– Sierra Canyon – Del Webb annexed 33 lots the 110 or so lot Village 10 into the project last September. Village 10 is the last phase of the original Sierra Canyon project before work will start on Sierra Canyon II, the moonscape you drive through to get to Verdi. SC II will be very expensive, since no roads or other infrastructure was installed. Of the Village 10 lots originally annexed, I only count 5 or 6 without construction activity and a couple new permits have been pulled recently. Year to date, Del Webb has closed on 24 properties, including 10 Village 10 homes. They sold 35 homes last year.
– The Vue – Remember “How to Sell 10 Houses in 3 Days“? Definitely one for the Best of Diane series! Centex / Pulte transferred the unbuilt portions to an internal entity called 76 Vue LLC (76 lots) in December 2009 for $794,584. 76 Vue sold 37 lots to Reno 37 LLC for $799,240 six months later in June 2010. Reno 37 (California Homes of Stockton) has just pulled permits to build a 5 unit cluster.
– 985 Vine Street hit the market for $50,500 last week in the Old Northwest, and has been swarmed with showings. This house is unusual in that it was built in 1942 and was being sold by the original owner, who died in April 2 weeks short of her 99th birthday. There are a lot of cute and reasonable houses in this area west of the university.
– King’s Inn – The Trustee’s Sale scheduled for 19 July was postponed to 23 August at 11 AM. This sale isn’t tracked by any of the title groups I use, so it is just by luck that I keep running into the sale dates.
– 702 Arlington looks like a really sweet little Old Southwest bungalow, a short sale listed 10 days ago for $174,000 and just reduced to $159,000. It was purchased for $389,500 in February 2006 and has been renovated since (not 100% complete). 2 loans, a $311,600 first and a $58,425 second, both with National City Bank. No NOD has been filed, and I get the sense National City may be averse to taking such a hit, so this may not be a real deal yet. 103 Martin was a similar situation, went pending 2 days after listing at $120,000, the bank hemmed and hawed, it ended up in foreclosure, the bank listed it at $105,000 and sold it for $106,000.
– Chocolate Bar – The rumors are true, they will be closing their California Avenue location and relocating to the old Divine Ultra Lounge space across from the Palladio. the sign went up today.
– Montage – With 126 units now sold, the Montage is one-third full. One interesting sale was unit 108, one of the first floor row houses with entries off Sierra Street. $220,000 for the fully furnished 2009 SF unit, or $110 psf. A couple penthouses are listed in the $215-200 psf range, but haven’t found any takers yet. Most of the units are selling in the $120-130 psf range, and prices do not look like they have been increasing, as was the original plan.
– CommRow – Opening of the wall, restaurants and indoor bouldering park are now scheduled for about 1 October. Some of the parking garage is supposed to be open by then, but I haven’t seen any work going on there yet.
You can click on the image then click on “Full Size” to super size it so you can zoom in on the details.. Notice the tow truck on the bottom left removing the aftermath of the first CommRow Gawker accident!
The view from Plaza and NVA. I’m amazed just how far the wall juts out over the street, and that it is really a ribbon and not a solid mass. No comment until it is finished, but this could look really junky when all the routes are installed.
Hiring for CommRow has started on their Jobs page. I think they may be a little more liberal that the Siena was!
Grand Wazoo
Great post Mike, I really like these kind of summary posts that you do.
The neighborhood west of UNR (where Vine Street is) is a smattering of mostly rundown student rentals, some elderly hangers on like 985 Vine Street, and surprisingly few yuppie bungalow remodels. Good bits and bad bits, it is just all over the place. The hidden gem is Pub and Sub on Ralston, perhaps the best NY style sub sandwiches in Reno, go for lunch when the owner is slicing the meats and cheeses. Nothing short of spectacular, and you can eat outside. Later on it is more of a student beer bar, the professional lunch crowd is long gone.
As far as CommRow, I noticed driving by today that the hotel portion is not supposed to open until 2012 (according to the posters plastered all over the site). I wish them all the best but frankly I smell stucco on this one …
inclinejj
Mike
Is Conn Row the project by Leal?
Mike McGonagle
AAH, Obi-wan, the smell of stucco is strong in this one!
Given the approval schedule for CR, it makes no sense for them to open the hotel portion just in time for the winter slump.
I sort of like the funkiness of West University, but it is truly block by block. To get some historic charm in this town, you have West of Wells (isn’t EVER going be livable – mixed use zoning doesn’t help, and barrio influences will eventually win out), Powning’s Addition (too much commercial interspersed to become a neighborhood again, and proximity to downtown may be a negative), Newlands Manor (CaChing, already happened), leaving only WUni as a potential gentrification zone.
MikeZ
Montage – With 126 units now sold, the Montage is one-third full.
Perhaps one-third are sold, but are they actually filled/occupied?
I walk by the Montage every few weeks, at night, and I would estimate ~ 90% of the units are dark.
Grand Wazoo
Good point about the WUni neighborhood being the last of the gentrication possibilities in town. I think the student rental angle however makes it tough – plenty of turnover, too many sketchy properties that are tolerable for students but not something you want your new refurb brick bungalow to be next to. There are other issues with neighborhoods with a high ratio of college students – noise, vandalism, and plenty of burglaries – some students forget to lock their doors, and all the bad guys know it.
CommRow had a booth at the Tour de Nez today, they appear to be getting ready to sell local memberships to the joint.
Robert
You guys are just too late on West of Univ. About, say, 50 years. I grew up on West 11th street in the early to mid 60s. Used to walk down to watch the Wolfpack basketball games in the old gym on Va. St. Used to walk to football games in the old Mackey Stadium, long since removed and the present site of the Mack Social Sciences building (which itself is about 40 years old now). Some of the old pine tees that used to line the north end zone are still there. Used to hang out at the North Virginia Steet market on the corner of Artemesia and Virginia until the old guy who owned the place would kick us out. St. Albert’s elementary school was where the UNR Human Resources dept is now.
I drive by the old house on 11th Street every now and then. It appears to be a student rental and pretty mistreated as Wazoo describes.
What a great neighborhood it was to grow up in. What a grand thing it would be if it could return to its past, but probably little chance.
Tofu Mary
Mike McGonagle, realty gossip hero… OMG, in Argentina and Uruguay, they sold these actual cow hoof mugs that you could drink liquids out of, like, in a sanitary fashion. I so kept wanting to buy one for you, but Jackpile is cheap and stopped me on more than one occasion, plus Guy once confessed to me that he would give THE hoof back to you, so, there you are… THE hoof is your destiny and belongs to you alone.
I am watching those Arlington Towers which seem to be becoming more and more affordable all the time. When I can get an 1100 sq ft southwest high-up corner apartment with a view for less than 80 ounces of gold, now we’re talking reasonable buy, IMHO, as it begins to compete seriously with high-security storage prices here in the BA, or as you call it… the cesspool? No, wait, snake pit. Whatever.
Anyway, still think Reno is a leading market. Keeping my eye on it.
sandra christensen
i can not decide of the pallidio or the montage. 68 years old. retiring in reno. i just can’t believe the 1 bedrooms don’t have a bath tub. i looked on your listings for the montage and u don’t specify the floor level. what is your opinion?
thank you.