Reno Real Estate Market Prices Pushed Up Again
Tanamera Apartments Converted to Overpriced Condos

Ronald Reagan used to say, "Here they go again" when he found some big goverment project that was ripping off American tax payers. Well, he is gone and can't say it - so I will. "Here they go again!"

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 1, 2005