As the Cal Neva prepares to ring in its 100th birthday this year, the resort is alive with a hum that hasn’t been felt on the shores of Crystal Bay for decades.
But instead of hotel guests seeking shelter from the Tahoe summer sun or grinders at a blackjack table in the dark recesses of the casino, the noise comes from heavy machinery coughing up exhaust into the clear Sierra air as they move mountains of dirt.
The construction work comes with a burst of new funding. Earlier this month, Realberry, a Denver-based real estate investment firm, announced that it had secured $298 million to complete the grandiose Cal Neva restoration project, decades in the making. According to a prospectus that SFGATE obtained, the Cal Neva will see major changes…