Keen-Summit and Berkadia are pleased to present for sale two adjacent development sites in downtown Truckee, CA totaling 13.37 acres. These sites, known as the Trout Creek District (“Trout Creek”) and the Industrial Heritage District (“Industrial Heritage”), represent two of the three districts within the 75-acre Truckee Railyard Master Plan (the “Railyard”). The approved master plan allows up to 85 residential units on the 5.44-acre Trout Creek District and up to 181 residential units and up to 19 live/work units on the 7.93-acre Industrial Heritage District. A developer would also have the option to build up to 5,000 sq. ft. of retail and up to 61,250 sq. ft. office on Industrial Heritage District.
The Railyard is half a mile from the charming historic downtown on Donner Pass Road. Many of the buildings housing restaurants, shops, and taverns date back to the 1870’s. Residents will be able to walk downtown for “Truckee Thursdays” in the summer or fine dining after a day on the slopes in the winter.
For skiers and snowboarders, Downtown Truckee is the base camp for seven local ski resorts, including Tahoe Donner, Northstar, Boreal, Sugar Bowl, Donner Ski Ranch, Palisades Tahoe, and Mt. Rose. Residents are also a short drive from Lake Tahoe, and from the casinos and restaurants just over the Nevada border.
The Tahoe area has seen significant population growth in recent years, driving home prices in Truckee up 51% in the past five years. With zero residential projects of scale currently under construction in Truckee, the Railyard’s unique, walkable downtown location presents a compelling opportunity to build luxury homes in a highly supply-constrained market.
PROPERTY RENDERINGS
INVESTMENT HIGHLIGHTS
Generational Development Opportunity in the Nation’s Fourth-Most Affluent Mountain Town
- Located at the east end of historic Downtown Truckee, Trout Creek and Industrial Heritage represent two landmark housing developments proposed to deliver 186 residential units and ±11,000 square feet of retail space to a world-class recreation destination in the heart of the Sierra Nevada mountains.
- The Offering represents two out of the three districts within of the Truckee Railyard Master Plan, a 75-acre mixed-use development transforming former lumberyard land and expanding the existing downtown district – featuring a vibrant mix of high-end retail, a boutique hotel, grocery store, new Truckee Transit Center, class-A office space, pickleball courts, and more upon completion.
186 Luxury Homes with Streamlined Path to Tentative Map
- With approvals in-place for the Truckee Railyard’s master plan, development agreement, zoning, and EIR, Trout Creek and Industrial Heritage are expected to have a streamlined path to design-related approvals and tentative map.
- Offering decreased affordability requirements with 10 low-income housing unit credits allocated to the Sites and serving as a key component of Downtown Truckee’s future transformation, the Offering presents developers with the opportunity to acquire two exceptionally-located sites – benefiting from nearly 20 years of thoughtful planning since the inception of the Railyard’s redevelopment in 2008.
Railroad Adjacency Provides Access to Accretive Financing & Grant Funding
- Strategically positioned within a half-mile of the illustrious Truckee Rail Station, Trout Creek and Industrial Heritage have unique access to accretive financing options in addition to credit assistance and grants targeted at large-scale transportation projects.
- A January 2026 analysis produced by Urban Innovations LLC suggested that the future developer of the Sites could utilize long-term loans through the Railroad Rehabilitation and Improvement Financing (RRIF) program with interest rates as low as 4.9%, along with up to ±$14.4MM in grants through the Federal Transit Authority’s Build America funding.
Irreplaceable Location at the Heart of Lake Tahoe’s Premier Lifestyle Offerings
- The Sites are ideally situated within steps of Truckee’s charming Downtown district, the mountain town’s epicenter and a primary retail hub for the greater Truckee-Tahoe region featuring a diverse array of restaurants, cafes, coffee shops, cocktail bars, breweries, boutiques, art galleries, museums, and hotels.
- Occupying ±13.4 acres of exceptionally rare real estate along the Truckee River, Trout Creek and Industrial Heritage are conveniently located within a 25-minute drive of Lake Tahoe, 10-minute drive of Donner Lake, and within 45 minutes of 12 ski resorts – delivering direct access to the region’s most sought-after outdoor recreation.
- Located within 1-mile of Interstate-80 and the Truckee Amtrak Train Station, within 10 minutes of the Truckee Tahoe Airport, and within a 45-minute drive of Reno-Tahoe Regional Airport, future residents will enjoy a diverse array of transportation options offering seamless travel to and from Trout Creek and Industrial Heritage.
The Right Project for Truckee’s Rapidly Expanding Demographic
- Fueled by high demand from second-home buyers and remote workers, average home prices in Truckee have skyrocketed 51% since January 2020 as Tahoe’s regional housing deficit has climbed to over 3,500 units per a report from The Concord Group.
- Presenting a mix of high-end housing options and desirable amenity package complete with a pool, spa, gym, and onsite retail, Trout Creek and Industrial Heritage represent two vital housing developments for Truckee’s increasingly expansive and affluent population – forecasted to grow 15% by 2030 as median household incomes increase by a projected 47% to ±$220,000 over the next five years.
