Construction underway for 14 South Lake Tahoe townhomes along Lake Tahoe Boulevard
South Lake Tahoe, California, August 14, 2025
Gantry arranged an $11.75 million construction loan to build 14 for-sale townhomes at 3708 Lake Tahoe Blvd and 3709 Osgood Ave in South Lake Tahoe. Construction is underway on the combined 0.72-acre site, backed by an 18-month financing package that required no pre-sales. Gantry’s Los Angeles and San Francisco teams represented a private real estate investor, navigating underwriting challenges tied to resort seasonality and a recent land-basis increase from zoning adjustments. With funding secured, the project will move into core construction and site improvements, while final sales timing will depend on market conditions.
A commercial mortgage firm has secured an $11.75 million construction loan to build 14 for-sale townhomes in South Lake Tahoe. The project sits on two parcels at 3708 Lake Tahoe Boulevard and 3709 Osgood Avenue, totaling 0.72 acres. Construction has begun on the development, which is currently being marketed as South Lake Tahoe Townhomes.
The financing clears the path for a compact, for-sale townhome project located on the city’s main arterial. The site fronts Lake Tahoe Boulevard and is within easy walking distance of the lake shoreline, the gaming corridor at the state line, and other local amenities. That proximity makes the project attractive to buyers who want ski and lake access without long drives.
Lenders and arrangers faced two notable challenges during underwriting. First, the seasonal nature of a resort market makes steady demand harder to predict across the year. Second, recent zoning adjustments increased the project’s land basis, which changed the deal math and affected how lenders evaluated risk. To overcome those issues, the arranging team conducted a wide review of construction lenders and identified one able to provide timely capital on terms that did not require any unit pre-sales before breaking ground.
The arranging group acted on behalf of a private investor that owns the two parcels. The transaction drew on production offices in both Los Angeles and San Francisco. Named members of the arranging team included a senior director, a principal and an associate who guided lender outreach and closed the funding package.
The local condo and townhome market showed thin-for-a-mainstream market inventory in a recent month: 37 active condo and townhome listings, with four of those in escrow and the rest available. Price ranges in that snapshot showed a spread from under $300,000 to well above $1 million, with most listings priced above $300,000. That local mix reflects a range of buyer types, from entry-level vacation-home shoppers to higher-end buyers seeking larger resort properties.
With construction now underway and an 18-month financing term in place, the developer will build the townhomes without needing pre-sales to secure funding. That approach can speed construction starts but places more emphasis on finishing units and marketing them for sale once they are complete. Buyers and brokers should monitor local listings for specific unit offerings, pricing, and sales timelines as the project progresses.
A construction loan was arranged by a commercial mortgage firm using a lender from its roster who specializes in construction financing.
The loan totals $11.75 million with an 18-month term.
Fourteen for-sale townhomes on two parcels totaling 0.72 acres, branded as South Lake Tahoe Townhomes.
The addresses are 3708 Lake Tahoe Boulevard and 3709 Osgood Avenue, fronting Lake Tahoe Boulevard and a short walk to the lake and the nearby gaming corridor.
No pre-sale requirement was part of the financing, allowing construction to begin without buyer commitments on individual units.
The borrower is a private real estate investor who owns the two parcels and is developing the for-sale townhomes.
Resort-area seasonality can affect demand and pricing across the year, which adds complexity to underwriting and sales planning for a for-sale development.
| Feature | Details |
|---|---|
| Loan amount | $11.75 million |
| Loan term | 18 months |
| Units | 14 for-sale townhomes |
| Site | 3708 Lake Tahoe Blvd & 3709 Osgood Ave — 0.72 acres |
| Construction | Underway; financed without pre-sale requirement |
| Location benefits | Fronts main arterial; walking distance to lake, gaming corridor, and local amenities |
| Borrower | Private real estate investor |
| Arranging team | Senior director, principal and associate; production support from Los Angeles and San Francisco |
Note: Project branding and specifics may be updated by the developer as work progresses. Readers interested in buying or tracking phasing and pricing should watch local sales listings and planning updates.
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