Deal done on Forest Service land; plans unclear | SierraSun.com
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Deal done on Forest Service land; plans unclear

The future of the 82-acre U.S. Forest Service parcel near downtown Truckee is now in the hands of a Southern California developer.P & M Marciano Capital LLC closed escrow Sept. 12 on the property, located off Indian Jack Road above Interstate 80, Truckee Ranger Joanne Roubique said.The company was the highest bidder in an online auction, purchasing the property for $5.65 million. The auction drew attention from bidders from Chicago, Las Vegas, San Diego, and the Bay Area before the Forest Service accepted P & M Marciano Capitals bid in April.Roubique said the property escrow is finalized and everything is complete. Any information on what P & M Marciano Capital plans to do with the land is unknown at this time.Roubique said there hasnt been any contact between the Forest Service and the company since escrow closed.I had the impression that they (P & M Marciano Capital) were shopping for developers, Roubique said.The companys attorney, Mark E. Petas, was not available for comment as of press time. The land is zoned residential, with room for as many as 41 homes, or one home every two acres, according to Rick Maddalena, with the Forest Services Truckee Ranger District.There are four single-family homes, two barracks, one Quonset hut, and a handful of other miscellaneous buildings on the eastern one-third portion of the property, Roubique said. She said she didnt know if P & M Marciano Capital intended to leave the existing structures intact.


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