Sale of UNR’s 104-acre McCarran parcel OK’d; $18 million offer on table
UNR has $18 million offer from local development company Reno Land Inc.
Special to the NNBV
RENO, Nev. – The Board of Regents of the Nevada System of Higher Education at its Nov. 16 meeting in Las Vegas approved the sale of a 104-acre parcel at the University of Nevada, Reno’s Main Station Field Laboratory for $18 million, the appraised value of the property.
The University had previously attempted to find a buyer through a Request for Proposal process, which didn’t attract buyers who were able to ultimately meet the conditions of the RFP. The minimum bid for the RFP was $20 million.
A new appraisal, including new information about flood mitigation and infrastructure requirements, adjusted the price to $18 million. The sale was then conducted through a broker on the open market.
Reno Land Inc. has offered $18 million for the property, and the University and Reno Land, Inc are now under contract.
The proceeds of the sale will be used for several projects:
- to renovate the Nevada Agriculture Experiment Station Valley Road laboratories
- develop research capabilities at the J Dow NAES wetlands
- build ADA compliant classrooms at Main Station Field Lab
- construction of the Eureka Agriculture Center for Range and Sheep Improvement
- development of the International Center of Dryland Agriculture
- an endowed professorship for indoor/urban agriculture
- support the plan to develop a research/Cooperative Extension facility in Clark County, and
- renovations of critical laboratory facilities on the University’s main campus for the benefit of all students, research faculty and staff.
The Main Station Field Laboratory will be approximately 762 acres following the sale of this parcel and a 40-acre parcel off of Pembroke Drive that is up for sale.
The Main Station Field Lab is a major research, educational, and outreach facility operated by the Nevada Agricultural Experiment Station within the College of Agriculture, Biotechnology and Natural Resources at the University.
It has been home to herds of cattle and sheep and actively irrigated to grow alfalfa, hay and other crops since 1956. The field lab, also known as the Main Station Farm, is home to Wolf Pack Meats, one of the most technologically advanced meat processing plants in the region, which is used to teach meat sciences, for research and is open commercially to the public.
The 104-acre parcel, known as the McCarran Planned Unit Development, is at the west side of the Main Station Field Lab along McCarran Boulevard roughly between Mill Street and Pembroke Drive.
At the meeting, the Regents also rescinded the 1981 Board Resolution 81-8 with respect to the sale proceeds, so the parcel sale proceeds can be used to fund the current proposed projects. The 1981 resolution would have restricted use of any sale proceeds to mostly CABNR initiatives.
Mike Wolterbeek is Communications Officer at the University of Nevada, Reno. Visit http://www.unr.edu to learn more.
Reno’s median home price jumped to $413,405 in November, a 4 percent increase from the same month a year ago. Meanwhile, across greater Reno-Sparks, November’s median price of $400,000 remained unchanged from October.