Case Study: The Highlands
Master Plan Community including for sale housing, multifamily and retail components.
Reno, Nevada
ABOUT THE PROPERTY
A thoughtful master plan community that delivers both the critical 'missing middle' housing segment and needed shopping in the rapidly growing Reno, Nevada market.
Plans for the Highland Master Plan include 219 single-family lots within three neighborhoods, a288-unit multi-family project and land for additional restaurants and commercial development.The project was recently unanimously approved by the Reno City Council.
The site, located between Sky Vista Parkway and Lemmon Dr., is surrounded by various residential and commercial properties, including a Walmart Supercenter, Walgreen's, Bank of America, CVS,Grocery Outlet and other food and retail options.
OUR PROCESS
A flexible and well-planned approach
- Capstone Advisors acquired 100 acres of land in Northern Reno. At the time of acquisition the existing land plan was impractical and the area did not have availability of critical water and sewer infrastructure.
- Capstone activated the first segment of the community by developing a retail center to serve the existing community, while envisioning the total redesign of the remaining land. This included acquiring additional contiguous land to unlock circulation needed for the additional development, as well as solving infrastructure limitations.
- Capstone worked with industry-leading professionals in the Reno market to identify the proper product mix of housing and commercial, and then re-entitled the entire project to meet the current needs of the community.
The Results
- Village #1 is divided into 24 lots,
- Village #2 is divided into 84 lots,
- Village #3 is divided into 288 multi-family units,
- Village #4 is divided into 105 lots.
- There are also 2 commercial lots parceled out on the project.
