Palisades Tahoe Makes Major Investment in Affordable Housing for Employees
In its recent initiatives to address workforce housing issues, Palisades Tahoe has procured two properties. This includes the Tahoe Vistana Inn, situated in Tahoe Vista, California, comprising 30 units of varying dimensions, and a multi-unit asset located in Kings Beach, hosting eight diverse unit/cabins.
The Tahoe Vistana Inn is expected to provide accommodation for a wide range of employees, including international, domestic, seasonal, and full-time staff members throughout the year. The facility offers an array of room types, from hotel-style rooms to larger multi-room apartments, capable of housing around 50 employees. Additionally, it features a beautifully landscaped park area, crafted to deliver a welcoming and scenic ambiance.
On the other hand, the Kings Beach property is designed to cater to employees in need of more permanent housing solutions. The property, equipped with eight cabin-style units, can house nearly 15 employees, subject to occupancy. Some units also include fenced yards to accommodate dogs, making it an ideal choice for long-term community members seeking stable living conditions.
Dee Byrne, Palisades Tahoe’s Chief Operating Officer, stated, “We acknowledge the significance of workforce housing as a pressing issue for our community and business, and are investing in various solutions.” Byrne went on to say, “The acquisition of these two properties symbolizes our commitment to attract and retain team members while expanding our array of housing options.”
Apart from these new acquisitions, Palisades Tahoe also owns and rents 13 apartment units in Olympic Valley, some of which have multiple bedrooms. During the winter months, the resort secures ski leases to accommodate its employees. Given that a substantial portion of the resort’s transient workforce does not stay for the entire season and hence cannot sign seasonal leases, the resort leases these properties at market rate for the whole season and assigns employees as required, often subsidizing a part of the rent.
The resort has also completed the second year of the Granite Flat campground winter lease with the U.S. Forest Service, offering 23 campsites suitable for employees with appropriate vehicles for living.
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