Downtown may be getting a new sports facility. The Reno City Council last week voted for a project by P3 Partners to convert the former bus depot, at 40 East Fourth Street, into a sports center and hotel.
“The Nsports Hotel and Performance Center concept is a program that P3 Partners has developed with the assistance of Sports Facilities Advisory and Sports Facilities Management,” said P3’s Steve Nielsen. “The primary component … is the development of a large volume space that is designed for and can accommodate a wide range of activities.”
A non-gambling hotel is also proposed. P3’s partners said that less than 100 rooms will be available. The center will be non-smoking and family focused.
Preliminary designs show locker rooms, basketball courts, a family entertainment center, and a fitness room. The group has more than 25 multi-use gyms in its name just in Nevada.
City officials said that they wanted project proposals to support downtown revitalization.
P3 was up against other proposals, one of which was a park and parking lot proposed by the Eldorado. But Eldorado wanted rights to convert the property to a different use later. (Eldorado’s spokesperson did not respond to a request for more information.)
“Depending on market conditions and related contingencies, Eldorado anticipates the potential for future development of a mixed-use building to further enhance integrated pedestrian connected urban development on this site…” said Eldorado attorney Michael Pagni.
A purchase price for the property has not been determined. Agreements need to be negotiated before the city can sell the property.
Next steps: “[A] 120-day period is for P3 Partners to have the exclusive right to continue with their strategic plan and implementation strategy,” said City of Reno Spokesperson Jon Humbert. “During this period they will engage with the various stakeholders, finalize facility, and market analyses….
“This time period also allows staff to further evaluate P3 Partners to ensure they are the right partner for the city and begin the disposition process, including obtaining an appraisal of the property,” he added.
The city said that money generated from the property’s sale will go toward the Reno Sewer Fund, bond funds, and to the Reno Development Agency.