Construction underway for 14 South Lake Tahoe townhomes along Lake Tahoe Boulevard
South Lake Tahoe, California, August 14, 2025
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.
$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.
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.
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.
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 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.
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.
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.
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.
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.
No. The lender delivered capital without pre‑sale requirements, so units will not need to be sold before construction begins.
The loan term is 18 months, designed to cover construction through initial completion stages.
Yes. Construction activity is underway on the site.
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.
| 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 |
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