208 luxury homes are planned to be built in South Reno
RENO, Nev. (KOLO) - The pandemic has left many concerned about what may happen next to our economy, but developers are still finding opportunities for growth.
On the western face of the Steamboat Hills, South of Mount Rose Highway is where Ascenete development is set to be built. A total of 208 approved mapped lots for high-end home builders.
Bryan Drakulich, real estate broker and the owner said bringing in this demographic will help support our economy.
“It’s good for our stores, it’s good for our restaurants, it’s good for our local businesses and that alone is very exciting especially after what we went through with our last recession,” said Drakulich.
Drakulich said the supply of luxury homes is low in Northern Nevada, which has created record demand during the past two years. The addition of Ascente can help us recover from the impact of COVID.
“By having a development and the other things that are going on because of the other business growth that has been taking place in Northern Nevada, I see that as an opportunity for these businesses to come back and revitalize,” Drakulich said.
These homes ranging anywhere from $700,000 to $1.5 million. The development feeds into Mount Rose Highway, giving access to hundreds of businesses. Drakulich said with major companies coming into our area, the need for luxury living will grow.
“We need homes in every price sector,” said Drakulich. “We are basically at .5 of a home per month in inventory, I have never seen that never heard of that.”
Drakulich said by adding opportunities for growth into our market, we can strengthen our economy and withstand the aftermath of COVID-19.
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