Our local business weekly recently reported that about 66,000 housing units are in the planning process in Northern Nevada. This includes 11,000 units in subdivisions with final map approval and 55,000 units with tenative approval. The annual build rate for Reno-Sparks is about 4000-5000 new homes, typically representing approximately 10% of units in the pipeline.
Developers are anticipating a 50% increase over current annual figures. One quarter of these are proposed for Spanish Springs, another quarter in Southeast Reno, and the remainder scattered throughout the Truckee Meadows. 6000 condo units alone factor into the total number of units on the drawing board. I wonder… how many developers will actually motor forward on these plans if the market continues on its current path?
Stephon Rosario
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