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Multi-family Homes Making its Mark at the Tesla Gigafactory

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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!!

Reno-Gigafactory-Home-Prices

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.

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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.

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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

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Elon Musk

Elon Musk hints Tesla investors will be rewarded heavily

“Hold onto your Tesla stock. It’s going to be worth a lot, I think. That’s my bet,” Musk said.

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Credit: Grok

Elon Musk recently hinted that he believes Tesla investors will be rewarded heavily if they continue to hold onto their shares, and he reiterated that in a new interview that the company released on its social accounts this week.

Musk is one of the most successful CEOs in the modern era and has mammothed competitors on the Forbes Net Worth List over the past year as his holdings in his various companies have continued to swell.

Tesla investors, especially those who have been holding shares for several years, have also felt substantial gains in their portfolios. Over the past five years, the stock is up over 78 percent. Since February 2019, nearly seven years ago to the day, the stock is up over 1,800 percent.

Musk said in the interview:

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“Hold onto your Tesla stock. It’s going to be worth a lot, I think. That’s my bet.”

It’s no secret Musk has been extremely bullish on his own companies, but Tesla in particular, because it is publicly traded.

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However, the company has so many amazing projects that have an opportunity to revolutionize their respective industries. There is certainly a path to major growth on Wall Street for Tesla through its various future projects, including Optimus, Cybercab, Semi, and Unsupervised FSD.

  • Optimus (Tesla’s humanoid robot): Musk has discussed its potential for tasks like childcare, walking dogs, or assisting elderly parents, positioning it as a massive long-term driver of company value.
  • Cybercab (Tesla’s robotaxi/autonomous ride-hailing vehicle): a fully autonomous vehicle geared specifically for Tesla’s ride-sharing ambitions.
  • Semi (Tesla’s electric truck, with mentions of expansion, like in Europe): brings Tesla into the commercial logistics sector.
  • Unsupervised FSD (Full Self-Driving software achieving full autonomy without human supervision): turns every Tesla owner’s vehicle into a fully-autonomous vehicle upon release

These projects specifically are some of the highest-growth pillars Tesla has ever attempted to develop, especially in Musk’s eyes, as he has said Optimus will be the best-selling product of all-time.

Many analysts agree, but the bullish ones, like Cathie Wood of ARK Invest, are perhaps the one who believes Tesla has incredible potential on Wall Street, predicting a $2,600 price target for 2030, but this is not even including Optimus.

She told Bloomberg last March that she believes that the project will present a potential additive if Tesla can scale faster than anticipated.

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Cybertruck

Tesla drops latest hint that new Cybertruck trim is selling like hotcakes

According to Tesla’s Online Design Studio, the new All-Wheel-Drive Cybertruck will now be delivered in April 2027. Earlier orders are still slated for early this Summer, but orders from here on forward are now officially pushed into next year:

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(Credit: Tesla)

Tesla’s new Cybertruck offering has had its delivery date pushed back once again. This is now the second time, and deliveries for the newest orders are now pushed well into 2027.

According to Tesla’s Online Design Studio, the new All-Wheel-Drive Cybertruck will now be delivered in April 2027. Earlier orders are still slated for early this Summer, but orders from here on forward are now officially pushed into next year:

Just three days ago, the initial delivery date of June 2026 was pushed back to early Fall, and now, that date has officially moved to April 2027.

The fact that Tesla has had to push back deliveries once again proves one of two things: either Tesla has slow production plans for the new Cybertruck trim, or demand is off the charts.

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Judging by how Tesla is already planning to raise the price based on demand in just a few days, it seems like the company knows it is giving a tremendous deal on this spec of Cybertruck, and units are moving quickly.

That points more toward demand and not necessarily to slower production plans, but it is not confirmed.

Tesla Cybertruck’s newest trim will undergo massive change in ten days, Musk says

Tesla is set to hike the price on March 1, so tomorrow will be the final day to grab the new Cybertruck trim for just $59,990.

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It features:

  • Dual Motor AWD w/ est. 325 mi of range
  • Powered tonneau cover
  • Bed outlets (2x 120V + 1x 240V) & Powershare capability
  • Coil springs w/ adaptive damping
  • Heated first-row seats w/ textile material that is easy to clean
  • Steer-by-wire & Four Wheel Steering
  • 6’ x 4’ composite bed
  • Towing capacity of up to 7,500 lbs
  • Powered frunk

Interestingly, the price offering is fairly close to what Tesla unveiled back in late 2019.

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Elon Musk

Elon Musk outlines plan for first Starship tower catch attempt

Musk confirmed that Starship V3 Ship 1 (SN1) is headed for ground tests and expressed strong confidence in the updated vehicle design.

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Credit: SpaceX/X

Elon Musk has clarified when SpaceX will first attempt to catch Starship’s upper stage with its launch tower. The CEO’s update provides the clearest teaser yet for the spacecraft’s recovery roadmap.

Musk shared the details in recent posts on X. In his initial post, Musk confirmed that Starship V3 Ship 1 (SN1) is headed for ground tests and expressed strong confidence in the updated vehicle design.

“Starship V3 SN1 headed for ground tests. I am highly confident that the V3 design will achieve full reusability,” Musk wrote.

In a follow-up post, Musk addressed when SpaceX would attempt to catch the upper stage using the launch tower’s robotic arms. 

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“Should note that SpaceX will only try to catch the ship with the tower after two perfect soft landings in the ocean. The risk of the ship breaking up over land needs to be very low,” Musk clarified. 

His remarks suggest that SpaceX is deliberately reducing risk before attempting a tower catch of Starship’s upper stage. Such a milestone would mark a major step towards the full reuse of the Starship system.

SpaceX is currently targeting the first Starship V3 flight of 2026 this coming March. The spacecraft’s V3 iteration is widely viewed as a key milestone in SpaceX’s long-term strategy to make Starship fully reusable. 

Starship V3 features a number of key upgrades over its previous iterations. The vehicle is equipped with SpaceX’s Raptor V3 engines, which are designed to deliver significantly higher thrust than earlier versions while reducing cost and weight. 

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The V3 design is also expected to be optimized for manufacturability, a critical step if SpaceX intends to scale the spacecraft’s production toward frequent launches for Starlink, lunar missions, and eventually Mars. 

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