Development proposal on tap for Tahoe’s Crown Motel property
June 20, 2016
KINGS BEACH, Calif. — A San Francisco-based developer is eying a key piece of real estate in downtown Kings Beach for a lodging and commercial-residential redevelopment project.
Laulima Partners LLC completed its purchase on May 24 of a 4.5-acre plot of land on both sides of Highway 28 in Kings Beach previously owned by Ferrari family, which includes the lakefront Ferrari Crown Resort at 8200 North Lake Blvd.
Terms of the deal were not disclosed.
On the property, Laulima plans to propose the "Crown Redevelopment Project," which would, "create a welcoming, attractive and engaging mixed-use destination that builds upon the community planning to-date and further enhances the local opportunities for recreation, relaxation and connection," according to http://www.crownredevelopmentproject.com, a website the company set up about the proposal.
The project includes 117 lodging rooms, 34 residential units, and 5,500 square feet of commercial space on both sides of Highway 28.
According to a news release provided to the Sun by Fresh Tracks Marketing, Laulima is planning no additional hotel or residential units within the redevelopment project area, but rather plans to take existing uses at the Crown site and "shift things around" to create an upgraded experience for visitors and local residents.
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Marin County-based Highway 1 Hospitality will serve as a project partner and will operate the Crown motel during the eventual planning and approval process.
"We believe this project really continues in the spirit of the Ferrari legacy, of the Kings Beach Vision Plan and of the $44 million spent on the Kings Beach Commercial Core Improvement Project," David Bouquillon, managing partner with Laulima Partners, said in a statement. "Our goal is to complement the character of the community and act as an economic catalyst for business and tourism in town."
According to the news release, Laulima will host a community workshop from 6-7:30 p.m. on June 21 at the nearby North Tahoe Event Center in Kings Beach, the first of reportedly several public workshops the company will host before submitting a project proposal to the Tahoe Regional Planning Agency and Placer County later this year.
Laulima plans to break the project into two phases — lakeside (south of 28) and mountainside (north of 28). Preliminary plans put the lakeside project proposal on a timeline to be submitted by August, and fall/winter 2016 for the mountainside.
Of note, Laulima is the same company that submitted a response to the North Tahoe Public Utility District's Request for Proposal for partnership and investment in the North Tahoe Event Center.
"This proposal is separate from our Crown Redevelopment Project," according to Laulima. "We are excited about the opportunity to support the reinvestment in the Event Center, but will pursue the Crown Redevelopment regardless of the outcome (of) the … RFP award process."
Visit http://www.crownredevelopmentproject.com to learn more.