“Taking into consideration the completion of The Montage and the initiation of the ReTRAC Plaza, it is now time for us to turn our focus on the transformation of the Fitzgeralds’ collective parcel,” Leal said. 元 experts The Montage to open late next month, he said.

The property also includes the Old Reno Casino, Reno Mercantile Building and Primm Richards property, to become a nongaming-centric boutique hotel. Since last November, the new ownership team at 元 has invested approximately $3 million in improvements to Fitzgeralds and the acquisitions of adjacent properties, said Fernando Leal, 元’s managing partner. However, there is momentum building in the revitalization of downtown Reno, and we believe that the Fitzgeralds and associated properties are critical components to continuing the redevelopment started by The Montage, and most recently by the covering of two blocks of the railway corridor by the city of Reno.”

“These types of decisions are painfully difficult. “Many of our team members have been with Fitzgeralds for many years, and each one has contributed heavily toward what made Fitzgeralds a success in its day,” he said.

“We recognize that Fitzgeralds is a place embedded in deep history, nostalgia and significance for downtown Reno,” he said in a statement.

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