Madison Capital Group owns the project, while Ahlquist is serving as the developer. Gensler is the architect, and Engineered Structures, Inc. is the general contractor. (NVBEX March 15; April 3; July 24)

The project, in its entirety, will feature 282 multifamily units, 133.7KSF of retail/entertainment space, 120.5KSF of office space, 12.1KSF of amenities, 390 hotel rooms, a 900-space garage and a 50KSF plaza.

One tower will contain residential and office space, while the other will have the hotel. The first floor of the buildings will be home to retail and restaurant space.

First Permit

The first permit was filed for work on the former Reno National Bank. The building was originally constructed in 1915. The submitted permit consists of demolition work for the upcoming buildout and roofing replacement work.

Once the work is completed on the bank building, three restaurants are slated to move in. Fine Entertainment is bringing its PKWY Tavern, BLVD Grill and Mint to the property. Designs currently call for an arcade bar area that features bowling and billiards.

Second Permit

The second permit sets its sights on the parking garage on University Way. Renovations include repairs to the concrete floor, stairs and doors. Repair work will also be done on the columns and exterior façade. Striping work will be done on the first floor alongside the implementation of new electrical systems.

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The project is owned by Madison Capital Group and is being developed by Ahlquist. Gensler is the architect, and Engineered Structures, Inc. is the general contractor. (NVBEX March 15; April 3)

Plans consist of 282 multifamily units, 133.7KSF of retail/entertainment space, 120.5KSF of office space, 12.1KSF of amenities, 390 hotel rooms, a 900-parking space garage and a 50KSF plaza.

In total, there will be two large towers featuring retail on the first floor. One tower will be made up of residential and office space, while the other will contain the hotel.

The tentative map is set to subdivide the former Harrah’s casino into 33 separate parcels.

Construction had previously commenced on the project but later halted due to funding issues. Madison Capital Group then purchased the development with the intention of proceeding with construction.

While the map was approved, commissioners did weigh in on concerns surrounding traffic, pedestrian access and safety.

Construction could commence as early as September, with a financing agreement near finalization.

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Madison Capital Group recently gained full control of the former Reno City Center. According to an interview with the CEO of developer Ahlquist, Tommy Ahlquist, Gensler is the architect, and Engineered Structures, Inc. is the general contractor.

The project consists of 282 multifamily units, 133.7KSF of retail/entertainment space, 120.5KSF of office space, 12.1KSF of amenities, 390 hotel rooms, 900 parking spaces in a garage, and a 50KSF plaza. A press release indicates the retail portion of the project is the central aspect, with the other elements helping to flesh out an urban living and working culture.

The project consists of two large towers with retail on the first floor. One tower includes both residential and office space, while the other tower primarily features the hotel.

Construction previously began on the project but was later delayed due to funding issues. As the project is now owned by Madison Capital Group, it can proceed. Ahlquist stated the multifamily aspect in the north tower is approximately 70% complete, meaning it will be finished rather quickly once construction picks up again.

While many subcontractors are returning to the project, both Gensler and ESI are new parties. Ahlquist did not have an evaluation of the total project cost, but he stated the remaining cost to complete is estimated at $120M.

Currently, developers are in the process of reactivating building permits. Ahlquist stated this project is easier to pick up than others as it did not sit for an extended period.

Different aspects of the project are to have staggered openings. If everything goes to plan, some of the retail sections will open later this year. The multifamily and hotel towers are expected to open next year. Developers anticipate breaking ground in the coming months.

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