South Lake Tahoe locals and regulars all know the “Y” really well. It’s a landmark of sorts. Realistically though, with only 50% occupancy how often is the “Y” a destination? well with some new plans in the works, the “y” is going to get a whole lot better. A large outdoor communal patio with a fire pit and event stage, new landscapes, and a complete exterior upgrade of retail buildings is planned; the area will be renamed Crossing at Tahoe Valley.
“We’ve met with the city several times and they are in support of it,” said Burke Fathy, managing partner of Sutter Capital Group. “We’re really excited to offer something new for the community and visitors.”
Sutter Capital Group acquired the property for an undisclosed amount just before the holidays in 2014, after noticing the potential the outdated property presents. It will be a multi-million dollar project.
According to a news release from Sutter, the former factory stores will undergo a comprehensive renovation, including new mountain-contemporary building facades, environmentally appropriate landscape design improvements, new elevated branding and signs, enhanced vehicular and pedestrian access, and the construction of a large communal outdoor patio with open seating areas, fire pit and an elevated event stage.
Part of the plan includes knocking out 4,000 square feet to build the patio and hook it into the existing bicycle path while complimenting the planned Tahoe Area Valley Plan.
The Tahoe Valley Greenbelt is part of that plan, including development of open space and bike/pedestrian paths. The area plan also allows the city approve the Crossing project without Tahoe Regional Planning Agency involvement.
For more information on the Tahoe Valley Area Plan, visit www.cityofslt.us/index.aspx?NID=734.