October 1, 2019

UNR Sells Slice of Half-Century-Old Research Farm for $18M

RENO, Nev. (AP) — The University of Nevada, Reno has completed the $18 million sale of about one-tenth of its half-century-old research farm for commercial development on one of the last big, undeveloped parcels zoned for industrial-retail use within the city limits.

The university plans to spend the proceeds from the 104 acres (42 hectares) — more than $173,000 per acre ($458,571 per hectare) — on new campus laboratories and advanced research into wetlands and range improvements for livestock.

It finalized the deal on Monday with Reno Land Inc., which already is building a pair of master-planned communities at a former Reno shopping center and on ranchland that was owned by casino mogul Bill Harrah.

The agricultural research center along the Truckee River about 5 miles (8 kilometers) east of downtown dates to 1956.

Read Original Article – https://www.usnews.com/news/best-states/nevada/articles/2019-09-25/unr-sells-slice-of-half-century-old-research-farm-for-18m