Construction of multi-million, lakefront units to start in May
Lakefront duplexes priced in the millions of dollars are expected to sell long before they get built in South Lake Tahoe.
Demolition to make way for Sierra Shores, eight town homes to be built in a horseshoe-shape on three acres across from Takela Drive, is scheduled to begin May 1.
With lakefront property rare at Tahoe – and the fact that there has been so much interest in the project already – the sales director for the project is confident that all of the units will be sold by the end of June.
“We’ve seen quite a strong response since we put the word out about two weeks ago,” said Corinne Huntress, a sales director for Playground Destination Properties.
Construction of the three-story town homes is scheduled to be finished by December 2005 and cost $40 million. Each building will have two units: a three-bedroom/three-bathroom unit downstairs, and four-bedroom/four-bathroom unit upstairs.
The three-bedroom units will be priced around $2 million. The four-bedroom units will go for around $3 million. Quarter share ownership is also available. A quarter share of a three-bedroom unit will cost about $550,000, Huntress said.
Sierra Shores will be a gated complex, have a pool, garage and access to a 310-foot stretch of beach. A public bike trail will constructed around the complex and run to the beach between Sierra Shores and Best Western Timbercove Lodge.
Five buildings stand on the property today. One will remain for a short time and will be used as a sales center. An open house for invited guests is scheduled June 26.
Falcon Capital, a development company based at Round Hill, is building Sierra Shores.
– Gregory Crofton can be reached at (530) 542-8045 or by e-mail at firstname.lastname@example.org