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Commercial Real Estate | March 11 - April 7, 2016

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Ferrari Crown Motel Property in Escrow

San Francisco-based Laulima Partners is scheduled to close escrow on the Ferrari Crown Motel in Kings Beach on April 21. Their vision is to “create an exceptional resort that honors the 70-year history of the Ferrari family legacy at the Crown Motel that complements community planning efforts and reinvigorates the entire town,” according to the project overview.

The project is in the preliminary phase, according to the developer, but some ideas for mixed-use development at the site include improving and maintaining the 92 current hotel rooms, adding condo residences, street front restaurants, and retail, and possible event and conference facility offerings. Laulima would continue operation of the current Crown Motel as is for more than two years. A project application would be submitted to the Tahoe Regional Planning Agency and Placer County, and workshops would be held to gather community input.

Additionally, Laulima has expressed interest in creating a public/private partnership with the North Tahoe Public Utility District to substantially renovate North Tahoe Event Center in Kings Beach. While a formal proposal will not be submitted to the district until the end of March, Laulima Partners Managing Partner David Bouquillon said he envisions replacing the existing structure and building a two-story, 28,000-square-foot “world class event center” that would draw visitors from across the West and include a restaurant. Laulima would bear the brunt of all building, operating, and maintenance costs, and pay rent to the NTPUD, as well as market the event center and cover all losses. Bouquillon said the Ferrari Motel project is not contingent on the event center partnership, but did say if the deal does not happen with the NTPUD, then the hotel project will include event space.

“It’s going to maintain hospitality, food, and beverage,” Bouquillon said of the Ferrari project. “A lot of it is determined on the events center.”

The Ferrari Motel has a long history in Kings Beach, and has been in the same family since 1949, when the grandparents of Dave Ferrari, who currently owns and operates the motel, bought the property.

“This is an exciting time and a sad time,” Ferrari said. “Our whole life is there.”

Info: laulimadevelopment.com


Tahoe City Lodge Update

The Tahoe City Lodge project is a proposed 120-unit hotel on 3.1 acres that would redevelop the existing Henrickson commercial complex into a mix of hotel rooms and 1-and 2-bedroom suites, hotel amenities, and parking. It would also include redevelopment of the existing clubhouse building and new shared-use parking at the Tahoe City Golf Course, which is owned by the Tahoe City Public Utility District. The draft environmental impact report for the project is due out late spring, according to Steve Buelna, Placer County supervising planner.  The Tahoe City Lodge pilot project is part of Placer County’s Tahoe Area Basin Plan.

Samir Tuma with Palo Alto-based Kila Tahoe LLC is the developer of the Tahoe City Lodge. He is in talks with the Tahoe City Golf Course to try to integrate their businesses. Ogilvy Consulting, Kila Tahoe LLC, and TCPUD are the project applicants, according to Buelna.

“It is evolving as time goes on,” Buelna said of the project. “There will be opportunity for plenty of public comments.”

Info: placer.ca.gov

~ Kara Fox/Moonshine Ink

 
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