About 30 years ago, Cleveland, Ohio, developer Jeff Jacobs purchased his first property in Reno, the Gold Dust West casino near bustling Keystone Avenue, not far from downtown.
Then, about 10 years ago, he stepped up the pace. He gobbled up property like Pac-Man on the west side of downtown Reno, including derelict motels, empty lots, a neighborhood bar, car repair shop, even a wedding chapel.
He took some heat for razing the motels, since they were run-down homes for some impoverished people in a city with very little affordable housing. Much of his new property, like the motels, was trashed – a model of depressing urban blight…