The Crossing changes complexion of SLT’s Y
By Kathryn Reed
A destination – that is what The Crossing wants to be.
What was the Factory Stores at the Y in South Lake Tahoe has been revamped with the hope it helps revitalize this end of town.
Sacramento-based Sutter Capital Group infused more than $1 million into the property. Besides a façade that makes the center look modern and inviting, the remodel has included an open space where the two commercial strips once met.
The 4,000-square-foot plaza can be rented for events and parties. There is an elevated stage, seating and fire pits. This is where bike-pedestrian paths connect to the center.
The brewery has large doors that open directly onto the plaza.
Based on the number of cars in the parking lot it is evident the center is more popular than it had been in recent years.
Sutter Capital bought the property in December 2014. For several years Wells Fargo Bank had owned the center because former owners Shannon Casteel and Nancy Irmer defaulted in 2012. At that time the sisters owed more than $8 million. In 2004, they bought the center from their brother, Gary Casteel. He still runs Heavenly Village.
New tenants that have moved in or will soon include Elevate Wellness, Omni Tahoe, Verde Mexican Rotisserie, Lake Tahoe Aleworx Taproom and Pizzeria, Sierra-at-Tahoe and T-Mobile.
Holdover tenants include Big 5, Bank of America and Styles for Less. Big 5 was closed earlier this year because the roof leaked and damaged the store. The interior has been fixed, and the roof will be replaced this spring.
“There are a number of vacant suites remaining, although we are in various stages of discussions with prospective tenants on the majority of them,” Burke Fathy, general manager of the ownership group, told Lake Tahoe News.