Low-cost housing, time share development nearing approval
An ambitious Douglas County project is about to move forward. It will include building a 138-unit time share in Round Hill, demolishing the Lake Park Apartments on Kahle Drive, building stormwater retention basins at that location and building an affordable housing complex on Kingsbury Grade.
With approval of the Governing Board of the Tahoe Regional Planning Agency this week, construction on parts of the project likely would start this year.
“The benefit we see environmentally in the project is that (the stormwater basins) will pick up all the drainage from the Kingsbury area and treat the water before it goes into the lake,” said Jim Baetge, TRPA executive director. “It also is a chance to get true affordable housing in Douglas County.”
Falcon Capital LLC, which owns several commercial and residential properties on the lake side of Douglas County, plans to build the Round Hill time share near the intersection of U.S. Highway 50 and Elks Point Road. The Round Hill Vacation Resort will include 17 two- and three-story buildings with 66 single-bedroom and 72 two-bedroom units as well as a building for checking in, laundry, maintenance facilities and a gift shop.
To build the project, Falcon Capital has had to swap excess tourist accommodation units from the Kingsbury area for the Round Hill area. Additionally, the project’s proponent plans to demolish the 187-unit Lake Park Apartments for the stormwater treatment basins.
“It’s a really terrific water-quality opportunity,” said Lew Feldman, representative of the company. “The whole Kahle area is stream zone. We will be getting back to a much more natural condition.”
To offset the lost housing units, Falcon Capital will be building a 67-unit affordable housing complex on Market Street, adjacent to Kingsbury Grade.
Feldman said the proponent plans to demolish the building in phases over a two-year period, in order to minimize the impacts to the families.
Construction on the affordable housing complex and Round Hill Vacation Resort could begin as early as this summer, as well as some of the demolition at Lake Park Apartments. Construction of the stormwater basins, which has to wait until all of the apartment complex has been demolished, will not begin for two more building seasons.
Feldman said it was hard to estimate the project’s total cost, but it will far exceed $10 million.
What: Meeting of the Governing Board of the Tahoe Regional Planning Agency
When: March 24, 9:30 a.m.
Where: North Tahoe Conference Center, 8318 North Lake Blvd., Kings Beach
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