Park lane Mall redevelopment (Reno: sales, apartments, hotel)

[Nn2036]

Update: Park Lane Mall redevelopment plans revealed, project in line for $3.5M subsidy

The developer of the former Park Lane Mall site released new details on his planned $500 million mixed-use development for the site. He also asked for $3.5 million in public funding to help him bring it to reality.

South Virginia Street looking north to grocery store in the Park Lane Mall redevelopment.
Renderings provided to the RGJ
After developer Chip Bowlby, owner of Reno Land Inc., presented his plans at a meeting Wednesday, the Reno City Council unanimously gave staff the go ahead to negotiate a way to give him the $3.5 million assist to reconfigure a sewage and storm drain system on the 45-acre plot of land.
Reconfiguring that infrastructure would cost the developers another $11 million total. Exactly how the city will help fund the reconfiguration is unknown. Staff will research possibilities for funding the move for a future council meeting. One proposal is that the city waive $3.5 million of the estimated $6.9 million in sewer connection fees the developer would have to pay for the project.
Councilwoman Jenny Brekhus said the relocation is a worthwhile use of public funds. The project achieves a council goal to promote urban infill development. She also said the money wouldn't necessarily go directly to the developer. Rather, the city would spend the money on public infrastructure needed for the development.

"Really, if we were ahead of the curve, but we have been in a crisis mode, in 2012 we would’ve gotten this site ready," Brekhus said. "We would have worked with the owners and put into our (capital improvement plan) to do a $3 million project to make this site ready. That’s what city's do when they have a big infill site and they have encumbrances with public infrastructure there. But in 2012 we were just barely keeping the sewer treatment plant from a major crisis."
Rick Casazza, sole owner of Shoppers Square, spoke at Reno City Council in support of the Park Lane Mall redevelopment. He also said Shoppers Square plans $15 million remodel in the coming months.
The Park Lane Plan
The aerial renderings and maps of the Park Lane development shows one large anchor tenant, four major retail tenants, restaurants, shops, drug store, small grocery market, bank and hotel. Renderings show the current Century Park Lane 16 staying put with new parking behind it. One rendering shows the "Believe" sculpture in front of a structure, which Bowlby said is a visual place holder for future art.
“We recognize that this is an important location, a gateway to Reno as well the southern anchor of Midtown,” Bowlby said in a press release “We have taken great care to develop a plan that delivers on the community’s vision to bring fresh life to this site.”




The plan unveiled to the Reno City Council calls for work to begin next spring on the first phase, which includes two distinct neighborhoods with 725 total residential units, according to the presentation. The buildings would include five-story wrap structures as well as urban-garden apartments. Homes would range from studios to three-bedroom units.
That first phase would be followed by construction of 110,000 square feet of retail and restaurant space, 100,000 square feet of offices and another 510 five story wrap units. All the buildings will be framed within extensive landscaping and green spaces.
The aerial view shows residential on the edges of the development along Plumb Lane on the north and Grove Street on the south for a total of 1,235 new units.



The plans take inspiration from Uptown in Newport Beach, Calif., A-Town in Anaheim, Calif., The Park and Village in Irvine, Calif. and several other mixed-use developments in California.

“We have designed a community that is walkable, transit-friendly and sustainable,” Rick Emsiek, president and chief operating officer of MVE+Partners, the architectural firm that created the design for the former Park Lane site, said in a press release. “We have taken many steps to create gathering spots within this new community, and we have designed the project to encourage residents to engage with their neighborhood in their work and their lives.”
Bowlby's presentation outlined estimated property tax revenue of $77.8 million for the city of Reno, Washoe County School District and city of Reno Redevelopment District 2. It also outlined sales tax revenue of $25.1 million to the city of Reno and Washoe County School district.
It also estimates job creation of 3,200 construction jobs and 700 permanent jobs once completed.

[Mia775]

Lost me at "public funding"

Nevada gotta stop subsidizing businesses and start focusing on fixing schools

[Nn2036]

Unfortunately, it is not something unique for Nevada, it is the same all over the country.

[Nn2036]

The plan looks slightly different





Park Lane preparing to break ground and start construction
Park Lane to break ground and start construction soon

Fly through the proposed development

Fly through the proposed Park Lane redevelopment

[toomuchthinking]

Originally Posted by Mia775

Lost me at "public funding"

Nevada gotta stop subsidizing businesses and start focusing on fixing schools

Yea the focus was raising the sales tax to the highest in the state. Some of the first projects was "landscaping". WCSD severely corrupt.

[toomuchthinking]

The city spent millions on some water or sewer thing. I can't remember the details. And they are putting in "high end" housing - one beds starting at $1000-$1200. Laughable when I see new high end units all over starting for more than that. Again - Reno shirks average income people to cater to the mass influx of Bay Area and other folk flocking here.

[trailtramp]

In town a few weeks ago, whats going on with Park Lane redevelopment? Looks to be stalled, such a great location needing lots of attention

[Nn2036]

Originally Posted by trailtramp

In town a few weeks ago, whats going on with Park Lane redevelopment? Looks to be stalled, such a great location needing lots of attention

I drove by everyday. Lots of activity. I think they are building some short of concrete parking garage.

One the site work is done, these wood-framed building can be built in no time.

[Vic Romano]

Yes, they are doing work in earnest right now. Makes sense, it's in conjunction with the update of Virginia Street just to the north.