{"id":1004804129,"date":"2026-07-03T02:44:46","date_gmt":"2026-07-03T10:44:46","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004804129"},"modified":"2026-07-03T02:53:31","modified_gmt":"2026-07-03T10:53:31","slug":"madison-capital-to-reposition-reno-hotel","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/madison-capital-to-reposition-reno-hotel\/","title":{"rendered":"Madison Capital to Reposition Reno Hotel"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure data-wp-context=\"{&quot;imageId&quot;:&quot;6a47b2d92067e&quot;}\" data-wp-interactive=\"core\/image\" class=\"alignright size-full is-resized wp-lightbox-container\"><img loading=\"lazy\" decoding=\"async\" width=\"1255\" height=\"941\" data-attachment-id=\"1004804130\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/madison-capital-to-reposition-reno-hotel\/reno-revival-madison-gensler\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/07\/Reno-Revival-Madison-Gensler.jpg\" data-orig-size=\"1255,941\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Reno-Revival-Madison-Gensler\" data-image-description=\"&lt;p&gt;Image obtained from Madison&#8217;s website here: https:\/\/madisoncapgroup.com\/news\/madison-capital-group-launches-qualified-opportunity-zone-fund-focused-on-downtown-reno-hospitality-redevelopment\/&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;Reno Revival targets the repositioning of the former 928-key Harrah\u2019s Resort and Casino in downtown Reno, Nev. Image courtesy of Madison Capital Group &lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/07\/Reno-Revival-Madison-Gensler.jpg?w=1024\" data-wp-class--hide=\"state.isContentHidden\" data-wp-class--show=\"state.isContentVisible\" data-wp-init=\"callbacks.setButtonStyles\" data-wp-on-async--click=\"actions.showLightbox\" data-wp-on-async--load=\"callbacks.setButtonStyles\" data-wp-on-async-window--resize=\"callbacks.setButtonStyles\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/07\/Reno-Revival-Madison-Gensler.jpg\" alt=\"Rendering depicting the repositioned tower inside the former Harrah's Resort and Casino in downtown Reno, Nev.\" class=\"wp-image-1004804130\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/07\/Reno-Revival-Madison-Gensler.jpg 1255w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/07\/Reno-Revival-Madison-Gensler.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/07\/Reno-Revival-Madison-Gensler.jpg?resize=768,576 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/07\/Reno-Revival-Madison-Gensler.jpg?resize=1024,768 1024w\" sizes=\"auto, (max-width: 1255px) 100vw, 1255px\" \/><button\n\t\t\tclass=\"lightbox-trigger\"\n\t\t\ttype=\"button\"\n\t\t\taria-haspopup=\"dialog\"\n\t\t\taria-label=\"Enlarge\"\n\t\t\tdata-wp-init=\"callbacks.initTriggerButton\"\n\t\t\tdata-wp-on-async--click=\"actions.showLightbox\"\n\t\t\tdata-wp-style--right=\"state.imageButtonRight\"\n\t\t\tdata-wp-style--top=\"state.imageButtonTop\"\n\t\t>\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"12\" height=\"12\" fill=\"none\" viewBox=\"0 0 12 12\">\n\t\t\t\t<path fill=\"#fff\" d=\"M2 0a2 2 0 0 0-2 2v2h1.5V2a.5.5 0 0 1 .5-.5h2V0H2Zm2 10.5H2a.5.5 0 0 1-.5-.5V8H0v2a2 2 0 0 0 2 2h2v-1.5ZM8 12v-1.5h2a.5.5 0 0 0 .5-.5V8H12v2a2 2 0 0 1-2 2H8Zm2-12a2 2 0 0 1 2 2v2h-1.5V2a.5.5 0 0 0-.5-.5H8V0h2Z\" \/>\n\t\t\t<\/svg>\n\t\t<\/button><figcaption class=\"wp-element-caption\">Reno Revival targets the repositioning of the former 928-key Harrah\u2019s Resort and Casino in downtown Reno, Nev. <em>Image courtesy of Madison Capital Group <\/em><\/figcaption><\/figure><\/div>\n\n\n<p>Madison Capital Group will reposition one of the towers inside the former Harrah\u2019s Resort and Casino in downtown Reno, Nev., to a 292-key, Class A hospitality property. To support the revamp, the company debuted a $36.2 million qualified opportunity fund.<\/p>\n\n\n\n<p>Dubbed Reno Revival, the larger redevelopment targets the entire property, which was formerly a 928-key hotel that included three towers and other low-rise buildings. The 1.3 million-square-foot project will feature retail, office, multifamily and entertainment spaces alongside the hotel. The Mint, a boutique casino operated by Fine Entertainment, opened last year.<\/p>\n\n\n\n<p>Harrah\u2019s Resort and Casino closed its doors in 2020 after operating for more than 80 years. CAI Investments purchased the asset that same year and kicked off the redevelopment process. However, CAI declared Chapter 11 bankruptcy on the project in 2024.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p><strong>READ ALSO<\/strong>: <a href=\"https:\/\/www.commercialsearch.com\/news\/wizards-predictions-and-commercial-real-estate\/\">Wizards, Predictions and Commercial Real Estate<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p>Madison entered the picture one year later, when the company became the majority owner and lifted the property out of bankruptcy. The project crew has included architect Gensler and general contractor ESI Construction. Development company Ahlquist initially worked alongside Madison but exited the redevelopment in December 2025.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-reno-s-demand-drivers-fuel-downtown-redevelopment\">Reno&#8217;s demand drivers fuel downtown redevelopment<\/h2>\n\n\n\n<p>Reno Revival takes up an entire city block in the city\u2019s central business district, but Madison isn\u2019t the only company working on reimagining the downtown area. In May, Jacobs Entertainment wrapped up the first phase of a larger, $400 million redevelopment of the J Resort. The first stage included entertainment areas and housing, while subsequent phases are slated for a 600-key tower and a 4,000-seat showroom, among other buildings.<\/p>\n\n\n\n<p>The broader Reno market also benefits from the expansion of tech and logistics sectors, as well as the growing <a href=\"https:\/\/www.commercialsearch.com\/news\/more-data-centers-please\/\">data center demand<\/a>. Other drivers include tourism, conventions, the University of Nevada, Reno and the metro\u2019s health-care systems.&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The firm debuted a $36.2 million investment vehicle.  <\/p>\n","protected":false},"author":3471,"featured_media":1004804130,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,21825,21751,21742,15],"tags":[33012,45377,43094],"class_list":["post-1004804129","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-finance","category-hotel","category-latest","category-west","tag-gensler","tag-madison-capital-group","tag-opportunity-zone-program"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Madison Capital to Reposition Reno Hotel - 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