Reno Mayor Hillary Schieve announced last week a “1,000 Homes in 120 Days” initiative. The program aims to stabilize rents and incentivize building more residential units in Reno.
“This initiative will be beneficial to getting more housing product into the market,” Schieve said. “At the Mayor’s housing town hall, I teased a bold new initiative for housing. I’m excited that we kept that promise, and that we’re introducing this …
The program hinges upon deferring permit fees for developers. Rather than paying up front, the developers can pay upon project completion. The goal: build 1,000 residences comprising townhomes, apartments and condos.
The units won’t be built in 120 days, however. Development proposals must be received by the city in 120 days. Projects must be completed in 18 months. The Reno City Council will vote on the initiative October 2, 2019.
Watch a video below of the mayor’s announcement.
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