The once down-at-the-heels neighborhood along Virginia Street at the south edge of Reno's downtown continues to get a facelift as residential development moves into the area including a townhome project planned by a California company.
The townhouse development comes on the heels of Carriage Stone Senior Apartments, a 96-unit complex at Thoma and South Virginia streets, and the condo project Eight-on-Center under construction a few blocks south on Center Street.
The 33-unit townhouse development is the first project in Reno for the Ventura, Calif., firm Siena Communities LLC.
"Our analyst liked the city's good job growth," says owner Craig Mattey. He hopes the concept will appeal to the Y-generation who will want to live and work downtown.
"We want a true live-work situation," says Mattey. So each two-story townhouse will sit atop a retail unit of 100 to 400 square feet. A two-car garage is in back. Residential units will range from 1,500 to 2,000 square feet.
And owners must truly live above the shop. They won't be allowed to rent out the retail portion.
Siena has done similar projects and feels pride of ownership is important on the retail side. And, it wants those retailers to be services like hair salons or medical offices. Tattoo shops and massage parlors are not permitted.
Thoma Lofts LLC purchased 1.3 acres at Thoma Street between South Virginia and Center streets. (The property is behind Maytan Music.)
It plans to break ground in late spring with build out complete within a year. The city government has approved the development.
Design of Thoma Lofts will go with the downtown Reno brick motif, says Mattey.
"We looked around downtown and picked out materials we felt would fit in," he says.
Pricing is not yet set, he says, due to the changing market.
Wood Rogers Inc. is civil engineer on the project.
