offering memorandum - loopnet€¦ · these 6,900 new primary jobs are more than the total...
Post on 19-Jul-2020
0 Views
Preview:
TRANSCRIPT
OFFERING MEMORANDUM
The Ridges at Hunter CreekReno, Nevada
DAVID GEDDESDIRECT 775.850.3100
CELL 775.232.4493dgeddes@dicksoncg.com
REBECCA DICKSONBROKER/OWNER
CELL 775.742.2120rdickson@dicksonrealty.com
PRESENTED BY:
| 2
The Ridges at Hunter CreekDevelopment Information
4 Offering Information5 Project Team6 About the Development7 City Map8 Slope Map9 Parcel Map - Phases 1 & 1A
10 Parcel Map - Phases 2 & 3
11 Approved Tentative Map - Phases 1A, 2 & 3
Reno/Sparks Overview
13 Northern Nevada Growth14 Significant Business Development15 Employment Statistics
TABLE OF CONTENTS
TABLE OF CONTENTS
The Ridges at Hunter CreekReno, Nevada
DEVELOPMENT INFORMATION
DEVELOPMENT INFORMATION
DEVELOPMENT INFORMATION
Offering Information
The Offering Price of $10,500,000 includes the following:
• A gated PUD with 69 home sites, of which 16 are finished retail home sites ranging in size from 0.8 acres to 4.0 acres.• A tentative map for an additional 154 acres and 53 home sites (Phases 1A, 2, 3).• An installed 900,000 gallon water tank, dedicated to Washoe County serves the entire project.• Underground utilities for a portion of Phases 2 and 3.• Drainage for Phases 2 and 3 in place and approved by Washoe County.• Graded gravel roads for a majority of Phases 2 and 3.
| 4
Project Team
OWNER: THE RIDGES AT HUNTER CREEK, LLC STRUCTURAL ENGINEER: WOOD RODGERS, INCPROJECT LEAD: Steve Strickland - PE
Melissa Lindell - AICPADDRESS: 5440 Reno Corporate Drive Reno, NV 89511 CONSULTING ARCHITECT: DALE COX ARCHITECTS, AIA
Dale Coxdcox@dalecoxarchitects.com
BROKERAGE: David GeddesDickson Commercial Groupdgeddes@dicksoncg.com775.232.4493
Rebecca DicksonDickson Realty - Broker/Ownerrdickson@dicksonrealty.com775.742.2120
| 5
DEVELOPMENT INFORMATION
DEVELOPMENT INFORMATION
*AS OF 8/09/2016
| 6
About the Development
The Ridges at Hunter Creek is a gated master planned community in southwest Reno, Nevada. The project, located west of Caughlin Ranch, south of Juniper Ridge and bordered by Hunter Creek and the Toiyabe National Forest, is an exciting development with a total of 69 estate home sites. These spectacular home sites offer sweeping views of Reno and the surrounding Sierras. The development breaks out as follows:
Phase 1 consists of 16 home sites ranging in size from 0.8 - 4.0 acres. These sites are fully improved and ready to sell.
Phase 1-A consists of 8.2 acres with 10 lots for a cluster development or individual home sites. These are represented on an approved tentative map.
Phases 2 and 3 consist of three parcels of 48.95 acres, 42.58 acres and 55.27 acres for a total of 146.81 acres. Phase 2 and 3 represent 43 home sites on an approved tentative map.
DEVELOPMENT INFORMATION
DEVELOPMENT INFORMATION
ECONOMIC DEVELOPMENT & RECREATION MAP
MAPS
RENO-TAHOEInternational Airport
PROPERTY SITE
PEAVINE MOUNTAIN
HUNTER CREEKTrailhead
CAUGHLIN RANCH
HIDDEN VALLEY
UNIVERSITY OF NEVADA RENO
DOWNTOWN RENO
LAKE RIDGE
MT ROSE LAKE TAHOE
TRUCKEE RIVER
| 7
Service Layer Credits: Source: Esri,DigitalGlobe, GeoEye, EarthstarGeographics, CNES/Airbus DS, USDA,USGS, AEX, Getmapping, Aerogrid,IGN, IGP, swisstopo, and the GIS User
[Slope MapFigure 5The Ridges at Hunter Creek Phase IISeptember, 2015
0 400200
Feet
J:\Jobs\3308_Hunter_Creek\Hunter_Creek_OA\GIS\Tasks\slope_submittal_20150914_V1.mxd 9/14/2015
HU
NTERS
PEAK
RD
HAWKENROAD
DRIVEWAY
HAWKEN RD
SHARPS RD
FRAN
COVI
CH
CT
WOODCHUCK CIRKESHMIRI
PL
SHARPS CIR
BEAR
MOUNTAIN PL
FS 029
5000
5400
5000
5300
5900
5800
5700
5600
5500
5400
5700
5200
5000
5900
5600
5500
5400
5300
5100
5000
520051
00
50005000
5300
4900
5000
5700
5000
Slope (%)0-15
15.1-20
20.1-25
25.1-30
30+
Slope (%) Area (ac.) % of Total0-15 21.1 13.6
15.1-20 26.7 17.220.1-25 26.1 16.825.1-30 24.5 15.8
30+ 56.5 36.5TOTAL 154.9 99.9
SLOPE MAP
MAPS | 8
PARCEL MAP - PHASE 1 & 1A
MAPS | 9
PARCEL MAP - PHASES 2 & 3
MAPS | 10
APPROVED TENTATIVE MAP - PHASES 1A, 2 & 3
MAPS
Approved July 2016
| 11
The Ridges at Hunter CreekReno, Nevada
RENO | SPARKS OVERVIEW
NORTHERN NEVADA GROWTH
RENO/SPARKS OVERVIEW | 13
RENO AS A DISTRIBUTION HUBReno has become a focal point of commerce in eastern California and western Nevada. Manufacturing is a significant part of Nevada’s diverse economy, contributing to $5.5 billion to Nevada’s gross state product in 2012. Today, the Reno-Sparks area serves as a major western distribution center and Nevada’s largest manufacturing production, technology manufacturing, and government services.
BENEFITS TO LOCAL BUSINESSESThe State of Nevada is considered one of the most business friendly states in the nation. It was ranked number 3 in the nation as the Most Business Friendly Tax Climate by the Tax Foundation in 2014. Nevada has no corporate of personal income tax, and is a right-to-work state, which has contributed to the state’s tremendous growth in the 1990s into the 2000s.
EMPLOYMENT BY INDUSTRY
LABOR FORCEThe Greater Reno-Sparks-Tahoe area has an existinglabor force of 230,000. Being home to the University ofNevada, Reno and close to metros like Sacramento andSan Francisco, top, young professionals have beentaking the Reno labor market by storm.
Sources: www..bls.gov - Bureau of Labor Statistics
UNEMPLOYMENT DOWNWARD TRENDIn 2016, the Reno-Sparks unemployment was reported tobe 4.2%. Since peaking in 2010/2011 at 14.0%, unemployment has dropped by 9.1% over the past two years (which is the lowest it’s been in over 10 years). Strengthening economic conditions, along with projected job growth with firms such as Tesla Motors, Switch, and Apple, the unemployment rate is forecasted to continue its massive downward trend.
NORTHERN NEVADA GROWTH
RENO/SPARKS OVERVIEW | 14
Sources: www..bls.gov - Bureau of Labor Statistics
EMPLOYMENT GROWTHThe graph on the right depicts the forecast from the EPIC Committee from December 2014 that estimated employment growth (the blue line). Since then, actual employment numbers have been tracking the estimate very closely. This suggests that the further increases that were forecasted for the next few years are highly likely.
EDUCATIONThe award-winning Washoe County School District is the 57th largest district in the United States and second largest in the State of Nevada, serving 93 schools with approximately 62,400 students. The WCSD has continued to incorporate elements to enhance its academic programs and overall academic performance for its students.
The University of Nevada, Reno serves over 20,000 students and offers more than 140-degree programs, representing half of all research awarded to the Nevada System of Higher Education institutions. Furthermore, UNR’s part-time MBA program ranks in the top 25 of MBA programs in the United States according to BusinessWeek magazine.
According to EDAWN January 2017, “Now 2 years into the 5 year EPIC report projections of over 52,000 new jobs, we are still on track even before Tesla, Panasonic and Switch ramp up their hiring efforts.”
EMPLOYMENT STATISTICS
79
84
2000
Job
Grow
th
4.3% Projected Growth
Employment Data Reno/Sparks MSA
Tesla Job GrowthEdawn Primary Jobs
2.2% RapidGrowth
160,000
180,000
200,000
220,000
240,000
260,000
19951996
19971998
19992001
20022003
20042005
20072009
20112013 2015
2017 20192006
20082010
20122014
20162018
2020
SOURCE: (EDAWN) ECONOMIC DEVELOPMENT AUTHORITY OF WESTERN NEVADA, FEBRUARY 9, 2017.
3.2% Job Growth in Nov. 2016
3.6% Job Growth in Nov. 2015
2.8% Job Growth in Nov. 2014
2.2% Job Growth in Nov. 2013
2.3% Job Growth in Nov. 2012
1.3% Job Growth in Nov. 2011
Significant Reduction Since 201114.2% to 4.2% Unemployment From 30,731 to 9,915
Full Employment 4%
Empl
oyme
nt %
3
5
7
9
11
13
15
2011 2012 2013 2014 2015 2016
| 15
NEVADA & RENO POISED FOR TREMENDOUS GROWTH
EDAWN.ORGConsider these highlights from the Economic Development Authority of Western Nevada (www.edawn.org):
ACCORDING TO THE MAY 2016 EXECUTIVE UPDATE, RENO- SPARKS JUMPED 93 SPOTS TO RANK 4TH IN THE NATION FOR MID-SIZE ECONOMIC HOT SPOTS.
NEVADA IS CURRENTLY THE 3RD FASTEST JOB GROWTH STATE.
QUALITY OF LIFE AND OPERATING ADVANTAGE
Strategic location central to 11 western statesDiverse labor market with affordable livingEmerging new downtown RenoBurgeoning arts and culture lifestyle
SILICON VALLEY WITHOUT THE EXPENSE.
Within close proximity to the Silicon Valley in California, and with the innovative workforce being fostered by the University of Nevada, the Reno area is poised for continued growth and prosperity.
Check out “The New Nevada” video by EDAWN showcasing many of the companies and attractions of the area: https://vimeo.com/149438552
TAX ADVANTAGE- NEVADANO corporate income taxNO personal income taxNO franchise taxNO unitary taxNO inventory taxNO inheritance taxNO estate tax
INCENTIVES TO RELOCATE Sales & Use Tax AbatementModified Business Tax AbatementPersonal Property Tax AbatementReal Property Tax Abatement for RecyclingIntellectual Property Development and Train Employees now (TEN)Nevada Catalyst Fund, incentivizing the expansion or relocation of businesses that will result in high-quality jobs
| 16
ICONIC COMPANIES IN RENO-SPARKS
APPLE CHOSE NORTHERN NEVADA AS THE SITE OF A NEW DATA CENTER AND BUSINESS PURCHASING FACILITY.
The one that kick started it all, Apple’s initial 100 million dollar data center is fully utilized and they have continued to expand, with additional construction as a result of demand within cloud storage.
“In the past two years EDAWN has assisted more than 60 companies which combined announced their intent to add more than 6,900 new jobs to the region, not counting Tesla. These 6,900 new primary jobs are more than the total announced jobs for Tesla over a 5 year period. While the multiplier for advanced manufacturing, logistics, back office and e-commerce are not as high as Tesla, these jobs will add another 8,700 induced jobs to the region…a total of 15,600 new jobs in the past two years”. EDAWN.org
SWITCH’S SUPERNAP TO BE THE LARGEST DATA CENTER IN THE WORLD. Once all construction is complete, Switch’s SUPERNAP Tahoe Reno Industrial Campus is planned to be 6.5 million square feet. The campus is within the Tahoe Reno Industrial Center, which is the largest industrial park in the world, comprised of 107,000 acres, 117 companies and growing.
Switch has connected Reno, Las Vegas, San Francisco, and Los Angeles via a SUPERLOOP which allows data to be transported between hubs in just milliseconds. The first phase, 1,000,000 square feet, is currently under construction.
EXPANSION OF EBAY’S DATACENTER.
Within Switch’s SUPERNAP campus, eBay has leased half of the initial Tahoe Reno 1 building. “Gov. Brian Sandoval, referring to the combination of eBay and the Switch data facility at TRIC, ‘You will have the largest data center of the planet and less than a mile away, you will have the largest advanced manufacturing facility on the planet’.”
TESLA MOTORS GIGAFACTORY LOCATES TONORTHERN NEVADA.The Palo Alto based company, Tesla, is currently building a $5
billion, 10 million-square-foot Gigafactory in the greater Reno/Spark area, for the production of lithium ion batteries for its electric cars and other battery related products. The Gigafatory is in cooperation with Panasonic and other strategic partners. With this development in the pipeline, the company anticipates hiring approximately 6,500 new workers in Northern Nevada.
| 17
top related