:
US: Multifamily developer Hillpointe has acquired a 32.5-acre site in Reno, Nevada, for a development combining 268 apartments with 90 build-to-rent townhouses.
Pointe Grand Cape at Southport will be developed at 18610 Wedge Parkway and represents Hillpointe’s first project in Nevada. The seller and purchase price were not disclosed.
The scheme will include 268 two-bedroom apartments across 12 buildings. Each apartment will provide two bathrooms.
The 90 build-to-rent townhouses will have three bedrooms, two-and-a-half bathrooms and an attached two-car garage.
Shared amenities will include a clubhouse, swimming pool, hot tub, fitness centre, dog park and pickleball court. The site is located close to The Summit Reno retail and dining destination.
Initial grading work is scheduled to begin during the fourth quarter of 2026, followed by full site works in December. Vertical construction is expected to start in March 2027.
Hillpointe is targeting the first residential deliveries in January 2028, with the development expected to complete in April 2028.
Ryan Kruger of Land Advisors Organization represented Hillpointe in the land acquisition.
The developer is expanding into Reno as the region attracts employment from the manufacturing, technology and logistics sectors, supported by developments including the Tahoe-Reno Industrial Center and Tesla’s Gigafactory Nevada.
Hillpointe develops and manages attainable rental housing under its Pointe Grand brand. Its portfolio comprises 55 communities and more than 11,400 units across the US.
The company recently secured $67 million in financing for Pointe Grand Interbay at Tampa, a 408-unit workforce housing development scheduled to open in June 2027.
Highlights
- Hillpointe has acquired a 32.5-acre development site in Reno.
- Pointe Grand Cape at Southport will provide 358 rental homes.
- The scheme will include 268 apartments and 90 build-to-rent townhouses.
- The acquisition marks Hillpointe’s entry into Nevada.
- Vertical construction is scheduled to begin in March 2027.
- The first homes are expected to be delivered in January 2028.
- Full completion is targeted for April 2028.
- The value of the land acquisition was not disclosed.
