A Stead company spotted a growth niche last year after Reno passed an ordinance that requires vehicles parked in the side yard to be screened from public view.
That made boats, trailers and motor homes suddenly non grata on the home front, says Dan Douglass, one of eight partners in North Valley LLC, which turned 20 acres near Stead Blvd. and North Virginia Street into a self-storage haven for recreational vehicles.
The popularity of residential CC&Rs covenants, codes and restrictions in residential developments drive growth in this industry, he says.
"We keep getting calls for covered RV parking." And it's no wonder people are willing to rent enclosed garages, he adds, when the rigs go for $500,000 to $1 million.
The first phase of North Valley Self Storage built three years ago had only 16 covered big rig berths. The second phase has 188. Nine acres were paved at a cost of $444,000. "It looks like an airport," says Douglass of the build out, expected to be finished in a few weeks.
Douglass expects the arrival of increased water to further drive growth in the area of his project. Vidler Water Co. is developing a pipeline to channel water from Fish Springs Ranch at the south end of Smoke Rock Desert to the Stead area.
In addition to a population base, he says, "Success in self-storage takes a sensitivity to the rental rate in your area and a knack for dialing in your mix."
Mix the size of units depends on demographics. In the first phase, Douglass built too many five-by-five units.
"Those proved too small, unless they're near a college," he says. "Smaller spaces bring a higher price per square foot, but what good is that if you can't rent it?" The most popular size in Stead is the 10-by-20 foot unit.
North Valley Self Storage contracted with Gradex Construction to pave, Amtech Construction as general contractor, and Kiwi Construction to erect the metal buildings.
