RENO, NV -- The sale of the prominent Harrah family estate - Rancharrah - has closed escrow, paving the way for locally owned Reno Land Development Company to move forward with its plans to develop the Harrah family estate.
After months of planning and review, the closing completes a complex deal managed by Bryan Drakulich of DoMore Real Estate.
"This closing represents a unique synergy between the community, the buyer and seller who all worked diligently to get this deal done," said Drakulich. Reno Land Company received community input into its design plans over the past year and the Reno-based developer says with the purchase it intends to preserve the ranch's unique heritage.
"This is a momentous occasion - one in which only came to fruition through the extraordinary vision of John Harrah," said Chip Bowlby, owner and managing partner of Reno Land Development Company. "It was his personal quest to ensure that Rancharrah was passed into the hands of a developer that would carry forward that iconic vision of what he intended Rancharrah to become. After careful and deliberate consideration, he engaged us to continue the heritage he envisioned and we intend to fulfill its destiny."
"Rancharrah has become an important part of my family's legacy, my legacy," said John Harrah. "I am confident and secure in knowing that Chip Bowlby and those at Reno Land Development Company will build upon all that I imagined and worked toward in bringing Reno a spectacular and memorable community setting. I believe Rancharrah will be further established as a Reno icon - one in which the city and its residents can be proud."
In July, community development plans were unanimously approved by the Reno Planning Commission, Reno City Council and the Regional Planning Commission - leaving the final closing of the sale as the last step of bringing the master-planned vision to a reality. Construction is scheduled to begin this spring.
"From the start, we recognized the historic nature of Rancharrah," said Chuck Reeves, partner and spokesperson of Reno Land Development Company. "We understood its identity and its unique connection to the community and neighborhood, which is why we invited community input on our design concepts and development plans. We are excited to start the process of bringing this master-planned development to full fruition, where it will be a tremendous place for Reno families to live."
With a 141 total acres of approved development, land plans call for 117 acres to be dedicated to residential (691 lots) and 25 acres designated to commercial/office/medical and retail uses. Thirty percent or approximately 43 acres has been dedicated to landscaped open space. A linear park connecting Wheatland Park to Del Monte Lane will feature a pedestrian trail with exercise equipment nodes.
The residential portion will consist of seven distinct villages - displaying a mix of design variations from urban residential to estate-style lots.
Rancharrah recently took home the coveted 43rd Annual DeBoer Award for "Outstanding Plan for an Individual Project" at the American Planning Association Nevada Chapter annual conference.
Development plans also call for the iconic Rancharrah mansion and the state-of-the-art equestrian center to be highlighted as centerpieces of the master-planned community, complementing the existing private lake and the overall community aesthetics.
Bill Harrah originally purchased the land in 1957 from Norman Biltz, the "Duke of Nevada" and dubbed the Camelot-like area - Rancharrah. Son John Harrah later rebuilt the main house as an equine-themed mansion and built the equestrian center, where it is recognized as one of the nation's leading cutting-horse facilities.
Harrah looks forward to a new chapter for the estate and himself. "This has been home my entire life and it's time to let all of Reno into Rancharrah."
Reno Land Development Company and its affiliated companies build master-planned communities throughout Idaho, Nevada and California.