offering memorandum - loopnet€¦ · these 6,900 new primary jobs are more than the total...

OFFERING MEMORANDUM

The Ridges at Hunter CreekReno, Nevada

DAVID GEDDESDIRECT 775.850.3100

CELL [email protected]

REBECCA DICKSONBROKER/OWNER

CELL [email protected]

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


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 [email protected]

BROKERAGE: David GeddesDickson Commercial [email protected]

Rebecca DicksonDickson Realty - Broker/[email protected]

| 5



*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.



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


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






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

offering memorandum - loopnet€¦ · these 6,900 new primary jobs are more than the total...

Documents