Tahoe construction loan, Gondola Vista listing and SLC townhome plans advance

Construction and development roundup: Tahoe townhomes financed, luxury ski‑in project listed, Salt Lake City proposals advance

Key developments in two mountain markets and a busy Salt Lake City corridor: a construction loan has closed to build a small for‑sale townhome project in South Lake Tahoe, a 20‑unit luxury ski‑in/ski‑out townhome portfolio has been listed for sale, and multiple townhome proposals in Salt Lake City have advanced through local review.

Top line: Loan closed to start 14 Lake Tahoe townhomes

A specialized construction lender arranged a short‑term $11.75 million construction loan to fund a 14‑unit for‑sale townhome development in South Lake Tahoe. The two parcels total 0.72 acres and sit at 3708 Lake Tahoe Blvd. and 3709 Osgood Ave. The project, currently branded as South Lake Tahoe Townhomes, fronts Lake Tahoe Boulevard and is within walking distance of the lake, local casinos and neighborhood amenities. Construction work is already underway.

The loan was provided through a roster of lenders that focus on construction financing and carries an 18‑month term. A Gantry production team based in Los Angeles and San Francisco represented the borrower, which is a private real estate investor. Lenders approved the loan without requiring pre‑sales, allowing development to commence immediately. Underwriting faced two notable challenges: the seasonal nature of a resort market and a recent increase in the project’s land basis tied to zoning adjustments. The lender ultimately chosen was selected for its ability to underwrite a for‑sale, resort‑market product on a tight timeline.

Luxury Tahoe portfolio listed at $55 million

A 20‑unit luxury townhome portfolio at the base of a major ski resort has been listed for $55,000,000. Known as Gondola Vista, the investment sits on a 3.43‑acre parcel and offers a true ski‑in/ski‑out experience. The collection includes 10 four‑bedroom, six five‑bedroom and four six‑bedroom townhomes, each with a two‑car garage. Individual residences range from 2,870 to 3,616 square feet and feature high‑end finishes, private outdoor spaces, and in some cases private hot tubs. All units have lake and mountain views.

The portfolio is listed as available in a bulk sale, though each unit has a separate assessor’s parcel number, which allows flexibility to sell homes individually. The property is located inside an area planned for tourist activity and benefits from exemptions that allow short‑term rentals without minimum‑stay limits. The listing notes potential to add further development — including up to a 71‑unit hotel or roughly 20 additional condominiums — and highlights opportunity zone status that can be attractive to some investors. Market conditions cited in the listing point to limited supply for lakefront and true ski‑in/ski‑out inventory, strengthening demand for exempt, income‑generating assets even as higher mortgage rates influence some buyer behavior.

Salt Lake City: multiple for‑sale and rental‑to‑condo townhomes move forward

City planners are advancing new townhouse designs along two different Salt Lake City corridors, reflecting an ongoing shift in supply and housing type choices in areas near transit and university connections.

400 South corridor — proposed 20‑unit for‑sale townhomes

A new design package is under review for a cluster of 20 high‑end townhomes0.75‑acre site near 900 East and 400 South. The site currently includes a closed restaurant and parking lot. The developer proposes three attached buildings that rise between 32 and 45 feet (up to four stories) and use brick and stone facades, arched entrances, private balconies and rooftop spaces. Blueprints show larger footprints per unit and a dedicated two‑car garage for each home. The project team has requested zoning exceptions, including reduced setbacks and a waiver to allow some units to sit behind others without direct public street access. The four parcels for the site are owned by a local nonprofit foundation with material net assets, and the project is before the city planning commission for review.

2100 South — 22‑unit project cleared to proceed

A separate townhome project of 22 units on 377 E. 2100 South received approval from the planning commission to move forward. That project sits on 2.36 acres of vacant land and was approved with site adjustments that permit rooftop decks on 10 units facing the main street and a slightly increased rooftop height allowance for those decks. Each unit will include a two‑car garage, two bedrooms and 2.5 bathrooms. The initial plan calls for rental operation managed by a professional property manager with a future conversion to condominiums for individual sale and oversight by a homeowners association after conversion.

Context: transit zoning and development trends

Both the 400 South corridor designs and the 2100 South project fall within long‑standing transit‑oriented zoning that follows a regional light‑rail line. That Transit Station Area zoning has encouraged hundreds of apartments and mixed‑use projects over the past decade, and recent proposals show a growing push to add for‑sale housing options in areas that have been heavy on rental and multifamily inventory.

Industry event and coverage notes

A nationwide in‑person CRE conference focused on apartments is scheduled for Sept. 11 in Los Angeles at the Fairmont Century Plaza. Separately, editorial teams that cover commercial real estate continue daily reporting on transactions, market trends and development activity across regions. Industry coverage commonly produces short daily items and longer analyses, and organizers and content directors often coordinate conferences, Q&As and educational sessions used by brokers, developers and service providers.

What this means for local markets: short construction loans with quick starts and no pre‑sale requirements can accelerate small for‑sale projects in resort markets, even when underwriting is complicated by seasonality and zoning changes. In high‑demand resort corridors, bulk portfolios with exempt rental status and development upside will attract investor interest. Meanwhile, transit corridors continue to evolve with a mix of rental and for‑sale townhome projects seeking to add ownership choices near light rail and university connections.