A $298 million financing package may soon change the state of the Cal Neva. The historic venue is one of a handful of major properties at North Tahoe’s state line that once welcomed visitors, but are now boarded and fenced, creating somewhat of a hospitality desert there.
Colorado-based real estate investment and development firm, Realberry, along with hospitality management company, Proper Hospitality, announced the recent closure of the large financial deal on April 2.
100 years after it first opened, the financial package marks a new chapter for the Cal Neva, set to open under a new name in 2027 as the Lake Tahoe Proper Resort and Casino.
