By Elaine Bassier | Free Press Staff Writer
CAPPS Group breaks ground on development.
ELKO – Construction vehicles were busily working Wednesday at the site of Elko’s newest development area on Silver Street east of the 12th Street intersection.
The property will be the future home of a business park, and the developers celebrated the start of the project with a groundbreaking ceremony at the site. Members of Elko City Council, Elko Area Chamber of Commerce, Redevelopment Advisory Council and the business park developers attended the groundbreaking.
“It’s a real benefit to have this opportunity,” Mayor Chris Johnson said.
Robert Capps is the president and CEO of the CAPPS Group, the owner and developer of the 25-acre property.
Mass grading began this week on the first phase of development on a 10 –acre portion of the site, and Capps said he expects that part of the project to be completed by May 16. Next will be underground work, establishing water/sewer lines and storm drains as well as gas and electrical power. Finally, the site will receive sidewalk, curb and gutters, and paving.
“It’s exciting after just talking about this for a couple of years to see construction,” Capps said.
Capps estimated that building on the lot can begin by the first of July. Businesses can purchase property and build their own buildings, or lease a built-to-suit construction from CAPPS.
Jim Winer, owner of Coldwell Banker Algerio/Q-Team Realty, said CAPPS will begin marketing the park now that possible buyers can better see what the site will look like. He is excited about the prospects the park could bring to Elko.
“There is most definitely…a shortage of business and industrial zones in Elko,” he said.
The city needs space to attract businesses, he said. Developing the park also opens up the possibility of connecting Silver Street to Manzanita Lane, something the city has discussed for years.
“It’s definitely something the community needs,” Winer said.
Pam Borda, executive director of Northeastern Nevada Regional Development Authority, attended the groundbreaking and said the business park opens up a lot of possibilities for development in Elko.
“It’s going to be an awesome development and we need it,” she said.
One of the first tenants in the business park will be the new police station, which will sit on a 3-acre piece of property at 14th and Silver streets.
Johnson said the city has purchased the police station property for $315,000. The next step in the process is to see the result of a petition to put the general obligation bond financing of the station on the November ballot. Johnson said city council will learn if the petition was successful in June.
In the meantime, city council at its last meeting initiated medium-term (10 year) financing as a parallel process to fund the project. Medium-term financing does not have as many steps to go through as general obligation bond financing. A first and second reading of the resolution has to be conducted at two separate council meetings before it goes into effect.
“(The) goal is to go to bid on the police station in mid-July,” Johnson said.