The former Tahoe Biltmore and Casino project in Crystal Bay, Nevada, is undergoing a restructuring of its project financing while maintaining its commitment to the property's future. The restructuring, deemed necessary for the project's success, aims to utilize a lower cost of capital for the next phase. Plans for site work and property revitalization improvements remain intact despite a lender's Notice of Default in phase one financing, which is said not to impact the restructuring plan. The developers continue to fulfill their vision of a high-quality, community-facing project aimed at revitalizing the iconic Tahoe Biltmore site on the North Shore of Lake Tahoe.