The condo craze will spill over into Sparks this year when the 207-room Silver Club Hotel is converted into 84 condominium units.
The sale to developer Rock Ridge Investment Group in Los Angeles is under contract to close, says Chris Coley, chief administrative officer at the Silver Club.
Architectural Design is by Reno-based Cathexes LLC.
Rock Ridge will hire an area contractor, who has not yet been named. Construction will start this summer, with a target completion date of mid-2007.
"The exterior will be completely upgraded to be compatible with the Victorian theme of Victorian Square," says Clyde Wood, principal at Rock Ridge.
Elton?Colbert, project manager at Cathexes, says the redesign will carry upwards the brick and wood elements found at street level.
The conversion calls for the addition of a seventh floor to allow for 13 penthouse units, ranging from 1,570 to 1,800 square feet on two levels. The remaining one- and two-bedroom units will range from 630 to 1,000 square feet.
A rooftop deck for residents will include a fireplace, barbeque, spa, fitness room and lounge furniture.
This project is a first in the area for Rock Ridge.
"We identified Sparks and Reno as an area with urban downtowns," says Wood. "We specialize in urban infill projects."
The company says it's looking at a number of opportunities in the Truckee Meadows.
Comments
Use the comment form below to begin a discussion about this content.
Sign in to comment