New Residential Development increases buyer choices, and puts new construction on market.
(Lake Tahoe Real Estate Blog / September 16, 2011 / Richard Bolen)
This is all good news for South Lake Tahoe home buyers. Home prices have not been this affordable in a decade, and mortgage interest rates have never been this low.
In addition to these very real home buyer advantages, there are a host of additional South Lake Tahoe positives that make our community even more attractive, and our housing climate even better. These positives include improvements in our infrastructure and private investments in local businesses. All together, what this means is a tremendous amount of very smart money is being put into South Lake Tahoe right now.
This is a part-four in a 9-part series to help South Lake Tahoe home buyers better understand the ongoing investment into our resort community, and how these infusions make for an even better reason to buy here.
Sierra Colina Village
Sierra Colina Village is a residential development project that apparently has recently been cleared to proceed by a recent federal court ruling (here). If this assumption is correct, and it does appear that it is, this development will have a positive effect on our local housing industry. It means more affordable choices for home buyers, and particularly so for those who desire new construction.
Located off Lake Village Drive on the Nevada side of South Lake Tahoe, Sierra Colina is an 18-acre, 50-unit subdivision of single and multifamily homes. Within these 50 residential units, 41are to be townhome condominiums, and 9 units are to be affordable single family homes.
At present, we are unsure when construction of Sierra Colina Village will be completed, but the addition of 50 new residential properties into our Nevada housing inventory is most welcomed.
According to the Sierra Colina Village website (here), the development aspires to become the first neighborhood in the Lake Tahoe Basin designed to meet state-of-the-art standards for creation of sustainable homes that will provide energy savings and a variety of long-term quality of life benefits to future homeowners and the community.
It will provide a mixture of Leadership in Energy and Environmental Design (LEED) Green Certified and Energy Star rated sustainable market-rate and deed-restricted moderate-income homes. Sierra Colina Village is striving to become the first neighborhood in the Lake Tahoe Basin to have all its homes meet state of the art green sustainability criteria.
The project is adjacent to the Lake Village residential townhome and condominium neighborhood on the Nevada side of South Lake Tahoe.
(Sources: Tahoe Daily Tribune and Sierra Colina Village websites, links are above).
Other Lake Tahoe Real Estate Blog posts in this series:
Sep 13, 2011: (pt 1) California Conservation Corps Tahoe Service Center
Sep 14, 2011: (pt 2) Trout Creek to Ski Run Project
Sep 15, 2011: (pt 3) Lake View Commons
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