The “New Tahoe” Realized: Vacation Homebuyers Purchase $20 Million in Real Estate at First Offering of Chateau at Heavenly Village (United States)
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The “New Tahoe” Realized: Vacation Homebuyers Purchase $20 Million in Real Estate at First Offering of Chateau at Heavenly Village (United States)
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Category: North America & West Indies / Carribean islands - United States - Industry economy
- Hotel projects
This is a press release selected by our editorial committee and published online for free on 2008-03-28
Vacation Home Buyers On-Board for Early Opportunity at South Lake Tahoe
Vacation home buyers have purchased more than $20 million of luxury real estate for The Chateau at Heavenly Village, a major hotel-condominium project under construction in South Lake Tahoe, Calif.
Prices for the luxuriously furnished studio, one, two and three bedroom hotel-condominiums started at $500,000 and topped out at more than $3.4 million. This highly anticipated Lake Tahoe real estate offering broke new ground in many areas and has already exceeded the 2007 total volume of home and condo sales in all of South Lake Tahoe. Units sold in excess of $1,300 per square-foot, which established a Tahoe area benchmark and exceeds prices in most mountain resort communities. The project’s popularity among second-home owners is refreshing news for the real estate industry at Lake Tahoe.
The Chateau at Heavenly Village’s location: across the street from the gondola at Heavenly Mountain Resort, the casinos at Stateline, Nev., and a short walk from the beach at Lake Tahoe, incorporates the many outdoor recreational and indoor entertainment attractions that make Lake Tahoe a national and natural landmark.
“The Chateau at Heavenly Village will provide an opportunity for people who love South Lake Tahoe to make their favorite resort their home,” said Kevin Lane of Lake Tahoe Development Company. “It’s a whole new level of luxury and services, and our sales to date demonstrate that real estate buyers are eager to become part of the new Tahoe experience.”
Construction began last summer with an anticipated completion date of fall/winter 2009. After completing the excavation and foundation phase ahead of its winter schedule in late December, The Chateau at Heavenly Village anticipates vertical construction to commence this spring. The Preview Center is open and located directly across from the Heavenly Gondola and is open daily from 9am-6pm or by appointment.
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