The Little Town That Could

Driving west on Interstate 80 from Reno, the small town of Truckee looks drastically different than it did 20 years ago.

Truckee used to be a side trip for Lake Tahoe and Reno-bound recreation seekers, but has become a hot travel destination offering upscale shopping and dining. It's also become a mecca of second-home ownership for those with the bucks to buy in to the mountain lifestyle.

The large migration of second-home owners has landed Truckee on some very prestigious lists, such as the Wall Street Journal’s Most Expensive cities list in 2011.

Unfortunately, the higher home costs have resulted in higher paying jobs. In fact, the unemployment rate in Truckee is 11.50% (U.S. avg. is 9.10%). Recent job growth is down, last year Truckee jobs decreased by 1.33 percent. Currently, the unemployment rate in Reno is at 8.3%.

Interesting Facts about Truckee, California:

• As of 2011, Truckee's population is 16,856 people. Since 2000, it has had a population growth of 21.51 percent.
• The median home cost in Truckee is $497,700. Home appreciation the last year has been -3.64 percent.
• Compared to the rest of the country, Truckee's cost of living is 68.30% Higher than the U.S. average.

Like Reno, the town of Truckee's Downtown area is on the verge of a revival. What's next for Truckee? The residential and commercial development at the Truckee Railyard.

Mostly abandoned since a lumber mill closed in the 1980s, the 75-acre property just east of Historic Downtown could double the size of downtown once developed.

Rick Holiday, owner and founder of Holiday Development is planning the railyard, which he bought from Union Pacific Railroad, as a mix of housing, commercial and office space with all uses feeding off of one another.

The mix of uses and a high density should add vibrancy to the center of town, Holliday said.

"Our top priority is to be able to say that we contributed to making Truckee a better place," remarks Holiday. "Every developer says that, but this one is more important because we really do want to be involved in the community."

Ground has yet to be broken on the Truckee Railyard project, but when the time comes, Truckee locals can only hope that the new development brings economic growth to the area.