Written by: Farah Vitale

Nine years later, Reno’s latest transformation is underway.

The vacant lot, where Park Lane Mall used to be, finally has a plan for development. The buyers of the lot, Reno Land Inc., are going to build housing, business space and office space. City Council is helping Reno Land Inc. examine different plans for the 45 acre property. The plan so far has 725 residential units, 110,000 square feet for retail and restaurants and 100,000 square feet for offices. The lot is an important location, linking Midtown to South Reno.

Park Lane Mall was torn down in 2007 and plans for the lot never followed through. Finally developers bought the lot and work to transform the area for shopping, dining and living. This means more jobs and more housing, which are both a great addition to Reno. With rent increasing in the area, Reno Land Inc. want to provide housing for low-income earners.

A huge opportunity for revenue.

The first phase of the project will include removing the sewer lines that run across the lot. The property needs to be pedestrian safe and City Council gave developers a limit of $3.5 million for Phase 1. The economic impacts of the project will be worth it. Over the next 20 years, more than $25 million is estimated to generate in sales tax revenues for the City and Washoe County School District. The construction will create about 3,200 jobs and the new businesses will create more than 700 jobs. The developers also believe that the $63-77 million property tax based on the $500 million putting in sales tax can go to school and police. Phase 1 will begin in the Spring.

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