Following a US$3 million deal in Carson City, Nevada, reconstruction is set to begin The Altair residential project. The former V&T Railroad shops are located on two parcels totaling 4.93 acres that are located between North Stewart Street, North Plaza Street, East William Street, and East Washington.
For $3 million, the property was purchased by KB Acquisitions of Las Vegas. On September 23, the sale was completed on behalf of the buyer by brokers Keith Howell and Rob Joiner. Bruce Robertson of NAI Alliance represented the seller, Virginia, and Truckee Round House Public Relations.
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The site was bought by KB Acquisitions with the intention of developing luxury rental homes with a full range of facilities in keeping with its proximity to the Nevada State Capitol’s significant employment base. They want to start building the upmarket complex in the spring of 2023. Furthermore, completion is set for the end of 2024 with 207 units.
The project, according to Sharon Swanson will “help the economic development of our region.” The owner/broker of Nevada Premier Properties and Nevada Premier Commercial added that it will provide “much-needed housing in the center of our city.”
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According to Rob Joiner, the 19th-century structure was abandoned before being destroyed in 1991. Further, some of the stonework was rescued and taken to a Napa Valley vineyard. The proposal was approved by the Carson City Historic Resources Commission in 2021. Additionally, the conditions given were that developers adhere to norms for archaeological monitoring, due diligence, and curation.
The V&T Railroad or the Nevada State Railroad Museum may receive any finds made there, according to the commissioners. A special use permit for the apartment complex, known as “The Altair” in design documents, was approved by the planning commission in January. The permission permitted “alternative compliance” with the requirements for downtown mixed-use, which in this instance included a “completely residential use.”
