945-acre Northstar-area land portfolio sold to Nor Cal developer Mountainside Builders
August 21, 2018
Mountainside Builders, a subsidiary company of Taylor Builders, LLC has purchased the property assets of Mountainside Partners, comprising a portfolio of more than 940 acres in six separate development projects around the Northstar Resort community in North Lake Tahoe.
The properties were sold for an undisclosed amount.
"These projects are all part of an exciting vision for premier, luxury living in one of the country's most pristine and beautiful areas," Clifton Taylor, president of Mountainside Builders, said in a news release. "We are committed to seeing that vision realized through development that is a natural fit with existing communities, maintains the natural beauty, and gives back to the region."
The six separate projects are all in various stages of development, the release states. Mountainside at Northstar, adjacent to The Ritz-Carlton, Lake Tahoe, includes three on-mountain and slope-side communities ranging from homes and townhomes in the Stellar Collection and The Boulders, to M25, a collection of 25 large, custom lots. The Boulders has completed Phase I with five residences ready for purchase, while the Stellar Collection is nearly sold out, and M25 is 50 percent sold with numerous custom homes completed. Other properties in the surrounding area are in the very early stages of planning.
Collectively, the six projects represent entitlements for a mixture of residential units, including 309 within Mountainside, along with current and planned amenities for homeowners. Taylor says each of the projects, like any new development, has its own unique opportunities and challenges. He is committed to working with neighbors, builders, local nonprofits, elected officials and other stakeholders as the projects come under new management.
"My wife and I are both native Californians who have appreciated the beauty of Lake Tahoe our entire lives," Taylor said. "We're looking forward to enhancing the communities that have been created and welcoming in new families that share our love of this area."
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According to the news release, Taylor has continued the previous owners' commitment to contribute to the local community through the Tahoe Mountain Resorts Foundation. A portion of each sale (one percent on developer sales and 1.75 percent on re-sales) will be dedicated to charitable, environmental and community causes in perpetuity, including organizations like the Truckee Donner Land Trust, which earmarks funds for regional conservation.
Tahoe Mountain Realty has been retained to facilitate all aspects of sales and marketing for Mountainside at Northstar, the news release states.