Fernley’s next phase of growth is already taking shape at the Victory District, where Mark IV Capital is investing hundreds of millions of dollars in roads, utilities, power generation, workforce development and land preparation intended to support major industrial, technology and residential development.
Rick Nelson, senior vice president of Northern Nevada for Mark IV Capital, recently joined Nevada Newsmakers host Sam Shad to discuss the project’s expanding scope and what it could mean for Fernley, Lyon County and Northern Nevada.
Nelson described Victory as a 4,700-acre development with room to expand, supported by infrastructure that is being installed before many of the future businesses arrive.
“We’re bringing in power. We have water. We’re rebuilding the Nevada Pacific Parkway, we’re putting a bridge over the Union Pacific Railroad, and we’re laying out all of this buildable land,” Nelson said.
That strategy is central to Mark IV’s approach. Rather than asking companies to wait years for roads, utilities and other improvements, the company is installing much of the infrastructure in advance.
Along approximately 4½ miles of roadway, future users will have access to water, sewer, storm drainage, telecommunications, natural gas, electricity and fiber at the curb. That allows businesses to connect directly to existing infrastructure rather than extending services across undeveloped land.
Nelson said the site’s relatively flat terrain also gives Victory an advantage. Much of the property sits on an ancient lakebed, reducing the amount of rock removal and grading required before construction can begin.
“When a business comes in and looks at its cost to build, it is more economical for them to do that,” he said.
Mark IV expects to invest more than $400 million in infrastructure over the next five years, Nelson said. Private investment by companies locating in the district could reach into the billions of dollars, particularly as data center and advanced manufacturing projects move forward.
Microsoft has already purchased a large portion of the property and is working through its master-planning process. Nelson said two other major developers were also evaluating property at Victory at the time of the interview.
Those projects could become important milestones for the district, he said, demonstrating that the infrastructure and land are ready for development and helping attract additional businesses.
Victory is also evolving beyond its original identity as a logistics park. Nelson said Mark IV is considering shortening the name from Victory Logistics District to simply Victory, with separate areas dedicated to logistics, innovation, advanced manufacturing and retail.
Transportation improvements are another major part of the plan.
Mark IV is rebuilding Nevada Pacific Parkway to create a stronger connection between Interstate 80 and U.S. Highway 50A. The roadway is being designed as a six-lane corridor and will include a bridge over the Union Pacific Railroad tracks.
Nelson said Mark IV has been coordinating with the Nevada Department of Transportation throughout the design process so the road can eventually be dedicated to the state.
The company is also developing rail infrastructure beneath the future bridge.
The road project is expected to take approximately 18 months once construction begins.
Power availability may be one of the most important elements of Victory’s long-term development.
Nelson said Mark IV is working toward creation of its own power district and plans to develop a 1.8-gigawatt natural gas generation facility. The company is also evaluating geothermal and solar resources and could consider small modular nuclear reactors if they become available in Nevada.
A natural gas pipeline is being developed with Great Basin Gas Transmission Co., with completion anticipated in late 2028, according to Nelson.
The proposed power district would provide large industrial users with a more predictable source of electricity while creating franchise-fee revenue for the City of Fernley.
“We’re going to build our own power with our own district and our own generation,” Nelson said.
Workforce development is advancing alongside the physical infrastructure.
Mark IV has partnered with Western Nevada College to support vocational training in fields such as electrical work, heating and air conditioning, welding and commercial driving. Nelson said the training programs can also be tailored to the needs of specific companies locating in the district.
That workforce will be needed not only for construction but also for the long-term operation and maintenance of the businesses expected to locate at Victory.
“The construction alone is three or four years,” Nelson said. “Those jobs are actually going to continue” as additional projects are developed.
Mark IV’s plans extend north of Interstate 80, where the company is designing a large master-planned community Nelson referred to as North Fernley.
The long-term concept calls for housing for approximately 25,000 people, along with schools, parks, civic areas, retail development, medical facilities and other services. Nelson said Mark IV is working with the Lyon County School District on planning for a high school and additional schools.
“We plan to double the size of Fernley,” Nelson said.
Water will remain one of the most significant constraints on that growth.
Nelson said the city has enough water to begin development, but long-term expansion will require additional conservation, treatment and reuse. Mark IV is exploring systems that could combine groundwater, surface water and highly treated effluent, allowing millions of gallons per day to be returned to the system for reuse.
Nelson emphasized that the project is a long-term undertaking rather than a short development cycle.
Mark IV intends to remain involved in Fernley for decades as the industrial district, transportation network and residential areas are built out.
“This is the 25-year vision,” he said. “We’re not leaving Fernley.”
For the city, the project could bring construction activity, jobs, utility franchise fees, permit revenue, property taxes and broader commercial growth. It could also bring significant pressure on roads, schools, water systems and other public services.
Nelson said the city is now at a point where it must prepare for rapid growth and make deliberate decisions about infrastructure, civic facilities and future development.
“They’re on the cusp of moving forward in a rapid way,” he said.
The full Nevada Newsmakers interview is available through the program’s online and YouTube platforms.
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