Lompa Ranch on the market for development

A 413-acre ranch in the heart of Carson City is on the market to a residential or commercial developer, a change that will alter the capital city's landscape and sustain the future economic health of the community, officials say.

The Lompa Ranch, owned by a longtime Carson City ranching family, was listed on a real estate Web site in August with an asking price of $76.6 million. Many sources believe it could go for higher. The ranch is the largest, undeveloped piece of land left in the city.

The ranch, off Fifth Street and Saliman Road, represents 65 percent of the total urban residential land still available in Carson City. Once sold, it will be a tax revenue generator for the city and a prime piece of land near the freeway.

When it does sell - and many are convinced it will soon - the development could be a high-quality residential and commercial centerpiece, city officials said Friday.

"How the Lompa property gets developed in the near and long-term future will dictate Carson City's sustainability, the long-term economic health of the community," said Joe McCarthy, economic development and redevelopment manager.

His claim has merit, since there isn't a lot of land left in Carson City, especially for a large master-planned community. Carson City Principal Planner Lee Plemel said about 1,100 acres are available for commercial/office/industrial development. About 6,700 vacant acres are available city wide for residential, of that, only about 630 acres are urban, which includes the Lompa land, according to a 2004 land capacity analysis.

"That's the last part of Carson City that had that feeling of Western lifestyle," said Bob Fredlund, an agent with Coldwell Banker Best Sellers in Carson City. "I'm going to miss seeing the cows out there."

Citizens decided in the new master plan, which was completed in April, that the Lompa land should be a master-community with mixed residential and commercial uses.

"We anticipated that the Lompa Ranch would eventually be developed, but it wasn't imminent," Plemel said. "We left it more flexibility because we knew someone would come in later and propose something for it. We didn't realize it would be so soon."

The sale listing has been kept quiet. Duana Lompa, the managing member of D & S L V LLC, which owns the property, declined to comment for this story. Commercial real estate broker John Uhart, the listing agent, did not return repeated calls for comment. Some local agents only recently became aware of the listing.

Eva Lompa, the family matriarch, died in July 2003 in the small house on the ranch. In her final years she vowed to keep the property as a working ranch. Her husband, Sam Lompa, bought the property in 1936. They raised dairy cows on the original 820-acre farm, according to Appeal records.

The property was converted into a cattle ranch in the early 1960s and is operated by Sam Lompa Jr.

The land has sold off slowly as Carson City has grown. Carson High School is on one corner of the original ranch land, which was donated by the Lompa family

City officials are vowing to work with the family and a potential buyer in transforming a major expanse of land that has been relatively unchanged since the 1930s.

Carson City Mayor Marv Teixeira said this property is a showpiece, located a few miles from the Capitol, and nearly bisected by the future Carson City Freeway, which will take motorists around the downtown core.

"This is the end of the hunt," Teixeira said Friday. "It's our last major piece of land and it's in the heart of our community."

The picturesque location and freeway access will be a boon for both residential and commercial, he said. The developer would have to have the bank roll.

"That's a lot of venture capital," the mayor said. "You've got to really believe in the community. It's a heck of a compliment that people are going to lay that much money on the line."

And the time in acquiring city approval and permits.

"We're talking two to four years until you can start developing," said Andie Wilson, commercial sales agent for Coldwell Banker Commercial Premier Brokers. "This is nothing that's going to be happening tomorrow. This is a huge change and the city isn't going to let anything happen that isn't good for the city and surrounding neighbors."

The buyer will have to develop a detailed plan of infrastructure, streets, lots, buildings and also work with the Nevada Department of Transportation on the freeway interchange and frontage roads, said Brad Bonkowski, commercial sales associate with Coldwell Banker Commercial Premier Brokers. The property includes a wetlands, which will require more planning with the city.

A Lompa Ranch development would be the end of an era. Some Carson City ranches come close to its size, but none to its location.

The Joost Land and Cattle Co. Ranch is about 368 acres, located in the Kings Canyon/Ash Canyon area. Also on the west side is the 128-acre Andersen Family Associates' ranch. The 395-acre Buzzy Andersen Ranch is located off Carson River Road. The city is seeking this ranch for open space.

Once the Lompa Ranch is no longer designated as agricultural - which carries with it certain property tax benefits - it will fuel the city with tax dollars. Assessor Dave Dawley said as soon as the property is rezoned it will be taxed at market value. The city would expect to collect about $295,000 the first year after it sells because of a tax law that allows municipalities to collect seven years of deferred taxes. In contrast, the ranch pays about $400 in property taxes now.

"Future tax revenue will be dependent on what the zoning is changed to and what is built on the acreage," he said.

The Lompa Ranch is listed on the Web site LoopNet as a "prime development opportunity." According to assessor records, the family corporation owns about 418 acres in south east Carson City.

• Contact reporter Becky Bosshart at bbosshart@nevadaappeal.com or 881-1212.