2302 Oddie Blvd, Sparks, NV 89431

This is a 2.37-acre multifamily-entitled development site strategically located within a larger 8.12-acre parcel in a HUD Qualified Census Tract. The site is entitled for the development of three three-story buildings, each with 36 units, along with 108 surface parking spaces. Current zoning allows for apartments, providing an excellent opportunity for buyers to customize the design during Phase Three, following submission to the City. The Seller has completed Phases One and Two of the entitlement process, with essential reports such as Geotechnical, Environmental, and Survey available for review. This flexibility allows the buyer/developer to determine unit sizes and layouts. Numerous federal and state tax credits are also available for qualified developers. The site is ideally situated north of the 81,247 square-foot Evergreen Plaza Shopping Center and west of the newly constructed 288-unit Parq Crossing luxury apartments. It is part of the Oddie District, which features the 62,000 sq. ft. Generator Maker Space, along with various tenants like Cartwheel Robotics, CoffeeBar, Fifty Fifty Brewing Company, Mythic Gymnastics, Nevada Works, and The Innovation Collective. A new Starbucks is under construction nearby, and El Super Mexican grocer has recently opened. The submarket has recently benefited from a $55 million Reno Transportation Commission road improvement project, enhancing over 2 miles of roadway with bike lanes and pedestrian safety features. The site offers a unique opportunity to develop affordable housing in an underserved area, with the potential to increase density to 300 units and construct buildings up to 90 feet high. Cross easement parking is anticipated at the property.