A decade after acquiring Reno’s Park Center Tower, Basin Street Properties will open a hotel next door.
The Reno-based commercial property developer broke ground last week on what will become its first Courtyard by Marriott, adjacent to its 15-story office building and across the street from the Aces Ballpark.
“We bought the office building in 2006 and the lot to the east at the same time, thinking we’d put in a non-smoking, non-gaming hotel. And this was before we knew about the ballpark coming in,” said Par Tolles, president, Basin Street Properties.
“We’ve been riding out the recession. Hospitality in Reno was crippled for a few years. Baseball came in and that’s been a huge benefit. It’s located between two medical centers and is a real complement to the entertainment district without competing with the casinos.”
The 76,000-square-foot, four-story hotel is being built by Carson City’s Metcalf Builders and is scheduled to open in the spring of 2016.
“Metcalf has the most local hotel experience, including building Marriotts,” said Tolles.
It will feature 135 rooms, a gym and an indoor/outdoor pool overlooking the Truckee River.
Basin Street Properties owns about two dozen commercial and retail properties in Sacramento and the north Bay Area in California as well as a Sheraton and two Hampton Inns.
In Reno, the 40-year-old company also owns a 129,767 square-foot mixed use property called Mill@McCarran; 50 West Liberty, the 249,349- square-foot, two-office building complex downtown; and 200 South Virginia, the 117,780-square-foot, nine-story office building.
The company has invested $130 million in Reno properties.
The multi-million dollar project is expected to create more than 200 construction jobs and employ about 25 once the hotel opens.