A land parcel adjacent to the Lake Tahoe Ritz Carlton at Northstar planned for 61 upscale luxury condominiums.
Project Description
Douglas Wilson Companies (DWC), agent for Receiver, was charged with overseeing the disposition of the asset.
Scope of Work
Following the appointment and prior to the current disposition process, DWC resolved numerous entitlement and compliance issues. In particular, DWC worked closely with the Placer County (CA) planning and engineering departments to process a building permit for the property, which resulted in the reduction of an annual Mello Roos tax from $1.9 million to $11,000. This reduction greatly enhanced the sale value of the property.
Project Resolution
The Receiver has been successfully discharged.
Project Name
Lake Tahoe Ritz Hotel Residences Land Parcel
Client
Superior Court of the State of California, Placer County
Location
Lake Tahoe, CA
