Company plans temporary housing experience on East Fourth Street
San Francisco- and Reno-based Common Ground Development is expanding further into the Reno market as Common Ground Reno and with redevelopment of the Reno 8 Motel.
“Our practice aims to be highly collaborative with community stakeholders and support positive social impact,” said Greg Stuppler, investor and senior advisor for Common Ground Reno. “Ultimately, we hope that our projects become a highlight of the neighborhoods we have worked in.”
Common Ground Reno operates via a community finance model of development which seeks to reimagine use, upgrade and modernize urban real estate that leverages the unrealized potential of distressed properties. Common Ground Reno works with locally owned and operated small businesses and non-profit organizations that typically struggle to find suitable space for their operations.
“As a Reno local, I am passionate about our city’s growth, and I think this redevelopment will help contribute to Reno’s advancement,” said Reno City Council member Devon Reese. “It’s important to recognize a positive impact that new projects can bring, and as Fourth Street has undergone many transformations, we are confident that the ‘Forward on 4th Street’ strategy’ will benefit this community.”
The first project Common Ground Reno is pursuing is the redevelopment of the Reno 8 Motel into SuperGr8 Lodging Unit on East Fourth Street. The SuperGr8 Lodging Unit is one of Nevada’s first opportunity zone projects, making it among the most watched and anticipated developments in town.
“The SuperGr8 project is a female and minority-founded business that stands as a shining example of future opportunities for innovative business and increased foot traffic on Fourth Street,” said Jessica Grace, a collaborator with Common Ground Reno. “It’s a sign of good things to come for all the businesses operating on Fourth Street.”
A Note From The Founders
“Based on creativity, shared prosperity, and collaboration, Common Ground Reno allows us to work for a world in which everyone is encouraged to create, build, and share. We believe everyone should have an opportunity to be an owner, a true stakeholder in our society. We need to provide creative approaches to ownership in order to increase participation in shared equity,” said Jeannie Kelly and Leiasa Beckham, Founders.
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