Reno Tahoe is in the midst of a revolutionary period of growth. In fact, Reno secured the #16 spot amongst Best Performing Large Cities of 2023 based on factors like job growth, wage growth, high tech GDP, and housing affordability¹. This upward trend is altering the perception of the region as savvy individuals realize Reno Tahoe’s potential.
The area isn’t only a booming residential hotspot. Commercial developers are betting big on the Biggest Little City and reaping the rewards. Attracted to the area by favorable tax laws and ample area to set up shop, numerous business developments are underway in every corner of Reno Tahoe. Brand new facilities are breaking ground, and several existing properties are being reimagined.
Reno Public Market: This mixed-use development project has transformed the former Shoppers Square Mall site into a modern urban marketplace. The shared-space facility offers a variety of retail, dining, and entertainment options, as well as office space and residential units. Tenants range from food truck eateries who now enjoy a semi-permanent storefront, to artistic creation spaces that embody the uniqueness of the Reno Tahoe Region.
Reno Experience District (RED): The Reno Experience District is another mixed-use project located on the site of the former Park Lane Mall. The development is set to include hotel space, long-term rentals, retail, and office space, as well as parks and public gathering areas. The project aims to revitalize the area and create a vibrant destination for locals and visitors alike.
Switch Tahoe Reno Data Center: The Switch Tahoe Reno Data Center is a massive data facility located in the Tahoe Reno Industrial Center. The facility is one of the largest data centers in the world, and serves as a hub for cloud computing, big data, and other high-tech applications.
Downtown Reno Brewery District: The Downtown Reno Brewery District is a collection of craft breweries and taprooms located in the heart of downtown Reno. The district has become a popular destination for locals and those visiting Reno, and has helped to transform the area.
Cal Neva Lodge: Built in 1926, the Cal Neva Lodge & Resort is a historic building on the eastern shore of North Lake Tahoe. A group of investors purchased the property in 2013 and initiated a $49 million renovation project to restore it to its former glory. The renovations include updates to the hotel rooms, restaurants, and the casino, as well as the addition of a spa and event center.
J Resort: In 2019, Jacobs Entertainment Inc. acquired the Sands Regency, a hotel and casino in downtown Reno. The goal is to revamp the 4th Street Corridor and inject new life into the area. The redevelopment plan includes the creation of a mixed-use space centered around the renovated hotel, retail areas, apartments, and a parking garage to accommodate visitors. The completion of J Resort and the surrounding blocks ushers in a new flagship property and entertainment hub to downtown Reno.
Midtown: Midtown Reno is a thriving district, filled with quirky coffee shops and trendy boutiques. It has quickly become a heavily-desired neighborhood to live in and enjoy an eclectic range of commerce and entertainment. Eric Raydon and Par Tolles from Marmot Properties and Tolles Development Co. have invigorated this urban expansion by investing $18 million into Midtown, with their recent purchase of seven multi-tenant commercial properties. Updates to many older buildings have breathed new life into the area, while preserving the historic architecture and creating more space for tenants.
With entrepreneurial mindsets and an influx of companies fueling the expansion of Reno Tahoe, the old adage, “Build it, and they will come” has never been more relevant. Not only is the establishment of new businesses great for locals, but it also opens up new opportunities for meetings, conventions, and business travelers to take advantage of what Reno Tahoe has to offer. The region’s elevated quality of life, proximity to the great outdoors, and commercial opportunities make Reno Tahoe a must-visit for casual visitors and business-minded individuals alike.
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