2302 Oddie Blvd - 108-Unit Multifamily Development Opportunity

CBRE Inc. is pleased to offer for sale a 108-unit multifamily-entitled development site located in a HUD Qualified Census Tract zone, allowing the opportunity to develop affordable housing in an underserved area. The property includes entitled land which calls for the development of three, three-story, 36-unit buildings, with 108 surface parking spaces. Apartments are allowed outright by current zoning, making this an excellent opportunity for a buyer to design the property in Phase Three with a submittal to the City. The Seller has already completed Phases one and two of the entitlement process with reports such as Geotech, Environmental, Survey, etc. available to the buyer. As such, the buyer/developer can choose its own building design with unit sizes, etc., providing flexibility in the development process. Numerous federal and state tax credits available for a qualified developer.
The site is directly north of the 81,247 square-foot Evergreen Plaza Shopping Center and directly west of the newly-built 288-unit Parq Crossing luxury apartments. The site is also located within the same center as the 62,000 sq. ft. Generator Maker Space, which is part of the Oddie District, an urban infill redevelopment project.
Other existing or recently announced tenants in the Oddie District include Cartwheel Robotics, CoffeeBar, Fifty Fifty Brewing Company, Mythic Gymnastics, Nevada Works, and The Innovation Collective.
The submarket also recently benefitted from a $55 million Reno Transportation Commission road improvement project, which updated over 2 miles of roadway, adding bike lanes and pedestrian safety features.

The retail portion of the center may also be acquired separately. Please contact broker for more info.