For the past two weeks, a glossy mailer seeking investors has been circulating across downtown Reno. It promised a 15% “guaranteed” return, a 2-year promise, then a sudden pivot to a mystery buyer.
Is it "flailing" or "flaying" around? Is that spelled with a "y" or an "ai" in the middle? 'Cause that's what this sounds like.
I've only been here for 6 years and "the whole downtown revival issue" remains totally unresolved, undirected, uninspired, uninteresting, unmanaged and unfulfilled. I know. Too many "uns" in a single sentence.
As to the present "offering" this seems like either a "hail mary" from someone "in the middle" trying to make a fast buck on a "flip" of some sort... and just a scam from the get go.
Most of the "reimagining" seems to revolve around the Harrahs, so I suspect that was the "project."
The Harrahs fiasco (oops, opportunity) remains just a fiasco, in spite of the PowerPoints, posters, banners and RGJ articles. Apparently there's just no way to make it pencil out. So we're stuck with the big, ugly, empty, boarded up, half demolished elephant in the room, since NO revival plan can likely take hold without a Harrahs "reimagining." The lonely Starbucks is seemingly the "anchor tenant" for this space of hundreds of thousands of square feet.
The City of Reno is apparently powerless to actually DO something about downtown, other than hand wring and remark "it's all private property. we can do nothing." This seems quite remarkable since the City CAN do something with the J, and the GSR, and residential development, and any OTHER "development" that comes before them. Can not Meruelo or Jacobs figure out how to "remake" Harrahs? Perhaps the J and the GSR do NOT want a remodeled Harrahs, which would compete with them?
So we just plod along.
Not to worry though! Data centers will save us. We can convene in their parking lots and listen to the hum. But you had better go buy some candles so that when electricity becomes unaffordable you can still read Mike's articles in the dark.
The problem with allowing gaming out of the downtown area I’d love to see the cost of demo.
Tax assessment also minimizes the owners need to do something since the taxes are low for an under utilized property.
I’d love to see a “Georges tax” applied to all the under utilized properties. If taxes reflected the best use, then the current owners would have a higher financial incentive to sell. Bringing down acquisition cost & making more projects pencil out.
Is it "flailing" or "flaying" around? Is that spelled with a "y" or an "ai" in the middle? 'Cause that's what this sounds like.
I've only been here for 6 years and "the whole downtown revival issue" remains totally unresolved, undirected, uninspired, uninteresting, unmanaged and unfulfilled. I know. Too many "uns" in a single sentence.
As to the present "offering" this seems like either a "hail mary" from someone "in the middle" trying to make a fast buck on a "flip" of some sort... and just a scam from the get go.
Most of the "reimagining" seems to revolve around the Harrahs, so I suspect that was the "project."
The Harrahs fiasco (oops, opportunity) remains just a fiasco, in spite of the PowerPoints, posters, banners and RGJ articles. Apparently there's just no way to make it pencil out. So we're stuck with the big, ugly, empty, boarded up, half demolished elephant in the room, since NO revival plan can likely take hold without a Harrahs "reimagining." The lonely Starbucks is seemingly the "anchor tenant" for this space of hundreds of thousands of square feet.
The City of Reno is apparently powerless to actually DO something about downtown, other than hand wring and remark "it's all private property. we can do nothing." This seems quite remarkable since the City CAN do something with the J, and the GSR, and residential development, and any OTHER "development" that comes before them. Can not Meruelo or Jacobs figure out how to "remake" Harrahs? Perhaps the J and the GSR do NOT want a remodeled Harrahs, which would compete with them?
So we just plod along.
Not to worry though! Data centers will save us. We can convene in their parking lots and listen to the hum. But you had better go buy some candles so that when electricity becomes unaffordable you can still read Mike's articles in the dark.
The problem with allowing gaming out of the downtown area I’d love to see the cost of demo.
Tax assessment also minimizes the owners need to do something since the taxes are low for an under utilized property.
I’d love to see a “Georges tax” applied to all the under utilized properties. If taxes reflected the best use, then the current owners would have a higher financial incentive to sell. Bringing down acquisition cost & making more projects pencil out.
Land cost of 15% should pencil.
Great article. Thanks. Steve
Mike, 3/30/26
MORE proof that you belong somewhere (important) in Reno govt!!
I am going to contact Kate Marshall and prompt her to bring you on to her staff.
As 1 of her first Mayoral ORDERS!
Sam DNA Dehne. https://www.renocitizen.com/movies.htm
PS!
Election Laws - THE ORDERS TO ALL AMERICANS:
"MOTHERHOOD, B-52 BOMBERS, AMERICAN FLAG,
AND I.D. CARDS!" ~ ~Sam DNA Dehne
PS #2:
No more of citizens' $millions of $dozens of $taxes must ever be wasted (filtered to crones) for soccer boondoggles ever!