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Provided to the Tahoe Daily Tribune. The proposed convention center-hotel as it would appear from Highway 50.
A change of plans - Marriott Ownership Resorts representatives are expected to tell the South Lake Tahoe Redevelopment Agency today that it wants to pass off its obligation to build the city's convention center complex to a Carson City development company led by Randy Lane and John Serpa, who want to replace the proposed time share project with condominiums. Their company will operate as the Lake Tahoe Development Company.
"The Marriott supports the transition to Falcon Capital (Lane's company), and Marriott has a continued interest in the project as it metamorphosizes, but no, their names won't be on it," South Shore attorney Lew Feldman said late Monday afternoon. Feldman has represented both Lane and Marriott on projects here.
Lane is known for developing the Sierra Shores time share project at Highway 50 and Takela Drive, among other projects. Serpa spearheaded the Indian Hills housing plan on the north end of Douglas County.
"The Marriott supports the transition to Falcon Capital (Lane's company), and Marriott has a continued interest in the project as it metamorphosizes, but no, their names won't be on it," South Shore attorney Lew Feldman said late Monday afternoon. Feldman has represented both Lane and Marriott on projects here.
Lane is known for developing the Sierra Shores time share project at Highway 50 and Takela Drive, among other projects. Serpa spearheaded the Indian Hills housing plan on the north end of Douglas County.
The partnership may also enlist the sales and marketing assistance of Intrawest Corporation, a development giant with projects at Mammoth and Squaw Valley under its belt.
Lane and Serpa have also called on a Vancouver company, Hospitality Evaluation Services, to perform consulting work on the project that would fall between Highway 50, Cedar, Friday and Poplar avenues.
At this point, the 16-acre project has turned into a $325 million venture that would be paid for by a loan backed by the city. The developer would carry the note during the construction phase.
Lane and Serpa have also called on a Vancouver company, Hospitality Evaluation Services, to perform consulting work on the project that would fall between Highway 50, Cedar, Friday and Poplar avenues.
At this point, the 16-acre project has turned into a $325 million venture that would be paid for by a loan backed by the city. The developer would carry the note during the construction phase.
The project currently proposed would include a 300,000-square-foot condominium complex with 200,000 square feet of convention space. Feldman equated the project to the Four Seasons in Whistler. The plan on the table now has no fractional ownership units in the residential condos - but there is a clause that requires restricted use so the city may collect transient occupancy tax from visitors. The individual condo owners would pay property tax.
City Manager Dave Jinkens, who serves the project as the Redevelopment Agency's executive director, said he's optimistic about the direction of the project. He was hearing about the same intention by Marriott and partners.
The changing nature of the project, including the omission of a traditional hotel, requires the agency to solicit responses from the 30-plus property owners in the area.
City Manager Dave Jinkens, who serves the project as the Redevelopment Agency's executive director, said he's optimistic about the direction of the project. He was hearing about the same intention by Marriott and partners.
The changing nature of the project, including the omission of a traditional hotel, requires the agency to solicit responses from the 30-plus property owners in the area.
Its exclusive negotiating agreement with Marriott will expire Oct. 7.
If the property owners view the proposal favorably and the plan meets California redevelopment law requirements, Jinkens expects the city may have a development agreement by December.
The convention center project has undergone a slew of extensions and changed hands with Harveys Resort Casino, Harrah's Lake Tahoe and Marriott.
If the property owners view the proposal favorably and the plan meets California redevelopment law requirements, Jinkens expects the city may have a development agreement by December.
The convention center project has undergone a slew of extensions and changed hands with Harveys Resort Casino, Harrah's Lake Tahoe and Marriott.
