk and the Belvedere referred to that way.
Nothing like talking up the competition.
Regarding the increase in HOA fees at the Riverside, anyone who lives in a condo could have seen that coming. Expect it with the Montage as well, which has ridiculously low HOA fees (I believe they were quoting less than $300 for one of the larger 2-bedroom units). Knowing all of the amenities and services which must be paid for out of these fees, I suspect a similar increase at the Montage within a year. I have made numerous attempts to get data from the developer about what has happened to HOA fees at their other developments once the HOA took over, but they seem never to be able to get back to me.
Lindie-
We support fully the casino condo conversions and have never given much thought to them being our “competition” (if you visit the site then you will understand). I should not have used the term “chintzy” it was a mistake. I only meant to convey the distinct difference in craftsmanship, materials and price per square foot. Thank you for responding and allowing me to apologize and explain.
Kelly Rae
After taking a close-up look at the “8 on Center” project, I have to say it’s much more than meets the eye (and infinitely better than the “eyesore” the property was prior to redevelopment). Superior construction with top quality, custom features…all in about a year from groundbreaking to occupant-readiness. 8 on Center should be a model for other developers in the Reno area.