Plans outlined for Cal Neva Resort at Tahoe
CRYSTAL BAY, Nev. (AP) – The new owners of the Cal Neva Resort & Spa on Lake Tahoe’s north shore said they’ve received hundreds of inquiries from potential investors about the hotel-condominium project.
Owners plan to convert the nine-story hotel’s 219 rooms into 139 condominiums of various size that investors will buy but occupy only part of the year.
Hotel owners began soliciting e-mails from interested buyers on its Web site in January but didn’t announce the plans publicly until last week.
“People look at it as an investment,” said Steve Tremewan, sales and marketing director for Cal Neva. “From the Bay area, Michigan, Texas, Truckee, you name it, I’ve seen it. Interest is from all over.”
The Cal Neva straddles the Nevada-California line, so several government approvals are needed. Pending those, the units could be ready by 2008, Tremewan said.
The hotel-casino needs the money from selling hotel-condominiums for upgrades and conversion, according to the plans filed in Placer County, Calif.
The plans are designed to minimize environmental impact, Tremewan said. Previous owner Chuck Bluth leases and runs the casino.
He struggled with government approvals for development and abruptly sold the property last year.
The project would include redesigning the exterior, building small peaks at the top of each column of windows and a more cabin-like roof and facader.
The plans also call for moving 19 cabin units from the Nevada side to California, where they’ll be condensed into three buildings. The famous Frank Sinatra and Marilyn Monroe cabins would be moved and maintained as historic landmarks, Tremewan said.
Twelve affordable housing units for employees also are in the plans.
A cogeneration plant would use warmed water from the laundry facility piped underground to melt snow around the building, “instead of a snow-melt system that would waste a lot of energy,” Tremewan said.
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