SOUTH LAKE TAHOE, Calif. – In 2008 it was known as “The Hole” after financing dried up for a redevelopment project, bordered by Highway 50, Stateline Avenue, Friday Avenue and Cedar Avenue. A cement hole with rebar stayed until the project area could get under control of one owner through bankruptcy. In 2013, Owens Financial obtained a building permit to start spending $400 million to build over 27,000 square feet of commercial space along Highway 50. This was followed by the Zalanta Resort opening at Highway 50 and Friday Avenue in 2017.
