The old Park Lane Mall site is now in escrow.
Reno Land Development Company is purchasing that property for an undisclosed price.
The vacant land is on the corner of Plumb Lane and Virginia Street and developers say the location is ideal because it is right in the heart of town.
Land planners and architects are being interviewed but early plans are for a mixed-use development.
"Housing, both for sale, for rent, high density housing, maybe have some senior component, maybe have some workforce housing. We'll also have professional offices, maybe medical, maybe a tech campus,” says Chip Bowlby, Reno Land Development Company.
Reno Land Development Company also owns Rancharrah that will also be used for mixed-use development.
