Developers get delay on Tahoe redevelopment project

The Tahoe Regional Planning Agency extended a permit for the Park Avenue Project, originally approved by the agency in November 1996. Continued delays have troubled the project and the 1996 permit was set to expire this November.

"It's my understanding they do have it lined up to begin construction this spring and into 2000," TRPA planner Rick Angelocci told the agency's governing board on Wednesday.

The $220 million project includes construction of the 194-unit Grand Summit Hotel and gondola, the 406-unit Lake Tahoe Inn, shops, restaurants, theaters, an ice-skating rink and pedestrian plaza. It is considered a cornerstone to effort to revitalize the downtown South Lake Tahoe area and convert the area to a world-class destination resort.

Some have been worried over the project's status due to recent financial problems for American Skiing Co., owner of Heavenly and other ski resorts in Colorado, Utah and New England.

A major player in the Park Avenue Project, American Skiing recently announced a $150 million purchase of company stock by Oak Hill Capitol Partners, a deal that executives said should end any doubts about the future of the Park Avenue Project.

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