Gray’s crossing village gets underway
As work continues on the Village at Gray’s Crossing, developers are still looking for tenants to run shops, a restaurant and a small grocery store.
Located on about a 20-acre parcel on the southeast corner of Highway 89 north and Prosser Dam Road in Truckee, the village phase of the Gray’s Crossing planned community cleared the planning commission last spring.
Now with construction of two townhome buildings set to wrap up in a few months, developer East West Partners is gearing up to start on the commercial portion of the village this summer.
“We are targeting a June 1 start for three commercial buildings, and we’ve been building five townhomes that should go on sale in June,” said Jeff Butterworth, Gray’s Crossing project manager.
The first commercial building will be mixed-use with retail space underneath residential loft space, followed by a retail/restaurant building, and finally a small, specialty grocery similar to Trader Joe’s, Butterworth said.
If everything goes according to plan, Butterworth said the three commercial buildings could be occupied and open by May 2009.
But there are still a few challenges as the village moves forward, he said.
“Financing is an issue; banks are getting very tight,” Butterworth said. “But we think we will be able to get it.”
The next challenge is finding tenant businesses for the spaces.
“We’re having a hard time finding an operator for the grocery, so we’ll wait to start that building until later in the summer,” Butterworth said.
Looking further down the road for the Village, Butterworth said a hotel, initially planned at 120 to 150 rooms, could break ground in 2009.
A gas pump, operated by the grocery store, is looking less likely however, he said.
“We’re getting no interest from grocers in a gas pump, so I don’t know if that will ever be built,” Butterworth said.