Dandini Blvd
Reno, NV 89512
Dandini Mixed Use · Land For Sale · 95.98 AC

The Dandini Boulevard apartment site is adjacent to the Desert Research Institute and the University of Nevada' s Truckee Meadows Community College campus. The site is comprised of four total parcels, two parcels totaling ±58.95 acres to the north of Dandini Blvd., and two parcels totaling ±37.02 acres to the south of Dandini Blvd. The northern and southern parcels can be purchased together or separately. The property is currently unimproved. The conceptual site plan for the parcels south of Dandini Blvd. show a possible yield of 296 multifamily units, and the northern site has a possible yield of 384 units, with an even mix of one and two bedroom units. The apartment market in Reno is very strong. Overall vacancy rates are near 2 percent and rents showing strong growth in all submarkets as gains in employment and income fuel expansion in the Reno/Sparks area. Access to the property is off Dandini Boulevard which connects into U.S. 395 to the west and Clear Acre Lane to the east. Zoning for the site is Mixed Use Dandini Regional Center which emphasizes a minimum of 14 units to the acre. According to the Tax Foundation, Nevada ranks third in the United States for best tax climate. This business-friendly tax environment has opened up many possibilities for out-of-state companies to locate facilities here including Tesla, Panasonic, Switch, and Apple. As noted by local economic development officials from a recent study called the EPIC report, the region is forecast to create approximately 50,000 jobs and population growth of over 60,000 new residents between 2015 and 2019. Current employment is approximately 230,000 people with a population of approximately 450,000 in the metro area. According to the study, the area of Washoe County is seeing steady and improving demographic and employment growth. The economy is becoming increasingly diversified due to a proactive regional business recruitment and retention strategy.