There are currently six(6) new projects being developed on the South Shore:
1. Edgewood Tahoe is building a Luxury Lodge and several four-plex buildings on the ninth fairway of the Edgewood Golf Course.
2. Zalanta is a 30 unit fee simple condo development across from the Heavenly Village and Gondola. Supposedly half of the units have reservations.
3. Tahoe Beach Club is building three luxury condominium buildings on the lake at the end of Kahle Drive
4. Sierra Colina has been approved for 12 single family homes and 35 duplexes next to Lake Village
5. 323 Tramway is comencing construction on 49 units located at Olympic Court.
6. Cave Rock Glen is an approved subdivision of 20 single family lots, gated with deeded access to Lake Tahoe.
Most of the projects expect to sell the properties at $800 to $1,000 per square foot, a price not ever realized on the South Shore with the exception of lakefront properties.
It stands to reason that if ANY of these projects can sell their inventory at those prices, the rest of the market, priced under $400/square foot seems like a great bargain.