SOUTH LAKE TAHOE, CA –Kidder Mathews, as exclusive agent for the Seller, has just brought to market a rare opportunity to acquire The Chateau at the Village, an 11.5-acre retail and large-scale fully entitled residential development site in the heart of South Lake Tahoe, California. Chateau at Lake Tahoe.com. The Chateau is directly across the street from the world class Heavenly Mountain Resort, Gondola and its retail and dining amenities. The Chateau at the Village consists of a newly built and occupied mountain facing retail center (23,000 RSF) and fully entitled development rights to 477 residential or hospitality units. The Chateau will be the only newly constructed whole-ownership project at the Village at Heavenly.
Kidder’s Benjamin Pollock stated “Entitlements for projects in the Lake Tahoe Basin are extremely difficult to obtain and are extraordinarily valuable once achieved. Due to the strong oversight and authority of the local planning agency, zoning and entitlement restrictions, and lack of available sites it would be virtually impossible to replicate the Chateau opportunity”.
“With all discretionary entitlements and infrastructure improvements in place, the successful bidder will be able to commence additional vertical construction quickly. Build out of the remainder of the project can be implemented in one or more phases”, reported Kidder’s Jeffrey Hutchins.
Kidder’s David Wientjes said “buyer interest is strong, primarily from private-equity firms, offshore groups, opportunity funds and high-net-worth individuals, who are responding to Tahoe’s proximity to the Bay Area, its year round destination and the diversity of the area investment such as Tesla’s Massive $5 Billion GigaFactory Battery Plant.
Kidder Mathews is one of the largest, independent commercial real estate firms on the West Coast, with over 500 real estate professionals and staff in 10 offices in Washington, Oregon, and California. Kidder Mathews.com