If you build it, will they come?
Breckenridge is a 108 unit development in the NW, just north of the Grand Summit between McCarran and Robb. Meritage was originally going to build it out, and undertook heroic site prep. My recollection is that the prices were to start in the upper $400s. I’ve been up there, and the views are amazing – a hidden little pocket. Access is a bit weird, but easy compared to Somersett standards.
Guess what? They are building. The model homes are under construction. It has been a long time since I have seen bare studs in the NW. It is now showing up on the Ryder Homes site as their project, with pricing in the low to mid $200s, complete with floor plans.
I can’t untangle the cast of characters on this one. Land owner is Lo Land Assets aka Lowe Enterprises. I think Lo Land tied up the property, licensed the development to Meritage who failed, and now is running with Ryder. Commercial Lender, you might be able to make sense of this transaction, but I am flailing.
Ignoring all the financial esoterica, a developer has kicked off a new project in NW Reno. We haven’t seen this in a long, long time. Sheep, or leaders? Any thoughts?
Grand Wazoo
Sorry to be a dope, but what is the Grand Summit?
Peg’s has an outpost up that way, that’s about my complete understanding of that ‘hood.
KB
I have seen some of the transactions that Ryder Homes have done, Like sell the entire mountain above d’andrea to Lennar at the top of the market, and fire all of their high priced employees before the market froze. If they are doing something, I am willing to bet all of there ducks are in a row. They are the best run semi-local homebuilder.
Perry
Pick your lot here:
ftp://wcftp.washoecounty.us/outtoworld/assessor-books/bk202/202_24.pdf
ftp://wcftp.washoecounty.us/outtoworld/assessor-books/bk202/202_23.pdf
ftp://wcftp.washoecounty.us/outtoworld/assessor-books/bk202/202_22.pdf
longerwalk
I live in the 20-year old stable neighborhood near there, walk the area regularly. There are decent homes in the area with ‘antifreeze in the water system’ signs–too many of them.
The graffiti artists have spray-painted the retaining walls, some twice over.
I don’t know what to make of this . . . a pocket Somersett in the making? Ye gods. Like we need more vacant houses in the city.
Alicia
‘antifreeze in the water system’ ?
Is that what they do with abandoned houses? Put a sign up that says that?
longerwalk
Alicia–These are homes that are for sale, but clearly won’t be selling soon. There are signs in the front windows for people to be careful to flush the system before using the water. Not sure, but they could be in other kinds of vacant homes, too.
M
I’ve seen the models, and the views. Lots are decent sized, and for a premium, you can have an amazing view of the downtown skyline or valleys. It appears more and more are selling. What does everyone think? Is this an area worth looking into?
video
this is really good