Time-share developer to ask city for more Ski Run units
The South Tahoe Redevelopment Agency will dust off an old proposal today for further time-share development at the corner of Ski Run Boulevard and Highway 50, a busy intersection in town.
It needs to re-negotiate a 1995 development agreement with Sunterra Corporation to build the Las Vegas company’s next two phases amounting to 64 units at Embassy Vacation Resort. While Hilton Hotels manages the resort, Sunterra owns the unsold inventory and the property’s development rights. Sunterra manages 314,000 owner facilities in the United States, Canada, Europe, the Caribbean and Mexico.
Since 2002, Sunterra has reorganized and emerged from bankruptcy, but all of its pertinent city permits and Tahoe Regional Planning Agency approvals have expired.
The company had intended to start construction on the $10 million project in May 2003. The city reported the company recently had sent a $25,000 check “in good faith.” Company counsel Todd Davis will address the agency today.
“We’re excited to move forward with this development. We feel it’s time to move forward,” Davis said Monday.
Agency representatives said the developer intends to break ground by this August, but an anticipated drawn-out re-permitting process may make the deadline ambitious, the city reported.
“They’re going to need to start by May 1, 2007,” Redevelopment Manager Gene Palazzo said.
The parties are trying to come to some form of agreement. Otherwise, the city’s Redevelopment Agency could legally push for taking back the property it turned over to Sunterra where Phase 5 is expected to go across Highway 50. Most of the 142 units have been sold, and there’s definitely a need for more, Embassy Vacation Resort General Manager Jeff Schwarz said, while surveying the site of Phase 4.
The Phase 4 proposal initially called for the construction of 40 units on a laid footprint behind the building.
Phase 5 calls for 24 units and 13,000 square feet of retail space. But this could change, Davis indicated.
“We’re discussing options with our architect,” he said.
What: South Tahoe Redevelopment Agency
When: 9 a.m. today
Where: Council chambers, 1900 Lake Tahoe Blvd., South Lake Tahoe
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