Reno City Council approves Park Lane site Infrastructure Improvement Agreement
There was a presentation and discussion regarding the Park Lane site. In a 5-to-1 vote, Council approved staff’s recommendation of an Infrastructure Improvement Agreement and offset pursuant to Attachment 2.b. The motion included a stipulation that the developer follow a five-year timeline to complete installation of the storm drain and sewer infrastructure. A five-year extension could potentially be granted by Council through a public hearing. The developer, Reno Land Inc., said they expect the project to break ground in April 2017. The 46-acre infill development is the largest infill site in the City of Reno.
Reno Land Inc. recently purchased the former Park Lane Mall site located on the southeast corner of Plumb Lane and South Virginia Street. The developer asked the City to offset $3.5 million of the $11 million cost associated with relocation of major community utilities and internal street network. Specifically, the developer asked the City to assist in the relocation of storm drain and sewer infrastructure on and adjacent to the Park Lane site.
On October 12, 2016, Reno Land Inc. presented its preliminary plan for the site to City Council showing how the property would follow Transit Oriented Development (TOD) best practices and meet the recommendations of the Urban Land Institute (ULI) report.