Breaking ground in Reno, the Kimpton hotel is slated to open in 2025.
Las Vegas-based CAI investments has chosen the Biggest Little City for its next property investment. With properties in other states like Arizona and Florida, CAI is also working on two big projects in the downtown core of Reno.
CAI is also renovating the former Harrah’s Reno hotel-casino into a mixed-use residential and commercial project that will later be known as the Reno City Center. The project already has Clear Capital promised as its first major office tenant and just opened a new Starbucks. Construction continues to move forward and the first residential units should be open sometime this year.
“I mean, Las Vegas doesn’t have a Kimpton,” CAI CEO Chris Beavor noted. “This project makes a statement to business and leisure travelers and at a global level that Reno has matured.”
This groundbreaking is a key milestone for the new Reno Kimpton. The project was first announced in late 2019, but the time line was impacted by the unexpected pandemic, and afterward with a challenging construction environment and supply chain disruptions. Its sister project, the Reno City Center, was slowed by an outbreak of COVID among workers earlier this year.
The impact of the pandemic tied with surging inflation was not lost on the executives at Kimpton. The world was a much different place just three years ago when the deal was created.
As a smaller yet growing community, Reno has withstood the impacts of the pandemic much better than larger metro areas. Restaurants are essentially back and even outperforming pre-pandemic levels in some areas of the United States, but in Reno there have been more new restaurant openings than ever.
The project will be the first large-scale construction effort in downtown Reno since the Silver Legacy Resort. Having a Kimpton in Reno translates to the having the backing of a global hotel brand, including its parent company IHG Hotels & Resorts. IHG will be the one marketing the property and Reno to its clientele worldwide.
A boutique hotel like this also offers a great first impression to guests about Reno, from tourists and business travelers to job recruits. With a close proximity to the Truckee River, planned guest activities include kayaking, fishing, and hiking. Wingfield Park will also be utilized for holding events and entertainment.
Kimpton is targeting an opening date of January 2025 and the hotel will have 270 rooms, 50 residences, 50,000 square feet or meeting space, four restaurants, and a rooftop bar.