Business & Real Estate

Big Tahoe shopping center renamed The Crossing

A well-known South Lake Tahoe shopping center is getting a facelift and a new name.

The Factory Stores at the Y, as it’s now called, will be renamed The Crossing at Tahoe Valley following an extensive renovation set to begin next spring.

The announcement was made by Sutter Capital Group, a Sacramento real estate investment firm that bought the center in January.

The 52,000-square-foot center is half full and was purchased by Sutter Capital from a “special servicer,” a firm that deals with distressed real estate debt. Burke Fathy, managing partner of Sutter Capital, said the center will remain open during the renovation, which should be completed next fall.

Sutter Capital said the renovated center will include an outdoor patio with fire pit, open seating and an event stage.

The center is located at the intersection of Highways 50 and 90.

Dale Kasler: 916-321-1066, @dakasler