Las Vegas developer proposes 20-story downtown luxury hotel in Reno

A Las Vegas-based developer is proposing a 20-story luxury hotel in the heart of downtown more than a decade after a previous project on the same location was scrapped.

CAI Investments submitted an application to the city detailing its plans for a high-end hotel on 219 Court Street just south of the Truckee River off South Arlington Avenue. The application was first reported by Downtown Makeover.

CAI Investments CEO Christopher Beavor talked about the Reno project in a video posted by the company on its site.

“We’ve been really working around the clock for a special piece of property and a special piece of history here,” Beavor said. “This is going to be the first ground-up, non-gaming, non-smoking upper upscale hotel ever built in Northern Nevada, one of the fastest-growing communities in the United States.”

Plans were first submitted for a downtown project on the same site by Consolidated Pacific Development during the peak of the real estate bubble in 2006. At the time, the proposed project comprised of two towers with primarily glass facades on all sides, according to the initial application submitted to the city. The east tower was initially projected to be the tallest building in downtown Reno at more than 492 feet. The west tower was expected to be the third-tallest building in the Biggest Little City, just eclipsing the Silver Legacy.

The proposed CAI project dials down on the scale but is doubling down on the luxury aspect of the project. It joins several ambitious proposals being made for the downtown area. Bay Area-based SVE Development Partners is proposing a massive project with multiple towers as well called T3 North. That project includes a 17-story, 459,300-square-foot high-rise residential tower in addition to a 362,000-square-foot office tower.

Like T3 North, the CAI project is banking on demand for Class A office space in downtown Reno as the area sees growth.

“(Northern Nevada is) one of the healthiest economies in the world and there hasn’t been any true Class A office space built in over 35 years,” Beavor said. “I can tell you as a Nevadan and as a real estate developer that this piece of property ... is probably one of the best pieces of property for a hospitality project in the United States.”

The Reno Gazette Journal has reached out to CAI Investments for comment.

Correction: The story previously indicated that the building would be more than 400 feet. That information was based on previous plans submitted to the city by previous applicant Consolidated Pacific Development that are no longer being used for the new project. 

Jason Hidalgo covers business and technology for the Reno Gazette Journal, and also reviews video games as part of his Technobubble features. Follow him on Twitter @jasonhidalgo. Like this content? Support local journalism with an RGJ digital subscription.