Ushering in a New Era of Revitalization – Madison Capital Group Becomes the Majority Owner, Manager and Developer of the Former Harrah’s Casino in Downtown Reno, Nevada
Marking the beginning of the single most transformative project of this century for downtown Reno, Madison Capital Group proudly announces its groundbreaking partnership with one of the Mountain West’s premiere developers, Ahlquist LLC (“Ahlquist”), in bringing a new mixed-use development to downtown Reno called, “Revival.”
On Friday, February 1, 2025, Madison Capital Group became the majority owner, manager, and developer of the former Harrah’s Casino located in the heart of downtown Reno. This landmark acquisition marks the dawn of a new era for the iconic Harrah’s property.
Revival’s phased development will include a full re-design of three separate towers and will include 300 market rate residential apartments, corporate housing, a re-invigorated hotel concept, and Class-A office space, as well as retail, restaurant and grocery spaces integrated into a ground-level outdoor plaza. As a flagship tenant, Las Vegas-based Fine Entertainment will open TheGeorge, ensuring a vibrant, multi-use district that will serve as the center point for connection in the community, all within footsteps of the legendary Reno Arch.
“We are excited to kick off Revival, a transformative project that honors the rich history of the Harrah’s property while looking toward the future. Breathing new life into this cornerstone property will play a key role in the continued revitalization of downtown Reno, further establishing it as a top city to live, work, and visit.” said Ryan Hanks, Founder and CEO of Madison Capital Group.
Tommy Ahlquist, President and CEO of Boise-based Ahlquist, added:
“Partnering with Ryan Hanks and his team on this historic project is a once- in-a-career opportunity. The former Harrah’s property holds tremendous potential to become a central hub to the downtown corridor. In many ways, Reno’s downtown is similar to Boise, so we know what this project means to the community. We’ve been working tirelessly on this project and are excited to continue as the co-developer, operations manager, and property manager for Revival.
This mixed-use development will be led locally by visionary and development partner Brianna Bullentini. Born and raised in Reno, Brianna understands full-well the significance of this mixed-use development. Brianna shares, “The project promises economic growth, attracting residents, businesses, and jobs. This isn’t just redevelopment—it’s about reimagining Reno’s soul,” she said. “We’re creating a critical mass destination where culture, commerce, and connection thrive. Turning blight into vibrancy—the energy is infectious, and we’re proud to help fuel Reno’s resurgence.”
For more information, contact:
For Information, Madison Capital Group – Thornton Kennedy: (404) 210-0363
Local Reno Contact – Brianna Bullentini: (775) 848-2248
For Leasing, Ahlquist Development: Mark Cleverley: (208) 850-6113
About Madison Capital Group: Madison Capital Group, headquartered in Charlotte, N.C., is a vertically integrated real estate investment firm committed to empowering growth, one investment at a time. The company’s portfolio includes a diverse range of companies – Go Store It Self-Storage, Madison Communities, Madison Commercial, BenCo Construction, and Madison Capital Markets Group – that collaborate to create value across multifamily, self-storage, and commercial sectors. Focused on long-term growth and community impact, Madison Capital Group strives to deliver exceptional results. For more information, visit madisoncapgroup.com.
About Ahlquist: AHLQUIST is a full-service development firm ready to meet clients where they are in the building process. From leasing and architecture to construction, operations management and property management, AHLQUIST’s dedicated teams guide our clients through every step of the development process. With more than 3.5 million square feet developed and a total value north of $1.6 Billion, AHLQUIST has shattered expectations while continuing to grow and expand.
AHLQUIST projects specialize in oPice, retail, hospitality, residential, flex, medical, and industrial spaces. Notable projects that have revitalized Boise and the surrounding Treasure Valley include 4th and Idaho, Eagle View Landing, home of Idaho’s first TopGolf, Ten Mile Crossing, Pioneer Crossing, Eighth and Main, City Center Plaza, and dozens of other sites and buildings. You can learn more about AHLQUIST by visiting www.ahlquistdev.com.
