Sparks Marina groundbreaking starts transformation of eyesore into luxury
Sparks city officials and representatives of LandCap Investment Partners and Guardian Investment Capital gathered late Thursday afternoon, March 23, to celebrate the start of construction on the Waterfront at the Marina Apartments and the end of an eyesore.
The five-story luxury apartment complex overlooking Sparks Marina will wrap around a derelict parking structure built in 2006 and never used. LandCap purchased it in 2013 with the intent of building apartments around it, something seen in other cities but not this region.
“We know this type of construction,” LandCap CEO Managing Partner Steve Hinckley said following the groundbreaking ceremony.
“We are absolutely thrilled to see what has been an eyesore at the marina, begin to transform into a luxury community at the Sparks Marina,” Sparks Mayor Geno Martini said in a written statement. He was unable to attend the groundbreaking due to recent surgery. “The project is truly symbolic of the growth we are beginning to see in our community. I appreciate LandCap and its partners for taking on some of the tougher projects in the city that have been left closed and vacant from the Great Recession.”
LandCap also transformed the old Silver Club Hotel in Victorian Square into the SquareOne Apartments and is working on plans for the old Bourbon Square casino.
For now, the focus is on the Waterfront at the Marina Apartments, where the Sparks Marina is the backdrop.
The 209 apartments are planned as one and two bedroom units featuring high end decor and other amenities, fronting the 65-acre Sparks Marina and within walking distance to the Legends Mall.
For more information, go to: waterfrontmarinaliving.com.
Heather Ashbridge, who started with Nevada State Development Corporation in 2008, previously served in several roles with the organization, including assistant vice president and loan officer. She is based in NSDC’s Reno office.