Developer reaches agreement with UNR to buy nearly 2 acres of school property
RENO — A Reno developer has reached an agreement with the University of Nevada, Reno to purchase nearly 2 acres of school property as part of a $1.2 billion redevelopment project in the city’s downtown.
The Reno Gazette-Journal reports the university has agreed to sell the Nelson Building to the Don J Clark Group for $7 million. The property includes two buildings and a parking lot, and it houses some of UNR’s medical school programs and the Osher Lifelong Learning Institute.
The $7 million price tag is almost double the property’s May appraisal price.
The purchase will help the Don J Clark Group move forward with plans to build high rise condo towers, hotels, and retail space.
The deal still has to be approved by the Nevada System of Higher Education.
