The Toll Brothers received Reno City Council approval for a series of ordinances related to its Talus Valley Villages master plan on Oct. 21.
Toll Brothers’ affiliate, TL Talus LLC, is listed as the owner and developer of the master plan. Wood Rodgers, Inc. is the project representative and civil engineer. (NVBEX: Feb. 24; April 11)
The ordinances will create a special assessment district that will assist in financing infrastructure for the master planned development.
The initial proposal consisted of several parcels across 980 acres that would have included 4,700 housing units. The project has since been updated to include 2,510 homes across three separate districts.
The master plan spans from Town Center Parkway just north of South Meadows Parkway to just before Mira Loma Drive.
The special assessment district is officially known as 2026 Special Assessment District No. 1. It accounts for roughly 67 acres of the project that is being jointly developed by Toll Brothers and Lennar. The area includes 10 villages and roughly 774 homes.
Four items were on the agenda regarding the special assessment district. The first two were approved 6-1, while the second two received unanimous approval. The approval could result in the issuance of local improvement bonds by the City of Reno for up to $9.5M. Additional costs will be paid by the developers. The bonds, however, are not a financial obligation and will be funded via property assessments. (Source: Reno Gazette-Journal)
