The University of Nevada, Reno's College of Business recently hosted the Northern Nevada Developers Forum at the Wells Fargo Auditorium in the Mathewson-IGT Knowledge Center. The forum invited three speakers to discuss Northern Nevada real estate and retail development projects in the Reno-Sparks area, as well as the potential challenges faced with each project. Center for Regional Studies Project Manager Brian Bonnenfant, Reno Land Inc. Managing Partner Chip Bowlby and Silverwing Development President J. Carter Witt III all spoke at the forum.
Bonnenfant kicked off the forum by providing an overview of the Reno-Sparks economic trends and breaking down the employment rates and average wages in Northern Nevada, all factors that could affect the real estate industry. As an example, Bonnenfant explained that the growing workforce has led to more demand for housing and retail. Chip Bowlby and J. Carter Witt III followed by presenting their real estate projects that are in the works in Reno-Sparks.
Witt's Silverwing Development will be finishing up their real estate development in Spark's Victorian Square, where they created two new luxury apartment complexes: Fountainhouse and The Bridges. Bowlby's Reno Land Inc. is working on multiple real estate projects, including Park Lane, Rancharrah, Summit Club and Tahoe Reno Industrial Center.
Though these projects have potential for Northern Nevada there are still many challenges faced with each project. During Bowlby's presentation, he sighted some of the different challenges, such as financing, labor force, and construction costs that could derail any future plans and development projects to finish on time.
For more information about this forum, or to connect with the Center for Regional Studies, email Brian Bonnenfant at firstname.lastname@example.org.