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Multi-family Homes Making its Mark at the Tesla Gigafactory
Almost 5 years ago Nevada had one of the highest unemployment rates in the nation. When the announcement that Nevada was selected as Tesla’s final selection for their gigafactory last year, all you hear is positive news coming from our state office. Our Gov. Brian Sandoval announced in his State of the State speech said that “Nevada’s job growth is third strongest in the country, we have cut our unemployment rate in half, and we have the second fastest growing population in the nation,” and now our government is discussing how we’re going to meet the demand for the estimated 51,000 primary and secondary jobs projected to be created from 2015-2019. That’s exciting results!!
The question is now, “Where are these people going to live?” and “How are these people going to be housed?” Our market is approximately 50% rentals and there are only so many homes that meet investor’s criteria. You read about Reno’s housing boom and increasing property values due to the Gigafactory, well now comes the investment in multi-family homes!!
With the announcement of Tesla, Sparks, NV a city just a short 15 minute drive west of the Tesla Gigafactory has gained ALOT of interest. The downtown Victoria Square area is a hub for all local events such as Hot August Nights and the Rib Cook Off and is located right off the freeway. This area just got a big announcement.
Historic “Silver Club” Casino sold off to a real estate developer. Iconic hotel/casino will be turned into a multi-family dwelling to support the increase in housing demand due to the Tesla Gigafactory.
A central casino “Bourbon Square Casino” (formally the Silver Club for 33 years) just announced they sold the profitable casino to a local developer who plans on converting the building into multi-family dwellings and offices. First we announced apartment complexes selling for more housing opportunities now it’s a casino. That’s quite the purchase we didn’t see coming.
The Reno multi-family market is also growing at an extremely rapid rate with approximately 1,100 units currently under construction. The rental rates have increased to an average of $887 per unit which has boosted Reno to a record low 2.13% vacancy rate. The low vacancy rates are helping the property owners grow rental rates which in turn helps offset the heavy losses they incurred during the recession.
Looking at our current population (Reno 225,000, Sparks 90,000, Lake Tahoe 66,000, Carson City 54,000, Fernley 22,000, Surrounding Areas 70,000, totaling about 527,000 residents.), an increase of 51,000 or about 10% is pretty significant and this is just the current projected numbers.
There were 10 different large companies visiting our area this January with interest of relocating their facilities here. Companies from overseas in Poland, a very well-known data company looking to host a server farm and another we can’t say as of yet since the deal has not been finalized. What we know is that the company is discussing a larger employment number than Tesla, which is projected at 6,500 employees.
This is all very exciting news for Northern Nevada. We are growing and excelling by diversifying our economy!
by Candy Noel
Real Estate Professional at RenoSparksTahoeHomes.com
Elon Musk
Elon Musk: Tesla Model Y is world’s best-selling car for 3rd year in a row
The Model Y has now established an impressive streak that would otherwise have been impossible before Tesla.
Elon Musk has announced that the Tesla Model Y has become the world’s best-selling car by volume for the third consecutive year, capping 2025 with another dominant performance.
The Model Y has now established an impressive streak that would otherwise have been impossible before Tesla.
Three years in a row
Musk posted on X: “Tesla Model Y is now officially the world’s best-selling car for the third year in a row!” The CEO’s comment echoed an update that Tesla included in its 2025 recap, which highlighted, among other things, the Model Y’s incredible streak.
The Model Y has held the title since 2023, outperforming traditional leaders like the Toyota RAV4 and Corolla thanks to its bang-for-the-buck nature and its stellar combination of practicality, performance, and tech. The Model Y is also lauded as one of the safest vehicles on the road, making it an ideal choice for families in key markets such as China.
An impressive 2025
The Model Y’s sales feat in 2025 is especially impressive considering the introduction of the vehicle’s new variant. Tesla’s changeover to the new Model Y across its global factories resulted in sales being paused for some time in the first quarter. As per Tesla’s Q1 2025 vehicle delivery and production report, “the changeover of Model Y lines across all four of our factories led to the loss of several weeks of production in Q1.”
This suggests that the Model Y’s sales remained strong in 2025 to the point where it could still claim the title of the world’s best-selling vehicle by volume, even with its sales being throttled during the first quarter of the year. It would then be interesting to see just how far the Model Y can go in 2026, especially considering the rollout of new variants like the six-seat extended wheelbase Model Y L, the affordable Model Y Standard, and the top-tier Model Y Performance.
News
Tesla shares epic 2025 recap video, confirms start of Cybercab production
The cinematic montage, posted by the official Tesla account on X, celebrated the company’s progress in EVs, energy, and Robotaxi development.
Tesla has released an epic year-in-review video for 2025, recapping some of its major achievements from refreshed models to autonomy breakthroughs and production ramps.
The cinematic montage, posted by the official Tesla account on X, celebrated the company’s progress in EVs, energy, and Robotaxi development while looking ahead to an even bigger 2026.
Tesla’s 2025 highlights recap
Tesla has had a busy 2025, as highlighted in the recap video. The video opened with Elon Musk explaining the company’s pursuit of sustainable abundance. A number of milestones were then highlighted, such as the rollout of FSD v14, Optimus’ numerous demos, the opening of the Tesla Diner in Hollywood, LA, the completion of the world’s first autonomous car delivery, and the launch of the Robotaxi network in Austin and the San Francisco Bay Area.
Tesla also highlighted several of its accomplishments over the year. As per the company, the Model Y was the year’s best-selling vehicle globally again, and Teslas became more affordable than ever thanks to the Model 3 and Model Y Standard. Other key models were also rolled out, such as the refreshed Model S and X, as well as the new Model Y, the new Model Y Performance, and the six-seat, extended wheelbase Model Y L.
The Megablock was also unveiled during the year, and the Supercharger Network grew by 18%. Over 1 million Powerwalls were also installed during the year, and the Cybertruck became the first EV truck to get both an IIHS Top Safety Pick+ award and an NHTSA 5-Star safety rating.
Cybercab production confirmed
Interestingly enough, Tesla also confirmed in its 2025 recap video that the production of the Cybercab has started. This bodes well for the vehicle, as it could result in the vehicle really being mass-produced in the first half of 2026. Elon Musk confirmed during the 2025 Annual Shareholder Meeting that Cybercab production should earnestly start around April 2026.
Musk has also noted that the Cybercab will be Tesla’s highest-volume vehicle yet, with the company aiming for an annual production rate of about 2 million units. “If you’ve seen the design of the Cybercab line, it doesn’t look like a normal car manufacturing line,” Musk said earlier this year. “It looks like a really high-speed consumer electronics line. In fact, the line will move so fast that actually people can’t even get close to it.”
News
Tesla Cybercab is changing the look of Austin’s roads, and it’s not even in production yet
Videos and photos showed the sleek, two-seat autonomous vehicles navigating traffic.
Even before entering production, Tesla’s Cybercab is already transforming the appearance of Austin’s streets, with multiple prototypes spotted testing in downtown areas recently.
Videos and photos showed the sleek, two-seat autonomous vehicles navigating traffic. Interestingly enough, the vehicles were equipped with temporary steering wheels and human safety drivers.
Recent Cybercab sightings
Over the weekend, enthusiasts captured footage of two Cybercabs driving together in central Austin, their futuristic silhouettes standing out amid regular traffic. While the vehicles featured temporary steering wheels and side mirrors for now, they retained their futuristic, production-intent exterior design.
Industry watcher Sawyer Merritt shared one of the vehicles’ videos, noting the increasing frequency of the autonomous two-seater’s sightings.
Previewing the autonomous future
Sightings of the Cybercab have been ramping in several key areas across the United States in recent weeks. Sightings include units at Apple’s Visitor Center in California, the Fremont factory test track, and in Austin’s streets.
The increased activity suggests that Tesla is in overdrive, validating the autonomous two-seater ahead of its planned volume production. Elon Musk confirmed at the 2025 Shareholder Meeting that manufacturing begins around April 2026 with ambitious targets, and during an All-Hands meeting earlier this year, Musk hinted that ultimately, Tesla’s factories should be able to produce one Cybercab every 10 seconds.
Elon Musk: Tesla Model Y is world’s best-selling car for 3rd year in a row
Tesla shares epic 2025 recap video, confirms start of Cybercab production
