Case Study: Reno’s I-80 Air Rights Project

Details

• Corporate Creators:
  United States. Federal Highway Administration
• Corporate Contributors:
  United States. Federal Highway Administration. Center for Innovative Finance Support
• Subject/TRT Terms:
  • Value capture
  • Construction projects
  • Right of way (Land)
  • Interstate highways
  • Financing
• Resource Type:
  Brief
• Geographical Coverage:
  United States;Nevada
• Corporate Publisher:
  United States. Federal Highway Administration
• Description:
  In the 1970s, the Nevada Department of Transportation (DOT) entered into an abovegrade right-of-way use agreement, called an “air rights agreement,” with a private developer for a 15-story hotel-casino above I-80 in Reno. But after the developer built a concrete-and-steel cap deck over I-80, financing for the rest of the project fell through, and the developer backed out of the hotel-casino project. The lease was transferred from private party to private party for 26 years until a retail store chain secured a sublease to build a store on the deck above I-80. The chain rehabilitated the deck and built the store in four years without shutting down the highway below. This use shows the kind of planning and community process needed to make use of a long-vacant structure after a development is canceled.
• Format:
  PDF
• Download URL:
  https://rosap.ntl.bts.gov/view/dot/63435/dot_63435_DS1.pdf
• File Type:
  [PDF - 383.42 KB]
• Collection(s):
  Federal Highway Administration
• Main Document Checksum:
  urn:sha-512:e2f373a7f0c1172b41d2b0a66b8141dc2a3e9bfcd79fcea6fd4f7653c629e6846f364731041b70b5206094404e9c5f9f0b6b7906f97d14b241b3763abf627bd7