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.
Construction has begun on a 14‑unit for‑sale townhome project in South Lake Tahoe after financing was arranged by a mortgage banking firm. The project, branded as South Lake Tahoe Townhomes, sits on two parcels totaling 0.72 acres at 3708 Lake Tahoe Blvd. and 3709 Osgood Ave., with the site fronting Lake Tahoe Boulevard and within a short walk of the lake shoreline, nearby casinos at Stateline and other local amenities.
Construction financing was secured through Gantry and its roster of lenders who specialize in construction loans. The reported loan amount appears in two close figures: $11.7 million in one report and $11.75 million in another. The credit is structured as an 18‑month construction loan. The borrower on the deal is a private real estate investor. Representatives from Gantry who worked on placing the loan included a senior director, a principal and an associate from the firm’s Los Angeles and San Francisco production offices.
The site’s location on the city’s main arterial and its proximity to the lake and recreation assets were central to underwriting the project. Underwriting did encounter challenges tied to the resort nature of the market, including seasonal demand swings and a recent rise in the project’s land basis after zoning adjustments. Those factors made it harder to secure optimized terms, but after an extensive review of construction lenders the arranging team identified a lender willing to fund the for‑sale development without requiring any pre‑sales.
The development will yield 14 townhomes built for sale to individual buyers. Work on the site has commenced and initial construction activity is underway. The two parcels total 0.72 acres, and the property directly fronts Lake Tahoe Boulevard, making it convenient for walking to the shoreline and nearby entertainment and resort areas.
South Lake Tahoe is a year‑round resort city with peaks and valleys in demand tied to tourism seasons. Those seasonal swings affect sales absorption and financing terms for for‑sale housing in resort markets. In this instance, the project sponsor’s local experience and the site’s favorable location helped the financing team find a construction lender prepared to move forward on a relatively short loan term and without presale conditions.
The loan and construction notice ran within an aggregated content feed that also included several upcoming industry events and webinars covering topics such as industrial development, seniors housing, student housing design, medical office real estate, and multifamily and retail markets across multiple regions. These event listings appeared alongside the project notice in the same content stream but are unrelated to the townhome financing and construction.
Key near‑term items to follow for this development include permitting milestones, construction schedule updates, any change to the financing plan or loan terms, and the timing of marketing and listings for the individual townhomes. Given the 18‑month loan term, construction and sale timing will be important to monitor, especially in a resort market with seasonal demand shifts.
The project will deliver 14 for‑sale townhomes on two parcels at 3708 Lake Tahoe Blvd. and 3709 Osgood Ave.
The site fronts Lake Tahoe Boulevard in South Lake Tahoe and is within walking distance of the lake shoreline, Stateline casinos and local amenities.
Reports show the construction loan at approximately $11.7 million to $11.75 million, structured as an 18‑month construction loan.
The construction loan was arranged by Gantry using its roster of construction lenders. The borrower is a private real estate investor.
Yes. Construction activity on the site has commenced.
No presale requirement was imposed by the lender identified for this financing, allowing development to start without pre‑sale commitments.
| 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 (two parcels) |
| Loan amount | $11.7M–$11.75M |
| Loan type / term | Construction loan, 18 months |
| Arranger | Gantry (arranged from its construction lender roster) |
| Borrower | Private real estate investor |
| Site advantages | Fronts main arterial; short walk to lake shoreline and Stateline amenities |
| Construction status | Underway |
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