Demolition Begins at Virginia Lake Apartments - KTVN Channel 2 - Reno Tahoe Sparks News, Weather, Video

Demolition Begins at Virginia Lake Apartments

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Courtesy: Silverwing Development Courtesy: Silverwing Development
Courtesy: LA Studio Courtesy: LA Studio
The Virginia Lake Apartments were built in the 1960’s. On Tuesday, the 68 units became a thing of the past.

It only took a matter of seconds to tear down the first unit, and a few minutes to demolish the entire structure.

“It does go pretty quickly,” said Doug Hunter, Director of Construction with Silverwing Development. “We will start making big piles of rubble and haul it out tomorrow.”

The project in total costs roughly $40 million. Silverwing bought the land back in 2006, but because of the recession, they were not able to proceed with construction.

“The comeback with the housing and rental market (now), we were able to financially justify it to our lender,” said J. Witt, President of Silverwing Development.

City of Reno officials say a project like this shows the area is making a recovery.

“It’s a big statement about the economy,” said Councilwoman Sharon Zadra. “It is recovery and this is a big statement of that.”

Witt calls the project the largest redevelopment project since the economic downturn.

When complete, the 11 acres will transform into 336 apartments and units.

“The architecture is all Tahoe style with rock and exposed beams,” said Hunter. “It will be fantastic.”

Some units will be rented out while 48 will be for sale. Prices for these units will be released later in the fall. The first units will be ready March 2015.

Silverwing says they will contribute funds to the City of Reno so it can install equipment in Virginia Lake to improve water quality and clarity. 
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