Tahoe high-end condo complex hits $85 million in sales over summer
The Tahoe Beach Club condominium complex on Nevada’s southeast shore of Lake Tahoe has seen more than $85 million in sales in its first summer.
Home buyers are mostly from the San Francisco Bay Area, Southern California, Texas and New York, securing 35 of 42 available Phase One contracts at the luxury condominium homes near Edgewood Golf Course off of U.S. Highway 50, according to a news release.
The initial stage of the project includes two- to five-bedroom residences from 1,000 to 5,000 square feet, priced from $1 million to $5 million, scheduled for completion in summer 2018.
“The appeal of the Nevada lake front, the state’s favorable tax implications, environmentally conscious construction, combined with the diminishing opportunity for a highly desirable and active lakefront lifestyle are paramount in buyers’ rationale,” said Greg Traxler, vice president sales and marketing. “We’re also seeing area residents downsizing from 5,000 – 6,000-square-foot homes to the more manageable options here at Tahoe Beach Club.”
The next available residences of Phase Two will be released for reservations by the first of the year and under construction by spring 2018.
Tahoe Beach Club will be LEED-certified with significant attention paid to improving and maintaining the lakefront property. The project has earned major plaudits from environmental agencies as it will greatly reduce both sediment run-off and greenhouse gas emissions.
When completed, the Tahoe Beach Club will feature 143 condominium residences on the 20-acre site surrounded by 300 acres of private meadows with public bike paths to the north, Lake Tahoe beach on the west, and Edgewood Tahoe Golf Course 50 yards to the south.
Jacob Warwick, CEO of Discover Podium, says the company that launched only a year ago in Reno recently surpassed $1 million in revenue and has big plans for growth in the coming months.