Prater – Sparks, Nevada

Project Details

The Prater land assemblage totals approximately 20 acres and is an assemblage of 4 sites. LCIP owns one of the 4 sites which is 3.90 acres. The envisioned 20 acre project is next door and contiguous to the Northern Nevada Medical Center, the largest hospital/medical center in the region. Prater is located just one mile north of the I-80 freeway, close to the terminus of East Prater and Vista Blvd. The project is just 7 minutes from downtown Reno and 10 minutes drive time to the Reno/Tahoe International Airport and the Tahoe/Reno Industrial Complex (TRIC). TRIC is home to Tesla, Switch, Wal-Mart, Apple, Amazon and many other major companies.

 

LCIP is processing a 160 unit Senior apartment project.

 

Business Plan

 

The Project Business Plan includes multiple uses and is intended to be a mixed-use residential development, which includes multi-family, single family and senior housing uses.

 

LCIP’s vision is a mixed-use residential development. Combining housing components including multifamily, senior and high density attached For Sale residential uses.

 

Presently, the assembled sites are zoned for primarily commercial use. Discussions with the City of Sparks indicate a high degree of interest in a zone change which would align with LCIP’s vision of a mixed residential and senior use. Additionally, LCIP is researching other complimentary land uses including discussions with the neighboring hospital, Northern Nevada Medical Center and a variety of senior housing developers and consultants.

Skills

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