Jacobs Entertainment has sold what is believed to be among the oldest homes in Reno for simply 1 dollar.
Jacobs Entertainment remains on an investiture spree in “The Biggest Little City inwards the World.” The Colorado-based gaming companion acquired the Sands Regency in 2017 for $30 meg and has since rebranded and renovated the Reno cassino belongings to the j Resort. W. W. Jacobs also owns the nearby Gold Dust.
Jacobs is amid an ambitious architectural plan to modernise the western side of the downtown region with the introduction of the J Resort Neon Line, a mixed-use evolution extending from the j Resort at Arlington Ave. betwixt W. 3rd and 4th streets W to the Gold Dust at Vine St.
Jacobs has been buying upwardly properties on its proposed Neon Line, and due east toward the Reno Arch and primary feather casino corridor. One such attribute it acquired was 347 Cicily Isabel Fairfield St., a boarded-up historic rest home surrounded by parking lots.
Jacobs bought the home, thought to be among the 1st homes reinforced inward Reno dating rearward to the late 1860s, inwards Jan for $1.2 million. The society said at the clip that the purchase was constituent of the Neon Line project.
Home Sold for $1
Jacobs Entertainment bought the nursing home from St. John Gorham, a local businessman whose parents opened the shuttered Bonanza Inn inward 1986. Gorham owned the place since purchasing it in October 2015 for $142,500.
Jacobs acquired the Bonanza through an auctioneer inwards February for nigh $3 million. The companionship plans to convince the deteriorating edifice into more or less 50 affordable lodging units where many Neon Line workers testament live.
Jacobs Entertainment said before long after buying 347 Mae West St. that it would sell the historic single-story, 1,500-square-foot rest home for just now a buck. But the terms came on the stipulation that the emptor would keep and relocate the dimension to readable the way from Virginia St. to the Neon Line.
Three bids for the attribute were fielded, Jacobs reps told the Reno Gazette-Journal. The company picked Mount Logan and Angelina Needham as the $1 buyers after a “thorough vetting process.”
It’s important to keep Reno’s historic homes as we bear on to revitalize downtown,” said Jacobs Entertainment CEO and possessor Jeff Jacobs. “We are happy to consider the Occident Street home go game to the Needhams. This is an instance of progress and saving happening hand-in-hand.”
The Needhams be after to relocate the nursing home to a nearby vacant dimension the couple on owns.
Home History
According to the Historic Reno Preservation Society, 347 Benjamin West Street was for decades known as the Benham-Belz House. Historians believe the turn to to follow the oldest homestead inward the Silver State city.
There is persuasive evidence that [the home] was constructed inward Reno’s founding year of 1868 or early 1869, making it the oldest known put up constructed in Reno,” the historical society’s website explains.
The home was originally owned past the Benham family, whose paterfamilias was a stone stonemason who came to the closure to facilitate establish what would get Nevada’s third-largest metropolis behind Las Vegas and Henderson. The Benhams moved to Spokane around 1880 and sold the prop to local barber John Lackland Belz. The nursing home remained in the Belz menage until 1981.
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