A beloved resort, once a hotspot for the biggest stars during Hollywood's golden age, is undergoing a massive $298 million redevelopment and will reopen next year. Cal Neva, a sprawling hotel straddling the California-Nevada border, has been collecting dust for decades as many developers have tried and failed to restore its glory.
This time, Realberry, a Colorado-based real estate firm, is determined to rebuild a resort 'unlike anything else in the mountain west,' the developers declared in a press release. The hotel is set to rebrand as Lake Tahoe Proper and will feature 197 guest rooms, suites, and private villas.
The developers are also planning to erect multiple restaurants, including the celebrity magnet, the Circle Bar. The new resort will have pools, a spa, event spaces, a casino, and a restored 225-seat theater.
Brad Korzen, the Co-Founder and CEO of the hospitality group involved in the development, said: 'Lake Tahoe Proper is everything that defines this brand, brought together in one singular, iconic place. Innovative wellness, culture, energy and spaces that are genuinely unlike anything else. Through our partnership with Realberry, we have pushed wellness and culture to the forefront at our existing properties in Santa Monica and Austin. Lake Tahoe Proper is the opportunity to take all of that to an entirely new level.'
History of Glamour and Scandal
The grand reopening comes as the hotel celebrates its centennial birthday. Cal Neva has a long history as the setting for iconic stories in pop culture. The Cal Neva hotel has seen a whirlwind of luck and misfortune in the decades since it opened in the 1920s. It attracted the most famous celebrities during its heyday in the 1960s.
The resort welcomed the epitome of Hollywood glamor, with frequent guests including Marilyn Monroe, Dean Martin, Sammy Davis Jr, and even political heavyweights like former President John F Kennedy. Cal Neva first appeared in the mainstream zeitgeist when actress Clara Bow, widely considered to be America's first 'It Girl,' found herself in a gambling scandal at the hotel's casino. Management accused Bow of owing thousands in gambling debts. She said at the time that she thought the chips were 50 cents, but the resort countered that they were actually $100 each. In a statement to the press, the 'Flapper Girl' denied the allegations but said she would accept the service of legal documents, adding, 'I always pay any honest debts promptly.'
The hotel's casino became a source of controversy once again amid Frank Sinatra's brief stint as a part-owner in the 1960s. The swing singer bought the establishment alongside other Hollywood icons, including Dean Martin. Famous mobster and crime boss Sam Giancana was also rumored to be a silent partner. Giancana was reportedly staying at the hotel the same weekend as Monroe during the last few days of her life.
The last photos of Monroe were at Cal Neva in July 1962. She was seen in a lime-green Pucci blouse and attended one of Sinatra's shows. Buddy Greco, a jazz pianist for Sinatra, recalled: 'I remember it was a wonderful weekend. Marilyn turned up wearing a green scarf, green shoes, green slacks and a green blouse, and looking just wonderful. She turned up in a limousine and put her arms around me. I was very lucky my manager was there to take the photographs.'
Monroe was among many high-profile guests in the hotel's golden era. Sinatra transformed Cal Neva into a hotspot for celebrities. The resort had already seen its fair share of A-listers after it first became a hotspot in the 1930s. In 1935, Judy Garland performed there when she was just 11 years old. Her performance was so captivating that it earned her a contract with MGM, which later catapulted her to stardom.
Cal Neva burned down in a suspected arson fire in 1937. Once it was rebuilt in all its glory, it became a top destination beloved by the Kennedys; however, Sinatra's ownership in the 1960s elevated the spot.
Decline and Revival
Cal Neva's heyday came to an abrupt end, starting with the loss of its gambling license in 1963. The Nevada Gambling Control Board revoked Cal Neva's license in 1963 after officials were informed Giancana had stayed there. Cal Neva's string of good fortune then seemed to come to an abrupt end. In the decades that followed, the resort had multiple owners who could not live up to the establishment's allure in the 60s.
Cal Neva was foreclosed on in 1976, and attempts to reopen have failed. The first glimmer of hope came in 2013 when a $49 million renovation was approved. When that failed, the resort shut down altogether and has been dark since. Billionaire CEO Larry Ellison purchased the property for $35.8 million after the resort went bankrupt in 2018, but barely touched it and sold it for $58 million in 2023.
A New Era
After decades of uncertainty and years collecting dust, the iconic hotel will get a new lease on life in 2027. Realberry and Kor Real Estate Partners promised to preserve Cal Neva's architectural and cultural significance under the resort's new name. The financing also includes $223 million in C-PACE funding from Nuveen Green Capital for energy investments.
Kelly Wearstler, a Los Angeles-based architect and interior designer, was responsible for the interior of Lake Tahoe Proper. Wearstler has previously collaborated with Bergdorf Goodman, Christofle, Farrow & Ball, and Serax, as well as luxury houses such as Dior and Louis Vuitton.
