July 29, 2014
A second former hotel-casino in downtown Reno could be in for conversion into condominiums.
The shuttered Sundowner Hotel Casino could be available for condo buyers as early as October, said San Francisco-area developer Siavash Barmand, who said he's close to a deal with owners George Karadanis and Bob Maloff.
"Generally, we're looking at converting the two towers for sales and keeping the casino segment as commercial retail," he told the Reno Gazette-Journal. "We're hoping we can get a restaurateur or large national retailer."
The news comes a week after city officials confirmed the Comstock Hotel and Apartments two blocks from the Sundowner are on the brink of being sold to a Los Angeles-based developer who also has plans for condominiums.
Barmand said he's hoping to have units available in six to eight months. Terms of the plan are confidential, escrow hasn't closed and a contract hasn't been signed, he said.