Part of Horseshoe Club in Carson City under new ownership
November 1, 2016
Part of the former Horseshoe Club is under new ownership.
The building at 410 N. Carson St. closed escrow last week.
The site sold for $383,000 to Douglass Development LLC, managed by Daniel Douglass, a Reno-based investor.
The new owner plans to remodel the upstairs into two apartments and the downstairs into retail space for one to three tenants as well as make improvements to the building's exterior, said Samuel Douglass, John Uhart Commercial Real Estate Services, who represented the seller, Jeanette Kelley and the Eugene Chaney Family Limited Partnership.
The Horseshoe Club's owner is holding onto the remaining property, which is undergoing a makeover.
Last month, the Redevelopment Authority Citizens Committee approved $44,425 in matching funds from the city's Facade Improvement Program for the two buildings.
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The funds can only be used for work done on the buildings' exteriors, but both sites also are being rehabbed inside.
The space at 402 N. Carson St. is being remodeled for a restaurant tenant on the first floor and offices on the second floor while 408 N. Carson St. is being redone for retailers on the first floor and apartments on the second floor.
The broker is currently looking for tenants for the restaurant and retail space, said Douglass.
The facade work should be completed next spring, he said.
The Horseshoe Club's gaming license is in the process of being sold to the owner of Bodines Casino, Silver Bullet of Nevada LLC, which plans to open a second casino location in NorthTown Plaza.
The sale must be approved by the Nevada Gaming Control Board and Gaming Commission as well as the Carson City Board of Supervisors.