Ah yes, Thoma Lofts. This was a project a little too ahead of its time. Had the land remained vacant until now and not been bought up by the Carter Brothers for the development of the Sticks project, these undoubtedly would have sold in early 2015's market. With Glen Manor at Virginia Lake completely built out, the Cottages at Midtown actually landing in contract for their asking prices of the mid $400,000's, these quickly would have sold.
This lot is now home to the Sticks Project, a commercial/retail project now it's in third phase of development.
05/10/09 - PROJECT UPDATE - Project continues to remain on hold. 'Excuse our Delay' signs are currently posted on the property. The developer stated that they still plan to move forward with their original loft plans on this page once the economy improves.
8/26/08 - THOMA LOFTS BACK ON THE RADAR - Interesting. Thoma Lofts may not entirely be off the radar yet, they are appearing before the next Ward 3 Advisory Board Meeting, and looks like they will be submitting a new tentative map on the September 3 Planning Commission meeting. Looks like they want to make the front setback a little smaller and reduce some kind of landscape buffer between them and a property south of them. LDC09-00016 (Thoma Street Lofts) - This is a request for: 1) a tentative map to develop a 33 lot work/live condominium subdivision; 2) a special use permit in lieu of a site plan review to develop more than 4 units and less than 100 units; and 3) variances to: a) a reduce the front yard setback from 18 feet to ±13.8 feet; and b) eliminate the 5 foot wide landscape buffer between the on site parking spaces and the adjacent property to the south. The ±1.29 acre site is located on the south side of Thoma Street between South Virginia Street and Center Street in the MU/SVTC (Mixed Use/South Virginia Street Transit Corridor) zone.
7/7/2007 - THOMA LOFTS STARTS SALES PROCESS - What a pleasant surprise! A new web site and on-site signs and flags mark the next, long-delayed step for Thoma Lofts, a set of 33 live-work units on Thoma, Virginia and Center Streets. These are architecturally rich in design, with arched windows, and HUGE loft ceilings.
UPDATE 1/29/07 - There were some recent posts about this project being scrapped, so I decided to ask the developer directly.
"Just rumor Mike! We are going to start our pre-sales in April which will include very high level virtual tour of the exteriors, interiors and finishes giving the prospective buyer a good sense of the lifestyle. We are introducing a new lifestyle product to Reno that has been highly successful in other urban markets, received primarily by professionals, both singles and couples. We feel this is the right product for this location however the market conditions are a concern, so we are going to move cautiously."
Also, fencing is now up around the property. And check out the new pics!
Comments:Post your comments
Posted by: Wiley_N_Reno - 6/20/2007 8:11:33 AM
I drive by here almost daily. Perimeter fencing is still there, see no activity, sign says land is "For Sale. Looks like the Thoma Lofts are bye-bye.
Posted by: Mike Van H - 6/20/2007 9:19:02 AM
Hi Wiley! Well the For Sale sign was there long before Siena Communities bought the land. This developer is massively behind schedule, but according to them it is still being built. They just finished up a new website for Thoma Lofts, Ive seen it, although I have been sworn to secrecy until they officially launch it. From what other developers in town have told me, Siena Communities is a bit squeemish about the market, and wanted to see how 8 on Center sold before really committing to it. They plan on launching an onsite sales effort once the web site is complete in July, which was moved up from May. Most I have talked to in the industry have given up hope these will be built, however the developer is still actively building up a sales strategy in the background, getting new renderings done, new web site for it, those things arent cheap. I am on the fence with this one. Trying to be the proverbial optimist still.
Posted by: Justin - 10/30/2007 7:42:42 AM
Any news on this project? I can't say I'm a huge fan of the design based on the renderings, but the location seems ripe for infill/urbanization.
This will be a nice complement to the 8 On Center project. This project will comprise of three-story units with work/retail space on the bottom floor. This kind of project is ideal for this area, and will fill-in an ugly empty lot that is directly across from Luciano's, a tavern, and a tattoo parlor. On Thoma Street, it will flank the newly built Senior Apartment complex. A portion of the project will also wrap around on Center Street as well.
More info to come! I am excited about this project, it gives people the chance to own both a living space AND a work space with a true retail/commercial facade and feel to it from the outside on street level. This developer, Siena Communities, is also looking at the parcels around the Freight House on Lake Street for live/work units and retail space.