Multiple signs still advertise the Reno City Center but the website these point to for ballyhooed urban downtown luxury living no longer exists.
A few weeks ago though, the Reno City Council approved a non-restricted gaming license for Las Vegas-based Fine Entertainment to enable the city’s first PKWY Tavern inside the former Harrah’s hotel-casino with up to 200 slot machines.
A half dozen of these PKWY Taverns exist in the Las Vegas area, offering a combination of sports viewing, gaming, alcohol and food.
Since then, there has been little apparent movement, at least outside, even of downed lampposts still laid out behind an eyesore of a wraparound chain link fence.
The Reno City Center ,which was revealed to much anticipation in early 2020 has been beset by challenges, including losing its main initial office tenant Clear Capital, after it canceled its space leasing deal earlier this year.
That pullout froze construction on grandiose plans for a newly designed courtyard plaza projected to include walking paths, seating, multiple trees, grassy areas, water features and an amphitheater.
Jonathan Fine, the co-founder of Fine Entertainment, has repeatedly given assurances the common areas and park will be worked on as a preamble to the overall project, which now include plans for the slot machines as well as restaurants, a hotel, a leasing office and residential units.
Moorefield Construction has been brought in to do work for Fine Entertainment, which controls a reported 75% of the ground floor through a lease, and which says it has already spent over $9 million on renovations.
The north and south towers of the former Harrah’s are still being envisioned as residential units, according to Idaho-based Gryphon Private Wealth Management, which is tackling that part of Reno City Center as the owner behind this big overall plan.
Gryphon partnered with Las Vegas-based CAI Investments in 2020 to purchase the Harrah’s via an opportunity zone fund, which provides significant tax incentives for developments in economically challenged areas.
CAI, which was behind much of the early marketing and buzz for the project, getting constant media attention, then pulled out of the project, announcing in June it was selling its ownership stake to Gryphon.
Gryphon is reported to have a lease with another group to operate the east tower as a hotel, and CAI said that would conflict with its other stalled plans to establish a Reno Kimpton hotel nearby.
A representative for Gryphon has given assurances that progress is happening inside the future Reno City Center, including some more time consuming than anticipated, such as asbestos remediation, with little for people to see from the outside looking in as of yet.
As part of comments to this post, Mike Van Houten, who runs the Downtown Makeover website wrote in part: "There are 25+ liens that are outstanding and none of those contractors are currently working on the building. None of the liens have been resolved or cured, which is one of the first things that would happen when construction resumes. None of the old permits have been updated with a new general contractor, including Fine Group’s permits.
The value amounts of the work on the liens vs what is owed to contractors is quite the difference, meaning not a lot of work was even done in the first place.
The most recent liens against this project were filed as recently as last week, against both RCC and PRKWY Tavern..."