The University of Nevada, Reno announced today that it has entered into a pre-development agreement with Edgemoor Infrastructure & Real Estate (Edgemoor) to develop the Mathewson University Gateway project through a public-private partnership (P3).
Located at the south end of campus and connecting to the Reno downtown, the prominent site will give the University greater visibility and a heightened presence for visitors and University members alike as they enter the campus, creating a new "front door" to the University. The proposed project, which includes the new College of Business and a hospitality/conference venue, will create a physical link between the University and Downtown Reno, catalyzing growth in the Campus Gateway and strengthening the relationship between the University and the City of Reno.
The new, state-of-the-art College of Business will enable the school to increase partnerships and continue to attract the best and brightest students and faculty, creating a new generation of workforce and talent to grow the local economy in the City of Reno and throughout the region.
“This is an exciting and critically important project for not just our University but also the City of Reno,” University President Brian Sandoval said. “The goal of this project is to catalyze the area with University-induced uses to create a vibrant, safe and secure mixed-use area highlighting the relationship between the University and the City. Leadership for both the City and our University have both seen the clear benefits of a more diversified, knowledge- and innovation-based economy. The success of both the University and the City are both intrinsically intertwined. Since we enjoy such strong alignment in terms of our vision and our goals, when one succeeds, the other succeeds as well.”
The University employed a robust procurement process that attracted several prominent national developers and is currently in negotiations with the selected developer, Edgemoor. An award-winning leader in developing academic facilities and complimentary use development, Edgemoor has used the P3 model to successfully deliver, finance and operate multiple higher education projects across the country.
“The P3 model provides a solid and proven path forward to deliver the much-needed College of Business space with complimentary conference and hospitality uses, ensuring long-term value and year-round use of this 2.2-acre parcel,” said Vic Redding, vice president of Administration and Finance.
The Edgemoor team for the College of Business includes LMN Architects, an architecture firm leader in the design of higher education facilities in North America as designer, and Clark Construction Group, LLC, a national contractor with experience successfully delivering over 100 higher education projects on campuses across the country as design-builder. Woodmont Lodging, a seasoned university-market hotel owner, will lead the development of the hospitality and conference center.
The proposed project will create jobs for residents of Reno and the surrounding region, and Edgemoor is actively looking to add local, small and diverse businesses and partners to the project team.
“Over the past few months, our team has been incredibly encouraged by the collaborative partnership we have developed with the University,” Edgemoor Senior Managing Director Geoffrey Stricker said. “We recognize that this project represents an exceptional opportunity for UNR and the City of Reno, and we’re working together to develop creative solutions to finance and deliver this project to meet the needs of the University and the community.”
The University anticipates bringing a final project proposal to the NSHE Board of Regents for approval in the Spring of 2023. The University and the project team will continue to update the community as the project moves forward and will engage all stakeholders on a regular basis.