The Montage hit the market in 2010, a time when the Reno area was hard hit by the recession. The project has changed hands a couple of times since then. Now owners who bought in early are breathing a sigh of relief as the property is now more than 70%sold. "I believe in downtowns, all of them" says Dana Rodriquez who is moving to Reno. "when we drive through the downtown area of Reno I see signs of life, I see signs of revitalization, I see cleanliness, I see people, I see opportunities here." She's relocating from Chicago and looking to live downtown, and she's not alone.
"It's all about convenience," says Samantha Reveley of The Montage "you're right here you're in the middle, in the heart of downtown Reno, which is where so many incredible things have happened in the last two years." At around 200 dollars per square foot, The Sierra Street location is becoming more enticing for those who are looking to buy. The complex offers a pool and barbeque area, a bike room, and a dog walking area.
Resident Betty Scott, who moved from Northwest Reno likes the lifestyle. "I wanted to get rid of the yard," she says. "Home-ownership and property ownership isn't for everyone. I don't enjoy working out in the yard so much, so this has been a great move." As one of the first buyers, Scott is also happy to see the property values stabilize as more of the units sell.
At this point they expect to have the building 80 to 90% sold by the end of the year.