Courtyard Marriott brings first nationally affiliated, non-gaming, non-smoking hotel to Downtown Reno
Reno, NV – Basin Street Properties, a prominent Northern Nevada real estate investor and developer of commercial and mixed-use properties, held a groundbreaking ceremony today for the new Courtyard Marriott hotel in Downtown Reno announced Par Tolles, President of Basin Street Properties. The 76,000 square foot hotel will be located adjacent to Basin Street Properties’ Park Center Tower at 300 E. 2nd Street, directly across the street from the Aces Ballpark. The new hotel will be the first new construction hospitality development in Downtown Reno since the completion of the Silver Legacy 20 years ago.
“Downtown Reno is in the midst of an exciting and very positive evolution,” said Tolles. “Particularly for the east side of Downtown, a non-gaming, major branded hotel is a great next step in Downtown’s revitalization. The more we can bring the leisure and business traveler Downtown to do business and experience the amenities in Reno, the more we can help support the revival.”
Tolles shared that Marriot is very selective about the projects they approve. National predictions estimate a 25.8% increase in lodging accommodations by the end of 2015 in contrast to a mere 5.6% increase in hotel rooms. The Courtyard Downtown Reno, as it will be referred, will bring to the area a four story hotel with 135 rooms to help Reno meet this anticipated growth in demand.
The location of the future hotel was once occupied by two dilapidated motels which were torn down by Basin Street Properties several years ago. “As a company, Basin Street Properties believes every great city has a great downtown and therefore, we are committed to do whatever we can with development to help invigorate this strategy. The Courtyard Marriott will also help continue to bridge Downtown with the University of Nevada. The response we’ve received from businesses, the University and the Aces Ballpark clearly indicates a strong demand for this type of lodging in the Truckee Meadows,” said Tolles.
Over 60% of hotel rooms nationwide within Marriott are booked through their reservation system. Courtyard hotels offer select services such as continental breakfast, grab-n-go sandwiches and cocktail hours in a Bistro setting that caters to business travelers. Guests of the hotel earn points and know what to expect when they stay at a Courtyard Marriott. Amenities will also include a gym and indoor/outdoor pool that overlooks the Truckee River.
Carson City-based Metcalf Builders will serve as the general contractor for the project with a projected grand opening in Spring 2016.
About Basin Street Properties: Basin Street Properties, headquartered in Reno, NV, is one of Northern California’s and Northern Nevada’s prominent developers, investors and managers of commercial properties. Basin Street has become widely recognized for its office, retail and mixed-use developments. Founded 40 years ago, the company offers a broad range of real estate services, including development, property management, construction management, financial and asset management, and property acquisition and disposition. To date, the company has invested over $130M to date in Reno assets. As the largest office landlord in Sonoma County and downtown Reno and with over 450 tenants in our portfolio we are meeting the requests of our tenant base. For more information, contact Par Tolles, President, 775-954-2900, PTolles@basin-street.com or visit www.basin-street.com.