In Yosemite, Kingsbarn is seeking access through federal park land that could increase the value of its private property.

In Kings Beach, it is seeking public land, development rights and approvals to unlock a much larger private project.

Different places. Same development model: public assets helping create private value.

In Kings Beach, the public contribution is already considerable. The properties underlying much of 39 North were assembled and held by Placer County. Purchase agreements totaling approximately $4.1 million were approved in 2018 and 2019. Kingsbarn later acquired the buyer’s rights, but the sale still has not closed because it remains contingent upon obtaining project approvals.

In other words, the County continues holding the property while the developer pursues the entitlements that could make it far more valuable. And that is only the beginning.

Placer County has reserved 106 scarce Tourist Accommodation Units for 39 North and has contemplated rebating 80 percent of the project’s hotel tax for 20 years—previously estimated at roughly $22.9 million to $30.9 million.

But in Kings Beach, there is an added problem:

39 North is still too big for little Kings Beach.

It has been reduced from an outlandishly oversized original proposal, but Kings Beach still faces two-lane road constraints, wildfire evacuation problems, limited infrastructure and peak visitor pressure.

Before approving 39 North, Placer County should require a full, defensible CEQA review of evacuation, roadway capacity, emergency access, infrastructure and cumulative North Shore development impacts.