South Lake Tahoe, California, August 14, 2025
News Summary
Gantry arranged an $11.75 million construction loan to build 14 for-sale townhomes at 3708 Lake Tahoe Blvd and 3709 Osgood Ave in South Lake Tahoe. Construction is underway on the combined 0.72-acre site, backed by an 18-month financing package that required no pre-sales. Gantry’s Los Angeles and San Francisco teams represented a private real estate investor, navigating underwriting challenges tied to resort seasonality and a recent land-basis increase from zoning adjustments. With funding secured, the project will move into core construction and site improvements, while final sales timing will depend on market conditions.
Gantry Arranges $11.75M Construction Loan for 14 For-Sale Townhomes in South Lake Tahoe
What happened: A construction loan of $11.75 million has been arranged to build 14 for-sale townhomes at 3708 Lake Tahoe Blvd and 3709 Osgood Ave in South Lake Tahoe. Construction is now underway on the site, which sits on two parcels totaling 0.72 acres.
Top facts at a glance
The project, currently called South Lake Tahoe Townhomes, fronts Lake Tahoe Boulevard and is within walking distance of the lake, nearby Stateline casinos, and other local amenities. The loan was closed for an 18-month term and was placed through a group of lenders that specialize in construction financing. The borrower is a private real estate investor.
Why this matters
The deal puts new for-sale housing on a small, centrally located parcel in a resort town where homes often serve both full-time residents and part-time visitors. The location along the city’s main road makes the site appealing to buyers who want quick access to shoreline parks, casinos, ski areas, restaurants, and other services.
How the financing was arranged
The lender for this transaction was identified after a broad review of construction financing sources. Lenders that focus on short-term construction loans were considered, and one was selected that could provide capital quickly without requiring pre-sale commitments from the developer. The loan came from a roster of lenders available through the arranger, which is the largest independent commercial mortgage banking firm in the U.S.
Underwriting challenges and how they were handled
Underwriting the loan required extra attention because the property is located in a seasonal resort market and recent zoning adjustments increased the project’s land basis. These two factors affected both projected cash flow and costs, so underwriters ran detailed reviews of seasonality, demand patterns, and revised land cost assumptions. After that review, the financing partner was confident in lending on a for-sale product with no pre-sale requirement.
Who represented the borrower
The financing was arranged by a team that worked out of production offices in Los Angeles and San Francisco. The team included a senior director, a principal, and an associate, who collectively represented the private investor that is developing the townhomes.
Project status and next steps
Groundwork and construction activities have started. With an 18-month financing window in place, the developer plans to move forward with vertical construction and basic site improvements. No public timetable for sales launches or unit pricing has been released yet.
Local context
The townhome site occupies a small footprint but benefits from a central position along the city’s main arterial. Its proximity to the shoreline and to entertainment and recreation venues makes it a likely candidate for buyers who want resort-style living or a rental option for vacation stays. The for-sale nature of the project differentiates it from the many short-term rental and condo offerings in the market.
What is not yet known
Details that remain unconfirmed publicly include unit mix and square footage per unit, pricing ranges, parking plans, and an exact completion date. The developer and lender have not announced any required pre-sales for the loan.
Takeaway
The financing closes a key gap for a small for-sale residential project in a busy resort community. By lining up short-term construction capital without pre-sale conditions, the borrower can begin building now while monitoring market demand for completed units.
FAQ
How much is the construction loan?
The construction loan is $11.75 million.
How many homes will be built?
The development will include 14 for-sale townhomes.
Where is the project located?
The project is located at 3708 Lake Tahoe Blvd and 3709 Osgood Ave in South Lake Tahoe and sits on 0.72 acres.
Is construction already in progress?
Yes. Construction is currently underway on the site.
Who is the borrower?
The borrower is a private real estate investor represented by a financing team working from the arranger’s Los Angeles and San Francisco production offices.
Are pre-sales required to get the loan?
No. The lender provided the loan without requiring pre-sale commitments.
How long is the loan term?
The loan term is 18 months.
What challenges were considered in underwriting?
Underwriting took into account the seasonality of demand in a resort market and a recent increase in the project’s land cost due to zoning changes. These factors affected projected revenue and required careful review.
Key project features
| Feature | Detail |
|---|---|
| Loan amount | $11.75 million |
| Loan term | 18 months |
| Units | 14 for-sale townhomes |
| Site addresses | 3708 Lake Tahoe Blvd; 3709 Osgood Ave |
| Parcel size | 0.72 acres (two parcels) |
| Project name | South Lake Tahoe Townhomes |
| Location notes | Fronts Lake Tahoe Boulevard; walking distance to lake and Stateline casinos |
| Borrower | Private real estate investor |
| Financing arranger | Largest independent commercial mortgage banking firm in the U.S.; production offices involved: Los Angeles and San Francisco |
| Pre-sale requirement | None |
Deeper Dive: News & Info About This Topic
Additional Resources
- Tahoe Daily Tribune: Gantry secures $11.75M construction loan for South Lake Tahoe townhomes
- Wikipedia: South Lake Tahoe, California
- ConnectCRE: South Lake Tahoe townhomes line up financing
- Google Search: South Lake Tahoe townhomes construction loan
- Tahoe Daily Tribune: Townhome property at base of Heavenly lists for $5.5M
- Encyclopedia Britannica: Heavenly Mountain Resort
- KOLO-TV: March South Lake Tahoe real estate stats
- Google News: South Lake Tahoe real estate March 2025
- Condé Nast Traveler: Best Lake Tahoe Airbnbs
- Google Scholar: Airbnb Lake Tahoe vacation rental impact
Author: Construction TX News
TEXAS STAFF WRITER The TEXAS STAFF WRITER represents the experienced team at constructiontxnews.com, your go-to source for actionable local news and information in Texas and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as the Texas Construction Expo, major infrastructure unveilings, and advancements in construction technology showcases. Our coverage extends to key organizations like the Associated General Contractors of Texas and the Texas Building Branch, plus leading businesses in construction and real estate that power the local economy such as Austin Commercial and CMiC Global. As part of the broader network, including constructioncanews.com, constructionnynews.com, and constructionflnews.com, we provide comprehensive, credible insights into the dynamic construction landscape across multiple states.
