UNR Sells Slice of Half-Century-Old Research Farm for $18M

RENO, Nev. (AP) — The University of Nevada, Reno has completed the $18 million sale of about one-tenth of its half-century-old research farm for commercial development on one of the last big, undeveloped parcels zoned for industrial-retail use within the city limits.

The university plans to spend the proceeds from the 104 acres (42 hectares) — more than $173,000 per acre ($458,571 per hectare) — on new campus laboratories and advanced research into wetlands and range improvements for livestock.

It finalized the deal on Monday with Reno Land Inc., which already is building a pair of master-planned communities at a former Reno shopping center and on ranchland that was owned by casino mogul Bill Harrah.

The agricultural research center along the Truckee River about 5 miles (8 kilometers) east of downtown dates to 1956.

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