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No April Fools, the Montage Ribbon Cutting Ceremony

04-02-09 -I'll have more details soon (courtesy Andrew Pridgen from Tahoe Ticker who is kindly going to share notes while I was on picture duty) but for now here are some pictures from The Montage ribbon cutting ceremony today, which featured Ellen Opphenheim from the Reno Sparks Convention Visitors Authority, Milton Glick from the University of Nevada Reno, Chuck Alvey from EDAWN, and Mayor Bob Cashell as speakers. All of them had great praise for L3 Development and The Montage. Local media was there to cover the event and interview some very happy Montage buyers. It was a nice closure to this chapter of the Montage, which had a lot of ups, and a few downs courtesy the economy. Now, a new chapter begins which involves residents moving in, and enjoying the building L3 Development worked so hard to complete. A building with no leins, high quality construction, and just take a look at the older renderings of The Montage, and look at the end result. They are identical. So props to L3 Development. Even in the midst of this economic mess we're in, the Montage will serve as the catalyst project downtown needs so desperately, in conjunction with the other great redevelopment projects currently underway. As we head into downtown's prime season of summer, I have a good feeling about The Montage, baseball and downtown in general. Click here for the pictures.

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Posted by: babyface - 4/2/2009 7:30:19 AM
According to my records, the Montage has had 11 closings: 3/17 – two units 3/19 – two units 3/20 – four units 3/23 – three units Since 3/23, there have been no more closings? I wonder why. Could it be no more buyers wish to close? BF

Posted by: Matthew A. - 4/2/2009 7:30:23 AM
Hooray!

Posted by: DowntownMakeoverDude - 4/2/2009 8:16:00 AM
Greetings Babyface, actually your figures are not correct, those are outdated...I think there have been at least 13 closings, and they can only perform 1 to 2 closings per week, so yes, there are more closings coming up. :)

Posted by: Babyface - 4/2/2009 11:19:55 AM
As of April 2nd, 11:15 am, the recorders office show 12 deeds issued by Montage Marketing Corporation. The first deed recorded was on 3/17 The last deed recorded was on March 24 at 4:11 pm. You could be right. Perhaps the Montage "can only perform 1 to 2 closings per week, so yes, there are more closings coming up." All I know for sure is that 12 deeds recorded in the first week, and none in the following week. BF

Posted by: BUYER - 4/2/2009 12:44:22 PM
DTM: Are you sure they can only do 1-2 closings per week...if all units were in contract, it would take several years to complete all the closings at that rate.

Posted by: DowntownMakeoverDude - 4/2/2009 1:19:49 PM
Hi BUYER, that's what I was told by a buyer at the Ribbon Cutting last night, so it's heresay at best. However, I think they were referring to the beginning process, and I would expect/hope the number of units they can simultaneously close to rise. That's a good question for them. I'll ask. And Babyface, I edited out the specifics of each deed you mentioned, not sure if it's legal or whatever to show the actual buyers and deeds, I'm not a lawyer and don't want to take the chance of getting sued haha.

Posted by: Montagebuyer4 - 4/2/2009 1:24:42 PM
Despite any differences I have with my contract, L3 has done a fabulous job with the building. Absolutely gorgeous. It will truly be the cornerstone of the downtown revitalization. I wish them well.

Posted by: Native - 4/2/2009 6:40:57 PM
Are we seriously going to carefully count closings rather than celebrating the success of the development? There ARE closings - that's the point. People HAVE moved in...that's the beginning of more people able to support a downtown economy. We're making way for more development and business with this development - let's be thankful for it's timing in today's market, and quit nit picking the progress to death.

Posted by: babyface - 4/2/2009 7:43:42 PM
I edited out the specifics of each deed you mentioned, not sure if it's legal or whatever to show the actual buyers and deeds, ======== The specific are PUBLIC records freely available to anyone who logs onto the Washoe County Recorder's website. BF

Posted by: Montagebuyer4 - 4/2/2009 8:11:03 PM
Native - your right. This is a time to be happy about the Montage. I really like downtown Reno, and despite all the setbacks, mostly due to the economy, I believe there is still progress being made. As a season ticket holder I'm looking forward to the Aces getting under way. Ballpark, Montage, West St. market - well that's a heck of a start.

Posted by: Kaseygirl - 4/4/2009 2:32:25 PM
I am so happy for Reno and Fernando. He accomplished something that no one else in Reno has yet to do. The Montage is a serious move in the right direction for downtown. We need to encourage more business and entrepreneurs to take the plunge and truly strive to revitalize downtown. Redevelopment is completely willing to work with people and do whatever they can to accomodate new businesses looking to go downtown. I am excited for Reno and what is happening to our little city!

Posted by: Montagebuyer4 - 4/5/2009 10:30:09 PM
Kaseygirl - I couldn't agree with you more about the Montage building being a cornerstone of downtown redevelopment. Just keep in mind there is a certain faction that believed they invested in the downtown redevelopment via a deposit in the Montage - and those terms have changed.If this was truly a 'win win' project, those people should have been released from their obligation and their deposits returned.

 

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