Can you provide an update on the progress on the Cal-Neva resort and casino in North Lake Tahoe?
We can, though not much has changed, officially anyway, since the last time we answered this question about five months ago. However, since we get this question at least a couple of times a year (and we're interested in the Cal Neva's progress ourselves), we're happy to review what is new up there.
The most recent developments concerning the historic property on the north shore of Lake Tahoe that straddles the Nevada-California state line was contained in a cultural-resources report commissioned by CN Hotel Holdings investment firm, headed by Larry Ellison, executive chairman and chief technology officer of Oracle Corp., who owns a nearby property and acquired the Cal Neva through bankruptcy proceedings a couple years ago.
The report contains some new information about the eventual plans for the property.
First, the existing 10-story hotel tower, which turns 50 this year, will be renovated. Most of the low-rise buildings, including the casino-showroom-great room and wedding chapel, will all be demolished; the couple dozen original cabins are already gone.
Erosion-control measures have been implemented and several areas are being reseeded.
The plans also call for a new two-story casino, which will include restaurants, conference center, spa, and wedding chapel.
Currently, the Cal Neva team is meeting with all the Tahoe regulatory agencies, of which there are many, to put together, in the report’s language, “a viable project application” for a project that will “be in balance with the surrounding environment and community character."
