Reno City Center, an affiliate of Las Vegas–based CAI Investments, has received $100 million for its renovation and redevelopment of Harrah’s Reno Hotel and Casino to a mixed-use project named Reno City Center. Located at 219 N. Center Street in downtown Reno, Nev., the project is planned to include 528 apartment units and more than 250,000 square feet of office and retail space.
Completion is anticipated for summer 2022. Equity was provided by Gryphon Private Wealth Management’s opportunity zone fund.
The 6.13-acre, 15-building property comprises approximately 1.4 million square feet of gross building area and includes three hotel towers with 17, 24 and 26 stories; a seven-story parking garage with additional parking area on the top of the structure; casino and sports book, convention and meeting areas; multiple restaurants and coffee shops; retail sales areas; administrative offices; back-of-house support areas; and maintenance and storage areas. O
