Reno Reporter

A San Diego-based land development firm's purchase earlier this month of more than 1,500 acres near Reno, location of controversial previous attempts at a master-planned community, is a good move for the company, city and county, the company's CEO said in a news release earlier this month.

Lansing Companies announced the purchase of property in Lemmon Valley in a July 6 news release.

"The acquisition of the property we call Prado Ranch represents just one more strategic move for our company to expand our development footprint in Northern Nevada," Lansing Companies CEO Gregory Lansing said in the news release. "We look forward to working with the city and the county for many years to come in order to provide a mixed-use project with much-needed employment and master-planned residential developments."

Lansing Companies will be working with local officials on Prado Ranch development, the CEO said.

"Since half the land sits in the city of Reno and half is located within Washoe County, we expect to have many options for flexibility of the overall development," he said. "We have 860 acres flat land not far from Stead Airport that is an ideal candidate for a major campus type of user. Creating employment opportunities in addition to affordable housing in a well-planned community will be our highest priority."

Lansing Companies plans to develop the property in Reno's North Valley in ways "that will enhance the community" with the portion located in unincorporated Washoe County zoned for more than 3,500 homes, according to the news release. "The other half of the property is inside Reno, where it is zoned for more than 1,000 homes and also includes commercial-zoned areas."

The land, previously owned by a local family for more than 80 years, is in the middle of some very high priced real estate. Median home prices in the Reno area hit record highs of $550,000 in June, according to coverage by Northern Nevada Business Weekly. That median price was a 30.2% increase from the same period last year and was up 5.7% over the previous month.

Lansing Companies is the largest residential and commercial properties developer in the U.S. Southwest, and it probably is best known for its master-planned communities. The company maintains offices in Reno and Racine, Wisconsin, in addition to its main corporate office in San Diego.

The Reno region property acquisition is only the latest property purchase the Lansing Companies has made in California, Colorado, Arizona and Nevada.

Reno City Council has several times rejected development of Prado Ranch in Lemmon Valley, according to News 4.