Lake Tahoe’s New Resort Project Set to Innovate

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Lake Tahoe has moved closer to a new luxury casino resort on its north shore.

Southern California Real Estate Investment Company Thursday EKN Development Group has reached an $ 18 million deal to purchase a beachfront property in Tahoe Vista currently occupied by Beesley’s Cottages, a group of rustic, lake-view cabins near the Nevada border. It is the last piece of a puzzle that EKN has been putting in place since 2007, when it obtained the necessary authorizations for its complex project.

“People don’t realize that in Lake Tahoe it is extremely difficult to access the lake. That’s why we bought this property, ”Ebbie Nakhjavani, President and CEO of EKN Development Group, told The Chronicle.

In September, EKN bought the Biltmore Lodge & Casino in Crystal Bay, a 75-year-old casino hotel a stone’s throw from the Cottage property, just across the Nevada border, for $ 56.8 million.

EKN plans to demolish both the casino and the cottages and build a new casino and a 120-room hotel, as well as 80 condominiums, a retail space and a beach club, as well as a wedding venue and event, in both properties. The company plans to open the land in May 2022 and hopes to open in 2025, Nakhjavani said.

Nakhjavani aims to attract a reputable hotel brand and offer guests and residents access to the lake, boats, restaurants, ski shuttles and more through a 24/7 concierge service.

“It will be very exclusive and all inclusive,” he said.

He also hopes the development can cater to uninvited visitors who wish to shop, eat or have a drink at a proposed rooftop bar overlooking the lake.

Nakhjavani has lived in Newport Beach and has skied Tahoe for 40 years, he said.

EKN’s portfolio includes hotels and shopping centers across California and Las Vegas, most of which are located in urban areas. This will be his first foray into the Tahoe region.

Gregory Thomas is the editor-in-chief of The Chronicle of lifestyle & outdoor. Email: gthomas@sfchronicle.com. Twitter: @GregRThomas



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