EKN Development Group, along with its financial partners Garn Development and Stack Real Estate, recently acquired the Beesley Cottages property at 6674 North Lake Blvd. in Tahoe Vista. The $18 million purchase, announced Dec. 23, comes after Newport Beach, California-based EKN Development Group’s $56.9 million purchase in September of the Tahoe Biltmore Lodge and Casino in Crystal Bay, on the Nevada side of Tahoe’s north shore. According to a press release, the 7-unit property in Tahoe Vista, located 3 miles west of the Biltmore on the California side of the lake, will enhance the experience of guest amenities at the “envisioned luxury resort and residences” planned for the Biltmore property. “The Beesley Cottages acquisition stands as yet another testament to our dedication in bringing this project to life. We are very excited to be a part of this community and to enhance the experience of our project,” Ebbie K. Nakhjavani, President/CEO of EKN, said in a statement. “Our collaboration with local partners and stakeholders will include listening sessions and town hall meetings to continuously engage with members of the community. We want to ensure that there is a clear understanding of our vision, timelines, and what to expect as plans come to fruition.” The Biltmore redevelopment project was first approved by the Tahoe Regional Planning Agency 2007, though plans sputtered in recent years. According to past reports, EKN has continued operation of the 113-room hotel and casino, “while finalizing plans for the development of the 15-acre site.” EKN is “now executing on that vision,” according to the Dec. 23 release, including plans to build new access roads that were recently approved by Washoe County. As for the Beesley Cottages property, renovation plans there include creating a luxury beachfront clubhouse complete with a wedding venue, 24/7 concierge service and access to boat buoys, among other amenities. “The Beach Club accentuates the resort’s extraordinary location by bringing the guest experience right to the lake,” Nakhjavani stated. “Our appreciation for Lake Tahoe and the communities along the North Shore will contribute to thoughtful implementation of the project. We are immensely excited to see this once-in-a-lifetime project come alive.”
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