Ground work underway for 14 for‑sale townhomes near Lake Tahoe Boulevard in South Lake Tahoe.
, August 20, 2025
Construction has started on a 14‑unit for‑sale townhome development at 3708 Lake Tahoe Blvd. and 3709 Osgood Ave. in South Lake Tahoe after securing an approximately $11.7 million, 18‑month construction loan arranged by a commercial mortgage banking firm. The project occupies two parcels totaling 0.72 acres and fronts Lake Tahoe Boulevard within walking distance of the lake, casinos and ski connections. Financing required no presales, allowing immediate site work, foundation and framing. Underwriting addressed resort seasonality and a higher land basis from zoning changes. The sponsor will complete initial build phases under the loan term and market units as they finish.
What happened: Construction is now underway on a new development branded South Lake Tahoe Townhomes after a construction loan of about $11.7 million was put in place. Some reports list the loan at $11.75 million; both figures reflect the same financing arrangement where Gantry served as the primary arranger.
Where it is: The project sits on two parcels totaling 0.72 acres at 3708 Lake Tahoe Blvd. and 3709 Osgood Ave. in South Lake Tahoe, California. The development fronts Lake Tahoe Blvd. and is a short walk from the Lake Tahoe shoreline, nearby Stateline casinos, ski resorts and other local amenities.
What’s being built: The site will hold 14 for‑sale townhomes. Construction has commenced on the compact, 14‑unit project that is intended for sale to individual buyers once completed.
Financing details: The capital is an 18‑month construction loan sourced through Gantry’s roster of lenders that specialize in construction financing. The borrower is identified as a private real estate investor. Gantry’s team members who represented the borrower on the transaction were Peter Hillakas (Senior Director), Robert Slatt (Principal) and Keegan Bridges (Associate). Gantry’s Los Angeles and San Francisco production offices were involved in the placement.
Underwriting context: Underwriting for the deal required extra work due to the nature of resort‑area fundamentals and recent changes that raised the project’s land basis. Seasonality typical of a mountain resort destination and an increased land cost after local zoning adjustments made it more challenging to secure optimized loan terms. After a detailed review of available construction lenders, Gantry identified a lender willing to finance the for‑sale project and provide a timely capital commitment that allowed construction to begin without requiring any pre‑sale obligations.
Timing and next steps: With financing in place and ground work now in progress, the project’s 18‑month loan term frames the initial construction window. The loan structure and market fundamentals in a resort community suggest the development will advance through foundation and framing phases first, followed by interior finishes and site work ahead of marketing and sales to individual buyers.
Local and market relevance: The site occupies a central location along the city’s main arterial and offers convenient pedestrian access to the lake and adjacent tourist nodes. The combination of a small for‑sale product type, a prime central location, and resort‑area seasonality sets the development apart from larger multifamily or rental projects typically seen in urban markets.
Related content context: This financing announcement appeared in an aggregated content feed that also included event listings and industry conference notices covering topics such as industrial, multifamily, seniors housing, student housing and healthcare real estate. Those event items are separate from the townhome development and serve as background items in the same information stream.
The project will deliver 14 for‑sale townhomes on two parcels totaling 0.72 acres in South Lake Tahoe.
The development sits at 3708 Lake Tahoe Blvd. and 3709 Osgood Ave., fronting Lake Tahoe Blvd. and within walking distance of the shoreline and nearby amenities.
Financing is a construction loan arranged by Gantry and placed with a lender from its construction financing roster. Reported loan amounts were $11.7 million and $11.75 million in different accounts; the loan has an 18‑month term.
The borrower is a private real estate investor working with Gantry to secure construction financing and start development.
No pre‑sale requirements were attached to the lender’s commitment, allowing construction to begin without advance unit sales.
Underwriting had to account for resort seasonality and an increased land basis after zoning adjustments, which affected the ability to secure the most favorable terms. A lender was found after an extensive review and committed timely capital.
| Feature | Detail |
|---|---|
| Project type | 14 for‑sale townhomes |
| Location | 3708 Lake Tahoe Blvd. & 3709 Osgood Ave., South Lake Tahoe, CA |
| Site size | 0.72 acres (two parcels) |
| Loan amount | $11.7M–$11.75M (construction loan) |
| Loan term | 18 months |
| Arranger | Gantry (placement from construction lender roster) |
| Borrower | Private real estate investor |
| Construction status | Underway |
| Walkability | Short walk to shoreline, casinos, ski resorts and amenities |
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