Bay Area firm eyeing Woolworth’s building, T3 project in downtown Reno

A Bay Area real estate development and private equity firm is doubling down on The Biggest Little City by eyeing not one but two properties in downtown Reno.

SVE Development Partners is under contract for two key properties in Reno’s core that it plans to turn into Class A office space with retail — with one project also throwing in residential housing to the mix. SVE is a San Francisco-based company that specializes in developing projects and creating funds in locations designated as opportunity zones, said Garrett Gordon, an attorney with law firm Lewis Roca Rothgerber Christie who represents the company. 

The first property is the former Woolworth’s building in downtown Reno, which SVE is calling 101 North Virginia. Gordon expects the purchase of the property to close by October.

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