RENO, Nev. (KOLO) -Jacobs Entertainment said Thursday it wants to bid on motel property slated for demolition to add it to its Neon Line District.

The Bonanza Inn is at 215 W. 4th St. and was originally supposed to be purchased by the Reno Housing Authority.

In April 2022 the city approved a deal to sell it to RHA for $6 million. That agreement fell through.

Jacobs Entertainment said the property is scheduled to be sold at an auction on Nov. 29.

The developer said it is scheduled to appear before the Reno City Council on Nov. 15 to give updates on its development agreements with the city.

It said it wants to use the property to create housing for workers and for senior citizens.

“We intend to make a strong bid to acquire the property in order to develop additional workforce housing, with a set aside for 10% affordable senior housing units” CEO Jeff Jacobs said in a statement. “While we currently own the 47-unit Renova Flats, with 10% affordable senior units, as well as the 60-unit 245 North Arlington apartments under construction, also with 10% set aside for senior affordable housing, we are looking for additional opportunities out into 2025.”

The Neon Line District going west from downtown Reno includes the former Sands Regency, now called J Resort, the Gold Dust West, Glow Plaza festival grounds, and new housing at Renova Flats and 245 North Arlington.

Jacobs Entertainment said it is a $400 development.

More information: https://renosneonlinedistrict.org/.

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