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Developer says Tahoe City Lodge remains "100% committed," hopes to break ground in spring
Summary
Sameer Touma, representing the Tahoe City Lodge project, told the Charleston PFD board the developer remains "100% committed" and that challenging capital markets have delayed financing; he said the team hopes to break ground in spring 2025 and answered brief questions from directors.
Sameer Touma, speaking during the public‑comment period, told the Charleston Public Facility District board he remains “100% committed” to the Tahoe City Lodge project and said the team is working behind the scenes to secure financing after a difficult stretch in capital markets. “We continue to make progress, although not as quickly as we would like,” Touma said, and said the project team is watching interest‑rate and construction‑cost trends ahead of a planned full groundbreaking in spring 2025.
Touma acknowledged the broader market headwinds facing hotel construction and said the team has been coordinating with district staff and other stakeholders. He thanked district staff members Sean and Matt by name for ongoing support and offered to answer questions from the board, noting he could not appear on video due to technical problems. The board did not take action on the lodge project during the meeting; Touma's remarks were recorded as public comment.
