A trustee sale in Reno today marked the end of the much ballyhooed but never realized Reno Kimpton hotel project on Court Street with the only bidder Court Street Ventures LLC getting the land for $1 million.
That company itself has lent money to the project and is still in a legal battle with Las Vegas-based CAI Investments, which had previously filed for bankruptcy for this specific, much talked about, yet gone nowhere project.
The City of Reno even changed its shadow ordinance in 2019 to help, loosening requirement on tall buildings in downtown areas, to establish Nevada’s first hoped for Kimpton-branded boutique hotel.
CAI was also the initial purchaser of the Harrah’s for $50 million before stalling on that project as well. The company has been represented locally by attorney Garrett Gordon who also does work for Jacobs Entertainment.
At one point, CAI Investments had this blurb on its website concerning the Kimpton Project: “Kimpton Hotels & Restaurants, part of IHG Hotels & Resorts’ Luxury & Lifestyle Collection, joined CAI Investments, key stakeholders and local officials on Friday, May 13 for a ceremonial groundbreaking event to mark the progress on its new hotel in Reno, Nevada. When it opens in late 2024, the new Kimpton in Reno will become the first newly constructed non-gaming hotel built in the city. With a prime location in the heart of Downtown and across the street from the Truckee River and Wingfield Park, the hotel will become a beacon for boutique hospitality in the “Biggest Little City in the World.””
Our Town Reno reporting, May 16, 2025