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Stanford Alpine Chalet Re-Development

Mike Montalbano Mike Montalbano, September 25, 2016 in Coming to Market, Real Estate

 

There is much controversy in North Lake Tahoe about brand new development projects. Lake Tahoe is such a pristine setting that any development project is going to evoke strong emotions from both environmentalists and developers. Rather than commenting on the merits/limitations of these projects I would like to discuss a fully entitled re-development project with minimal environmental impact: The Stanford Alpine Chalet.

Those familiar with Alpine Meadows have probably heard the words, “Stanford Alpine Chalet,” but may not know much about the building. Located at the base of Alpine Meadows on Chalet Road, this now defunct building once served as the Stanford Alumni Associations ski headquarters.

The building was originally constructed in the early 1960s as a lodge style chalet. The Chalet’s < 0.5 mile proximity to the Alpine Meadows base area makes it the closest residential development in the community. Previous visitors would come for the weekend, hop on the Stanford Shuttle, ski the day away, and conveniently retire to their bunk room accommodations just down the road. Over the years the building was under-utilized and under-repaired. Attempts were made to revitalize the building, even opening the doors to non-Stanford alums and wedding parties. After years of neglect the building moved from renovation candidate to full on re-development project. Ultimately The Board of Regents decided it was in their best interest to part ways with the 2.56 acre property and offer it for purchase.

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Fully entitled plans were devised for 18-luxury townhomes, each with jaw-dropping panoramic views of Alpine Meadows. Project plans, vesting maps, entitlements, and floorplans included in the sale of this property allow the future owner a seamless process. This project has received all discretionary approvals from Placer County necessary to construct, subdivide, sell, and occupy the project. With the securing of building permits construction could begin as early as May 2017.

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Over the past 20+ years there hasn’t been any kind of project to match the growing demand of the Alpine Meadows core community. New construction is lacking and old inventory only growing older. The Alpine Chalet project at the base of the mountain is going to provide unparalleled access, not to mention views, views, views.

The traditional bellwether for North Lake Tahoe luxury real estate market was Lakefront property. As planned communities emerged in Truckee luxury sales began to outpace older, more traditional properties. In 2016 alone the number of sales in these new resort properties quadrupled that of the traditional lakefront. Martis Camp, the catalyst for this paradigm shift, has exceeded lakefronts in both price and total sales units. As the market continues to thirst for modern product the percent of new home sales has also steadily risen. Offering 18 brand new townhomes as part of the Stanford Alpine Chalet Re-Development will draw a strong comparison to the Truckee resort communities while addressing the growing demand for premium luxury properties.

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Contact me to learn more about this once in a lifetime re-development opportunity and to obtain more details.