Offer made on downtown Kings Beach property | SierraSun.com
YOUR AD HERE »

Offer made on downtown Kings Beach property

Realtors representing a large swath of downtown Kings Beach land that is being sold in a bankruptcy and fraud case say they have an offer on the property.Century 21 Realtor Michael Dunsford said the bankruptcy trustee is evaluating the offer for 15 properties, including downtown trailer parks, a strip mall on North Lake Boulevard, a Kentucky Fried Chicken, the Lucky 7 Tattoo & Piercing, other shops and several homes.He said he expects more offers on the nearly three acres in the coming weeks.Theres a great deal of interest, Dunsford said.The sale includes approved plans from Placer County for redevelopment of 1.3 acres of the land. The size and complexity of the sale makes it appealing to a small number of buyers, he said.For most people it is too big of a project to tackle, Dunsford said.Business owners are waiting to see what the sale means for them. Businesses available for comment said they hope to stay in their current locations.Where else would I go? said Rose Peluso, owner of Spirits of Tahoe, the market and liquor store on North Lake Boulevard whose leased property is up for sale.Peluso said she did not know her landlord, who managed the property through a real estate agency.Landlord Michael Schneider is now in jail, with bail set at $15 million, facing more than 100 felony charges of fraud and grand theft and forgery for allegedly defrauding real estate investors of more than $35 million in Santa Clara and Santa Cruz counties.The properties are being sold to partially repay the cheated investors.Lucky 7 Tattoo employee Forest Crivello said the owners plan to continue operation in Kings Beach. He said the parlor would like to keep its current location, but has not heard much about the bankruptcy sale.We have no plans of shutting down, Crivello said.Pam Jahnke, director of the North Tahoe Business Association, said she sees the sale as a huge opportunity to improve the business frontage along North Lake Boulevard, which is just steps from the beach.The office of the North Tahoe Business Association is also part of the property that is up for sale.Kings Beach is on the verge of beginning a $30-million downtown revitalization project that will add sidewalks, lights, parking, drainage and bike lanes as well as eliminating blight.Dunsford and the Realtors he is working with are using the commercial core improvement project to market the bankruptcy sale.


Support Local Journalism

 

Support Local Journalism

Readers around Lake Tahoe, Truckee, and beyond make the Sierra Sun's work possible. Your financial contribution supports our efforts to deliver quality, locally relevant journalism.

Now more than ever, your support is critical to help us keep our community informed about the evolving coronavirus pandemic and the impact it is having locally. Every contribution, however large or small, will make a difference.

Your donation will help us continue to cover COVID-19 and our other vital local news.


Start a dialogue, stay on topic and be civil.
If you don't follow the rules, your comment may be deleted.

User Legend: iconModerator iconTrusted User