South Lake Tahoe, California, August 14, 2025
News Summary
Gantry arranged an $11.75 million construction loan to build 14 for-sale townhomes at 3708 Lake Tahoe Blvd and 3709 Osgood Ave in South Lake Tahoe. Construction is underway on the combined 0.72-acre site, backed by an 18-month financing package that required no pre-sales. Gantry’s Los Angeles and San Francisco teams represented a private real estate investor, navigating underwriting challenges tied to resort seasonality and a recent land-basis increase from zoning adjustments. With funding secured, the project will move into core construction and site improvements, while final sales timing will depend on market conditions.
Gantry secures $11.75M construction loan to build 14 for‑sale townhomes in South Lake Tahoe
$11.75 million in construction financing has been secured to build 14 for‑sale townhomes on two parcels in South Lake Tahoe. The project occupies 0.72 acres at 3708 Lake Tahoe Blvd and 3709 Osgood Ave, and construction is now underway.
What the loan covers and who is behind it
The loan was arranged by Gantry, described in company materials as the largest independent commercial mortgage banking firm in the United States. Gantry’s team worked on behalf of a private real estate investor who is the project borrower. The financing comes from a set of lenders that specialize in construction lending and carries an 18‑month term. The lending group delivered capital without requiring any pre‑sales, allowing the developer to begin work immediately.
Project and site details
Branded as South Lake Tahoe Townhomes, the development will front the city’s main arterial, Lake Tahoe Boulevard, and is within easy walking distance of the lake shoreline, nearby Stateline casinos, and other local amenities. The two parcels together total just under three quarters of an acre and will be developed with 14 for‑sale units intended to tap both the resort market and local housing demand.
Team and offices
The Gantry team on the transaction included three professionals who represented the borrower: Peter Hillakas (Senior Director), Robert Slatt (Principal), and Keegan Bridges (Associate). The work drew on Gantry’s production offices in both Los Angeles and San Francisco to source and place the loan.
Underwriting challenges and lender selection
Underwriting a for‑sale residential project in a resort location presented multiple challenges. Seasonal swings in occupancy and cash flow patterns reduced predictability of demand at times of year, and recent zoning adjustments increased the project’s land basis, which affected loan sizing and terms. To address those issues, Gantry conducted an extensive review of its network of construction lenders and found a lender willing to support the project on timely terms and without pre‑sale conditions.
Why location matters
The site’s placement along Lake Tahoe Boulevard places it on a highly visible, well‑traveled route into the city and within short walks of recreation, beaches, and gaming and hospitality destinations near Stateline. That location is expected to appeal to buyers seeking a combination of year‑round access to outdoor recreation and proximity to tourism infrastructure.
Construction status and next steps
Groundwork and construction activities are active on site. With the construction loan now in place, the borrower can proceed through the 18‑month development timeline, completing vertical work, utilities, and interior finishes according to the project schedule and local permitting. The absence of a pre‑sale requirement means units will be marketed once ready rather than being presold before construction.
Key takeaways
- Loan amount: $11.75 million
- Units: 14 for‑sale townhomes
- Site: 3708 Lake Tahoe Blvd & 3709 Osgood Ave (0.72 acres)
- Loan term: 18 months
- Borrower: Private real estate investor
- Construction: Underway
Frequently Asked Questions
How many homes will be built and where?
Fourteen townhomes will be built across two parcels totaling 0.72 acres at 3708 Lake Tahoe Blvd and 3709 Osgood Ave in South Lake Tahoe.
Who provided the construction loan?
The loan was arranged by Gantry and provided by a lender drawn from Gantry’s roster of construction finance sources. The borrower is a private real estate investor.
Are buyers required to pre‑purchase units?
No. The lender delivered capital without pre‑sale requirements, so units will not need to be sold before construction begins.
What is the loan term?
The loan term is 18 months, designed to cover construction through initial completion stages.
Is construction already started?
Yes. Construction activity is underway on the site.
Why was financing more complex than usual?
Two main factors complicated underwriting: the strong seasonality of resort demand, which affects projected sales timing and cash flow, and recent zoning changes that increased the project’s land basis and altered capital needs.
Project at a glance
| Feature | Detail |
|---|---|
| Project name | South Lake Tahoe Townhomes |
| Addresses | 3708 Lake Tahoe Blvd & 3709 Osgood Ave |
| Units | 14 for‑sale townhomes |
| Site size | 0.72 acres |
| Loan amount | $11,750,000 |
| Loan term | 18 months |
| Borrower | Private real estate investor |
| Arranging firm | Gantry (arranged financing) |
| Gantry team | Peter Hillakas, Robert Slatt, Keegan Bridges |
| Construction status | Underway |
| Key locational points | Fronts Lake Tahoe Boulevard; within walking distance of Lake Tahoe shoreline, Stateline casinos, and local amenities |
Deeper Dive: News & Info About This Topic
Additional Resources
- Tahoe Daily Tribune: Gantry secures $11.75M construction loan for South Lake Tahoe townhomes
- Wikipedia: South Lake Tahoe, California
- ConnectCRE: South Lake Tahoe townhomes line up financing
- Google Search: South Lake Tahoe townhomes construction loan
- Tahoe Daily Tribune: Townhome property at base of Heavenly lists for $5.5M
- Encyclopedia Britannica: Heavenly Mountain Resort
- KOLO-TV: March South Lake Tahoe real estate stats
- Google News: South Lake Tahoe real estate March 2025
- Condé Nast Traveler: Best Lake Tahoe Airbnbs
- Google Scholar: Airbnb Lake Tahoe vacation rental impact
Author: Construction NY News
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