Reno Real Estate Market Prices Forced Up *
Tanamera Apartments Converted to New Overpriced Condos

The price of Reno Real Estate is completely out of hand. There are more million dollar houses sprouting up every day in Nevada and that's great, except there are no regular houses around. So we rent. We try to find a nice apartment for our families and what do they do? Go Condo. My story from yesterday raised quite a stink so I will leave it here for a while. Enjoy. M.K.C.

Reno City Council has allowed another high priced real estate deal to go down without the thought as to what it might mean to local renters. The local news channels say nothing, the RGJ acts like its a godsend, and who gets screwed in the end. You do. All of us do. Follow this train of thought with me. One of the few Reno Apartments available "without roaches" was Tanamera. Tanamera Apartments, with the weight room, the clubhouse, garages and swimming pool with waterfalls, and even though the rent was pretty high it was filled with tenents about 95% of the time. The RGJ said that has made Tanamera Apartment Homes a prime target for conversion into condominiums.

Good for the owners of Tanamera - who sold this property to Barone Group which "specializes" in condo conversions. End result? Reno Nevada is going to have these Tanamera Apartments for sale soon, and they are saying the "starting price" is in the low $200's. Wow, more $200,000 one bedroom apartment/condos! Does that make an even dozen yet?

Research into the cost of a condo in Reno just a few months back was no more than $180,000 on its best day. What makes this San Diego Real Estate Developer think that it can take away the few rentals available in Reno and then charge some guy from San Francisco $220,000. How can they move into town and drive up the cost of real estate by $60,000 in a few months? Ask the Reno City Council, ask the Mayor, ask Tanamera, or Keller Realty acting as the "sales manager" for the Tanamera conversion. The whole thing just smells odious.

The RGJ panned the whole project too, acting like this is the best thing since the Mayor got rid of the Men's Club. The Gazette Journal reported this overtaking of Reno Nevada Real Estate Prices like it was nothing more thanpretty little condos all in a row. In reality, it means that if you are looking for a place to live anywhere in Reno Nevada you better be ready to pay $200 grand for an apartment, or $2000 a month to rent one; if you can find one.

Maggie K Curtis - Reno Nevada News - October 02, 2005