EKN Development Group announced purchase of Beesley Cottages for $18m.
US.- EKN Development Group, a California developer which purchased the historic 75-year old Tahoe Biltmore Lodge & Casino, announced the purchase of the Beesley Cottages in Tahoe Vista.
The lakefront Tahoe property acquisition is related to the expansion plans to build a new luxury casino-resort. The land will be transformed into a “beach club“.
According to Washoe County, in October 2021, developers purchased the 75-year-old Tahoe Biltmore Lodge & Casino for $56.8m. The company plans to build a new casino and a 120-room hotel between the two sites, in addition to retail space and 80 condos.
As part of the project, developers are also planning to build new roads around the site. According to the developer, a shuttle service will be offered to the planned clubhouse for resort guests to minimise traffic to and from the waterfront.
EKN Development Group, together with its financial partners, Garn Development and Stack Real Estate, purchased the beachfront property for $18m.
EKN President & CEO Ebbie K. Nakhjavani, stated: “The Beesley Cottages acquisition stands as yet another testament to our dedication in bringing this project to life. We are very excited to be a part of this community and to enhance the experience of our project.
“Our collaboration with local partners and stakeholders will include listening sessions and town hall meetings to continuously engage with members of the community. We want to ensure that there is a clear understanding of our vision, timelines and what to expect as plans come to fruition.”
According to a press release, the developer plans to use the Beesley Cottages site as a luxury beachfront clubhouse. It will accentuate the casino resort’s extraordinary location by bringing the guest experience right to Lake Tahoe.
The beach club will provide an events and wedding venue that includes suites for parties plus full-service food and beverage amenities. The club will have a 24-hour concierge service that will arrange access to amenities like cabanas, beach chairs, umbrellas and watercraft.