The Boulder Bay project to redevelop the Tahoe Biltmore property at the North Tahoe State Line was approved by the Tahoe Regional Planning Agency in April 2011. Work may start as early as this May. Following the approval, Boulder Bay LLC made a concerted effort to secure financing in order to begin the project. However, in the aftermath of the Great Recession, banks were reluctant to lend large amounts of capital. Most recently, the company secured financing from an undisclosed private equity firm.
When the TRPA approved the project, it was split into two phases. The first was a comprehensive water quality improvement project. It is only after the final inspection of that part of the project by the TRPA that the agency will authorize the second phase which encompasses the remainder of the project. The project will consist of eight structures supporting a mix of uses: gaming, residential units, 300-room hotel and combined commercial of approximately 20,000 square feet. Casino space will be reduced from 30,000 square feet to about 10,000.
The focus of the resort will be more on health, wellness and relaxation, and will include an approximate 20,000 square foot health and wellness center, a 10,000 square foot fitness center and related amenities. CEO Roger Wittenberg expressed his belief that a new demographic of visitors was visiting the area now with much less emphasis on gaming and more on hiking, biking and other recreational activities as well as the natural beauty of Lake Tahoe. Wittenberg said, “We have to create an experience that is refreshing and unique enough that people don’t confuse it with anything else.”
For very detailed information about this project, click on the Sierra Sun link to read its story, “Lake Tahoe’s Boulder Bay development gets cash needed to move forward.”
Leave a Reply