From the City of Sparks:
Earlier this month, the Sparks City Council approved Resolution No. 3297 which authorizes the sale by the Redevelopment Agency of the City of Sparks of two parcels totaling approximately 1.36 acres located within Victorian Square to SWD-Quarry Bridges, LLC. The purchase price was $750,000.
“There is more to come to Sparks’ downtown,” said Mayor Geno Martini. “The economic growth in our region is now supporting diversification efforts in Sparks by bringing people to live and work at Victorian Square. Sparks is the closest metro area to the Tahoe Reno Industrial Center where Tesla, SWITCH and other major brands are setting up shop.”
The parcels are located directly south of the City parking garage, adjacent to the Century movie theater. As proposed, The Bridges project will include approximately 192 apartments, approximately 19,600 square feet of commercial space, a portion of which will be used to provide private amenities to project residents, and structured parking for the project’s tenants.
Some of the unique attributes of the project consist of an enclosed pedestrian bridge three stories above the street, which connects to a five story building and the City’s parking structure east of the Century Theatres.
The units consist of modern studio designs and include 1 bedroom/1 bath and 2 bedroom/2 bath units offering attractive views of the surrounding mountains and the northern Nevada environment. The Bridges amenities will include a fitness center, clubhouse, game room, an open air above-ground atrium lounge with large screens TV's, fire pits, waterfalls, art, and in-house management. All units will have dedicated outdoor patios or decks. The project will include over 10,000 square feet of commercial space for office, retail, and dining. Ground breaking is expected in October 2016 with completion in summer 2017.
SWD-Quarry Bridges is a subsidiary of Silverwing Development. “We are excited to break ground on another first rate project in Victorian Square in Sparks,” said J Carter Witt, president of Silverwing Development. “We know that the square is a special place and are very bullish on the future, particularly given the easy access to Interstate 80. The City of Sparks has been a great partner and we look forward to helping this region of our community grow and prosper.”
The Bridges comes on the heels of other major developments at Victorian Square. Silverwing’s Fountainhouse project, a 236-multi-family unit development is close to completion and open for leases. Additionally, LandCap Investment Partners are nearing completion on converting the former Silver Club Hotel Tower into loft apartments and renovating the former Bourbon Square Casino with a ground floor mix of restaurants and retail, with indoor/outdoor patio dining. The upper two floors are anticipated to be Class A office.
From the City of Sparks
