Like Universal Citywalk in Universal City, Calif., like the Irvine Spectrum Center in Irvine, Calif., like Easton Town Center in Columbus, Ohio that's what the destination retail development being discussed for the Sparks Marina is going to be like, if all goes well this time.
The project, as yet unnamed, is back in the plans for 123 acres east of the Sparks Marina.
It's a tourism-driven project, says Steve Graham, vice president of destination development for RED Development, LLC, the firm proposing the center.
"It's designed to be a highly visited site," he adds.
And it expects to serve in excess of 10 million visitors per year, attracting people from a 500-mile radius, as well as augmenting the overall draw for tourists into the Reno- Sparks area.
The Sparks Marina plays heavily in the design of the center.Waterside restaurants, waterfront themes, a canal running through the center, and water taxi rides are all in the plans.
"It will be a unique, experiential venue," says Graham.
Armando Ornelas, redevelopment manager for Sparks, explains: "One of the truly exciting aspects is the entertainment island a mix of restaurant, entertainment venues and related retail."Again,Universal Citywalk pops up as a comparison.
The project was first proposed more than a year ago.
It hit a few snags, says Ornelas, and stalled.
The snags? The property lies in a Federal Emergency Management Agency flood plain, a fact that had gone undisclosed when Red optioned the property.When the issue surfaced, the developer stopped making option payments.
Forward momentum ground to a halt.
Flood control improvements were made; the changes submitted to FEMA for a flood plain revision.Negotiations resumed.Red Development moved forward with the primary property owner, Capital Development Company, and recently re-entered an exclusive negotiation and predevelopment agreement with Sparks.
The project, though still in the predevelopment stages still facing long-range feasibility studies, cost studies, community workshops, and negotiations around available incentives is again moving forward.
"We are very optimistic," says Ornelas, that a project along the lines of Universal Citywalk will happen."
The ideal, he adds,would include about one million square feet to 1.5 million square feet of large retailers, restaurant, entertainment and specialties.
"We have had a lot of interest from retailers," says Graham.And he credits the city of Sparks with being tremendously supportive.
"We are going above and beyond to assist Red Development," says Tom Burrous, Sparks redevelopment/economic development analyst.
Sales Tax Anticipated Revenue STAR Bonds are some of the economic incentives helping to attract the developer.
Also, adds Ornelas, the project acreage is within a redevelopment area, which may provide assistance with infrastructure.
If all goes well, says Graham "and so far it is" the developer hopes to announce retailer names by this summer and could begin construction before the end of the year.
