New condo development planned for property adjacent to Van Sickle Bi-State Park

A 3.43 acre piece of land once owned by Randy Lane's Falcon Capital LLC may soon have a 22-unit condominium project built on it. The property (made up from two parcels) is underneath the gondola, adjacent to the Van Sickle Bi-State Park near the state line in South Lake Tahoe, Calif. The listed owner of the property is now Lucky Look LLC.

Randy Lane was a managing member of Lake Tahoe Development Company, the group responsible for the failed convention center project on Highway 50 in South Lake Tahoe that became what many called an “eyesore,” or “the hole” until it was recreated into a retail and condominium project, much of which is currently under construction.

In 2008, as the Convention Center project stalled, plans were moving forward for the Gondola Vista Timeshare Resort which was planned on two lots that Lane owned. Both the Tahoe Regional Planning Agency (TRPA) and SLT City Planning Commission had approved the project, but it was never built due to a lack of financing available due to the economy at the time according to an interview with Lane’s attorney, Lew Feldman.

Since then, the two parcels have changed official ownership and a new plan has emerged, Gondola Vista Estates.

Plans for Gondola Vista Estates were submitted to the SLT Planning Department in February 2016 and evaluation of them should take another two months to complete according to John Hitchcock, Planning Manager for the City. Once approved they do not need to go to the City Planning Commission since the project was previously approved, though the 2008 project called for four affordable-housing units and 20 timeshare units. The new project is 11 different three-story buildings with two units per building for a total of 22 units. Each of those units will be about 2,500 sq ft and include a garage on the bottom floor.

TRPA will be sending out a letter to neighboring property owners as early as this week that will ask for comments to be submitted within a 14-day window. The notice will only ask for comments and does not include a public hearing date. If no substantial comments are submitted, TRPA can approve at staff level since it is re-permitting the project that was previously approved in 2008. Planners for the agency anticipate Lucky Look LLC being issued a permit by the end of May.

The permit goes with the property, so even though the original permit was issued to Falcon Capital LCC, Lucky Look LLC can be issued the new permit according to TRPA.

While Lane’s name is not on the plans submitted to the City, staff members at the California Tahoe Conservancy (CTC), which owns the surrounding park property under the Gondola, told South Tahoe Now that it is Randy Lane who planning to build the condominiums. Both Falcon Capital and Lady Look share the same Post Office Box address in Zephyr Cove, Nevada. A call to both the Nevada and California Secretary of State showed no Lucky Look LLC on file, but there is a Lady Look LLC in Washington. It is unknown at this time if that is the same company as the lawyer listed as the registered agent did not reply to South Tahoe Now's information request.

Falcon Capital’s attorney Lew Feldman said at the 2008 approval of the timeshare project that the time was right to plan the development and receive the needed approvals so all would be ready to go when financing materialized.

Gondola View Estates would be built to the southeast of the new Loop Road project should that be approved. The two parcels that will be developed are near the water tower access road off of Loop Road behind Forest Suites, just under the gondola. In 2008, the timeshare development was going to add sidewalks, but it was unsure if the Loop Road Project, planned even back then, would be able to accommodate them due to pedestrian safety.

The TRPA minutes from their August 9, 2006 board meeting stated CTC had the opportunity to buy the two parcels from the Van Sickle Trust, but declined:

CTC was offered the opportunity to acquire the parcels currently owned by Falcon Capital; however, the agency ultimately decided not to purchase these mixed high- and low-land capability parcels from the Van Sickle Trust. The fact that the Community Plan District was themed “Affordable Housing” played a role in the final decision not to acquire them, as the CTC did not want to usurp the opportunity for affordable housing at the site, which was the identified use for the site in the Community Plan.. The agency sought to allow the opportunity for private development to occur consistent with the adopted Community Plan direction.

Falcon Capital purchased the two parcels in District 6a with the original intent to build affordable housing. However, given the high costs of land and construction and the inability to obtain a sufficient development subsidy construction of affordable or unsubdivided multiple family housing has not proven financially feasible.

The affordable housing units were required by TRPA only if Tourist Accommodation Units (TAUs) were going to be used on the project, as what was originally planned. A condominium project does not need to use TAUs.

Timeline on the Project Area:

10/23/02 – Lots purchased by Falcon Capital LLC from Jack Van Sickle Trust
5/8/06 – Falcon Capital Lawyer Lew Feldman discusses resort plans at TRPA Board Meeting
4/9/07 – "Quit Claim" filed on lots and ownership transferred from Falcon Capital LLC to Tahoe I LLC
9/11/08 - City of SLT Planning Commission approves Gondola Vista Timeshare Resort
9/15/08 - TRPA hearing officer approves Gondola Vista Timeshare Resort
1/30/15 – Deed to both lots transferred from Tahoe 1 LLC to Lucky Look LLC due to foreclosure
2/17/16 - New plans for Gondola Vista Estates submitted to City of SLT Planning Department by Lucky Look LLC
5/10/16 - TRPA plans to mail out letters to surrounding property owners about estates. Approval expected by end of month.