Home / News / Siegel Group to Probably Acquire El Cortez Downtown

Siegel Group to Probably Acquire El Cortez Downtown

by Mike Van Houten / Jun 13, 2014

Siegel Group has had their eyes set on El Cortez for a while, as ReReno reported here months ago, but now it looks like the sale will be completed shortly.

They plan upgrades to the building while keeping its historic character mostly intact..mostly painting, upgrading the floors, modernizing equipment/appliances and things of that nature. Work will begin in vacant rooms first.

They are aggressively planning to fill the western retail spaces and are already entertaining offers from potential tenants.

Meanwhile, according to RGJ they have submitted plans to the city for remodeling the Truckee Lane building.

And according to ReReno, they have submitted plans for roof work on the Virginian.

I can't wait to see what they do with the Truckee Lane Building, Virginian and El Cortez!

Tagged under: downtown Renorenovationspermitsliving downtownSiegel GroupEl Cortezdowntown Reno residential
Post your comments
  • eyeball
    June 14, 2014 - 4:13:38 PM

    well, just look at the "siegel suites" ... bad bad bad-- IF that is any indication of the savior siegel's work

  • H.E.
    June 15, 2014 - 9:46:20 AM

    @Eyeball, I'm glad to see someone else has the same opinion of our "Savior". I'm betting the Truckee building remains as is (why renovate when you still have shops and tenants still paying the bills), El cortez will remain as is, with the western shops maybe getting full. The only thing to change might be the Virginian, and even then I'm not holding my breath.

  • Matt
    June 15, 2014 - 8:17:14 PM

    Don't be so quick to judge, just because of the Siegel Suites, that is an extended stay brand they own, it's not their whole company. Mind you these guys own two high profile Vegas boutique hotels that aren't sketchy at all, they have real intentions for their Reno properties they're acquiring. Truckee Lane IS getting renovated, to what extent we've yet to see as is the Virginian. Very excited to see their plans unveil. Give them a chance, they didn't just hop off a bandwagon.

  • eyeball
    June 16, 2014 - 8:20:53 PM

    It is just that we have all seen this before in reno: a new guy blows into town with a lot of cash, everybody falls in love with him, he gets a ton of press, then, nothing... nothing ... nothing. remember when everybody was touting fernando leal as the next mayor of reno?

  • Prifitz
    September 17, 2014 - 10:31:02 AM

    Fernando Leal is a wonderful man full of heart and a true man of vision. He did great things for Reno even though many of his ideas were shot down by the City of Reno. Sometimes is not enough having a savvy businessman loaded with cash and some innovative perspective come our way. We also need to give them support and put the petty politics on hold.

≡MENU
≡