Downtown Reno

UPDATE 3-22-07: Belvedere Towers has the street blocked off and is ready to install the steel superstructure (stacked on the street) for the two floors of new penthouses on the shorter tower (probably beginning today).  According to the sales agent, they need to get the penthouse superstructure up, roofed and enclosed before they can begin closing on existing sales.  They have about 95 contracts (out of 176 small tower residences) and hope to begin closing relatively soon on floors 1-3.  They are offering some financing and closing cost incentives to try and sell out the rest of the lower floors.

UPDATE 9-28-06: The overall concept of this project has changed considerably since the project was first approved and the developer initially started to do simple "cosmetic" rehabs of the existing space. First it was the color scheme that changed, and then, after further consideration, they decided that a bare rehab did not fit THE AREA and THE BUYERS and elected to do a complete interior demo and then rebuild all the units from putting in new studs on out. All windows are also new. The rebuild is actually quite substantial. There will be three phases. 1) The small tower - which will begin closing on the lower units next spring and be pretty much sold out by year end 2007 - and will have two stories of penthouses added to the top. 2) The mid-rise section - which will have the mechanical equipment that currently sits on the roof removed and relocated and at least one story added to the buildings. All except the bottom floor will be residential composed of various type of lofts and innovative plans. Finally, there will be 12,000sf of retail on the ground floor tentatively consisting of an upscale restaurant, a deli and perhaps a small sundries store. (completion 2008). 3) The tall tower (completion estimated in 2009). Phase 1 consists of 177 units and the total project has 370. Phase 1 pricing is: $140-180K (depending upon the floor) for small 250 sf studios (with murphy beds included). Low 200's to high 300's for 1 and 2 bedroom units and about 650K for the 1200sf penthouses. Condo association fees range from 160-375 per month excluding electric and water. Given the wide price range of units available this could be quite a successful project.

UPDATE 6-20-06: From Seventies to Soho, the exterior of Belvedere Towers gets a makeover with a Soho color scheme that is similar to other buildings in the downtown area. I like it!

This project is well under way, and although you may not be able to tell when you drive buy from the outside of the former Sundowner Hotel/Casino, the inside is being completely gutted down to the frame and support work. These condos are designed to have a little less flash, and a bit more affordability than the Palladio or Riverwalk Towers. Perks will include rooftop pool/lounge area, fitness gym and lobby with Craftsman overtones. Prices will be from $120,000 to $375,000. Rumor has it the developer is REALLY trying to secure a grocery store for the bottom floor, but nothing has been secured yet.

View web site: http://www.belvederetowers.com/