Several large multifamily projects planned for 2020 in Northwest Reno

RENO, Nev. — Despite a veritable mountain of rocks and huge boulders that’s made grading difficult, site work is well underway at WestLook, the latest multifamily project for S3 Development.

WestLook will feature 192 garden-style units spread across nine three-story buildings plus a clubhouse. Residents will be able to park in front of their doors or in garages. The project will cost upwards of $40 million, says S3 chief executive officer Blake Smith.

Aspen Earthworks began mass grading in December, and bulldozers soon uncovered so many boulders that Aspen had to bring in a crusher to process the rocks.

“We had no idea we had this much rock out here,” Smith told the NNBW during an interview in mid-January. “But we are taking a negative and turning it into a positive — they will crush the rocks, and it will be used for base (material) in the foundations and as riprap on some of the tighter slopes (for erosion control).”

Read the full story here: ww.nnbw.com

Crews break ground on luxury apartment complex in Sparks

SPARKS, Nev. (KOLO) - Construction is underway on a major luxury apartment complex next to the Sparks Marina.

The 280-unit complex will be known as "Lyfe at the Marina." It's located on 10 acres of land at the corner of Marina Gateway Drive and Lincoln Way, next to the Outlets at Legends.

Development of this community is a joint venture of Reno-based S3 Development Company and its local investors along with an affiliate of Village Properties of Belmont, California. Pacific West Companies is the general contractor on the project.

Read the full story here: KOLO 8 News

Reno mayor unveils 'Blight Buster' initiative to clean up motels in downtown corridor

RENO, Nev. (News 4 & Fox 11) — Reno Mayor Hillary Schieve has been outspoken about her plan to remove blight in Reno and bring local motels up to code, but as developers renovate those businesses or demolish them all together, some are concerned about the thousands of people that could be displaced.

"This is truly redevelopment here," S3 Development Partner Blake Smith said as he watched his crews demolish an old motel on W. Fourth Street Wednesday morning. He said, "the city of Reno is changing and we want to be a part of it."

Read the full story here: Fox Reno

Dickson Commercial Group Completes Disposition of Premier Downtown Reno Office Building

Reno –  Dickson Commercial Group (DCG) is pleased to announce the successful sale of 1 E. Liberty Street in Downtown Reno. The six-story, 89,000 square-foot office building, commonly known as the U.S. Bank Building, was purchased by 1 Liberty C2K LLC, and was financed by New York Based UBS.

Dominic Brunetti, CCIM and Scott Shanks, SIOR represented the seller, Reno-based ownership group One East Liberty LLC, who acquired the property in 2013. Led by local development veteran Blake Smith, the group stabilized the building over a course of four years completing over $4.2 million in renovations and taking the building from 60 percent occupancy to 96 percent occupancy at time of sale.

Read the full story here: Nevada Business Magazine

U.S. Bank building fetches $18.3 million in downtown Reno

“Blake Smith and his team established a vision for a bustling hub at the most important corner in Reno, the intersection of downtown, Midtown and the 'Financial District',” Kirby said in a news release. “They delivered on their promises, creating a strong cornerstone property that now has drawn buyers with fresh capital to the region.”

UBS-AG based in New York financed the purchase of the 85,000 square-foot office, according to a news release. The office building is one of six downtown Reno office buildings in its category. 

Smith originally purchased the building for $5.9 million from U.S. Bancorp (U.S. Bank's parent company) in 2013, according to Washoe County Records. He said he put $4.2 million into improvements, including construction of the Starbucks drive-through on the corner and an outdoor seating area.

Read the full story here: Reno Gazette Journal