Town Center Lot Purchase

Town Center

Posted by Pat Brooks

The purchase of the Town Center Lot, adjacent to the Town Center Club, is once again being considered for purchase by the SOA Board.  As far as I know, there is no plan for what will go on that lot.  Shouldn’t there be a feasibility study, to see what is possible?  There is a drainage easement traversing the property, near the center, which needs to be assessed with consideration as to what could be built there.  We certainly don’t need more office buildings, with many vacancies available in the other buildings.  Financially, I do not think it is wise to deplete our cash reserves, with no plan for how the property would be used.

16 thoughts on “Town Center Lot Purchase

  1. Rumor Mill suggested this already purchased for a senior Alzheimer Unit facility ?
    Just a bad rumor ?

    1. Wrong property Ed, The Alzheimer Units will be built on the vacant lots adjacent to the Town Center commercial buildings (East side).

  2. Pat makes some good points. Originally I thought it a good idea for the SOA to buy the property. However, I now question the viability of spending up to $220K of homeowner funds (amount authorized) for a piece of property with no plans, or budget, to do anything with it, Except pay taxes. I suggested, to no avail, that the decision to buy be defered until after the 2013 budget process and election of the new Board in November.

  3. I completely agree with Pat Brooks regarding this purchase. Without any idea of how this land can be used, this is a frivilous expenditure. You are not allowed to build on an easement.

  4. As much as I rail against almost all things Blake, buying this lot APN 232-051-10 probably makes sense for the SOA. It is the only land available contiguous to the existing amenities at Town Center fit for expansion of the Club. The easement isn’t a deal killer – is is underground and parking / landscape can go over it.

    Do I think Blake / SOA should give everyone a clue why they think it is important to buy the lot? Sure. But it is a great deal in this depressed market and I don’t blame SOA for moving on it. And it is a good defensive move to prevent a mini-storage facility or a pay day loan office or more memory care zombies.

    1. I don’t have an issue in principle with the SOA buying the lot, However;

      1. What is the plan, echoing ReReno?
      2. What is the rush?
      – there are no other buyers hovering around. There are plenty of mini-storage units within striking distance of Somersett!!
      3. If it was so important to the TCTC’s future expansion, why did Blake/Somersett Development not include it in the “dedication agreement” (selling the TCTC and C9 to the HOA)?
      4. Given the financial troubles within Somersett due to the Great Recession of 2008, why would the HOA not reach out to the homeowners in Somersett and seek their approval via a vote?
      – why don’t we wait until a new board has been elected, and the future plans for the TCTC are crystal clear?
      5. Additionally, why would the current HOA board not reach out to members of the community to test the community spirit and altruism within, which would help to offset the costs into all homeowners?
      In my opinion, there is a lot to be gained by involving all the residents in developing the community in its future.

    2. The easement runs diagonally through the center of the property preventing anything being built there that would prevent access to that easement. Without determining what could be built there, the SOA would be spending SOA cash without knowing what, if anything, could ever be built on that lot. The SOA could be stuck with a property that could only be used for a parking lot or landscape area. We need more information before proceeding with this purchase.

    3. Memory care zombies? Really? My mother is a “memory care zombie” as you put it. With comments like that you too should some day become a memory care zombie. Maybe you wouldn’t be so insensitive if you too had dementia.

      By the way, the only thing wrong with them is they can’t remember things. While it’s an awful disease, there are much worse conditions and the elderly with any type of disease deserves our compassion and understanding.

      1. Barry,

        I agree that the term “memory care zombie” was very insensitive. My mother past away last year in an Alzheimers facility at 102 where they took wonderful care of her. I hope you are aware that this comment came from a non-Somersett resident who has a Blog site that deals with Reno real estate issues. Whereas Blog sites of this type provide a forum to discuss issues and present opinions, contributors are not always respectful.

  5. Update on the Town Center Lot Purchase.

    At the June 8, SOA Board meeting, Ray Lee announced that the SOA’s bid for purchase of the lot at $190K was rejected by the bank, who countered at $210K. However, the Board decided not to accept the counter offer, and as I understood it, placed any further decision on hold until after the 2013 Budget Process.

    1. This is good news. If the lot was a great deal, it would have been already purchased by a commercial entity by now.

    1. I don’t think it’s the right price (too expensive) for the parking lot that Blake spoke about wanting, especially with the easement running through almost the middle of it.. The lot sold for the Alzheimers facility would have provided parking, but no one even suggested buying it.

    2. Construction at $120/sq ft
      Build a 5000 sq ft coffee shop
      + $190k for the lot
      + $75K equipment to make the coffee

      A $30 month special assessment for two years? – would it be open to all residents of Somersett

      Will the residents pay a special assessment of $8 a month for extra parking for 2 years?

      As it is dedicated to the TCTC we can’t expect Sierra Canyon to pay?

      I still want my Joe!

      Would the homeowners for this expenditure?

      Comments please

      1. For the SOA to build a coffee shop as you suggest would require a majority vote of all homeowners to secure the required loans. I doubt it would pass (I certainly wouldn’t vote for increasing my dues by $30/month for a coffee shop when I have a perfectly good coffee maker at home!). If Sierra Canyon were excluded, the resulting assessment would be either higher or for a longer period. However, why would they, it could be part of the Common Area and not TCTC.

        Bottom line, bad idea for homeowner funding and for the SOA to be involved with running a commercial business., If a coffee shop is such a good idea, let Starbucks buy the lot and/or rent Town Center commercial property and build one. I suspect some comercial endeavor has already looked at this and decided it was a bad risk.

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