The second phase of a high-end Stateline community at Lake Tahoe has secured a $115 construction loan.
Tahoe Beach Club completed its first phase last year, with the first group of homeowners arriving in September 2019.
According to the developer, 48 new homes are included in the second phase, which is expected to be complete in mid-2023. The first selection of homes within Phase II will be ready for a mid-2022 move-in date.
“We are pleased to have closed on this new line of financing with ACORE Capital,” said Excel Realty Holdings CEO Mark Burton. “We value our relationship with ACORE and IMI Living and we anticipate a successful year of construction and sales as we introduce the next chapter of this lakefront community.”
When done, there will be 143 homes at Tahoe Beach Club.
Phase two homes will range in size from 1,256-square-foot, two-bedroom homes starting at $1.6 million to 2,831-square-foot, four-bedroom units at over $4 million.
“Tahoe Beach Club is the only community being built offering direct access to the lake, and the new phase of construction is thrilling to see,” said Tahoe Beach Club CEO Patrick Rhamey. “With our unmatched location, superior five-star amenities and year-round experiences, Tahoe Beach Club has had tremendous success in the marketplace.”