Abandoned resort of Frank Sinatra, Marilyn Monroe, other Hollywood stars returns with $298 million remake

A historic Lake Tahoe resort once frequented by legendary Hollywood icons as well as political figures is preparing for a comeback after more than a decade of closure.

The Cal Neva Resort, which hosted such stars as Dean Martin and Sammy Davis Jr. — as well as frequent guest Marilyn Monroe — is being redeveloped into the Lake Tahoe Proper Resort and Casino, with a planned reopening in 2027, real estate developer Realberry announced.

Frank Sinatra partially owned the property in the 1960s, according to reports.

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Developers recently secured a $298 million financing package to restore the property — marking a major step toward its revival.

"The history of Cal Neva inspired every decision, from the reimagined Circle Bar to the cultural programming we're bringing back to the theater," Brad Korzen, co-founder and CEO of Proper Hospitality, told Fox News Digital.

"The design, the casino and the performances are all a nod to that golden era of Hollywood glamour, but translated" for a modern audience, he said.

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Located along the California-Nevada border, the resort became "a magnet for Hollywood stars," drawing Monroe, Martin and Sammy Davis Jr., along with political figures such as President John F. Kennedy, developers said.

Monroe is said to have spent her final weekend there in July 1962, shortly before her death, according to FOX 2.

We're "creating an experience that feels both rooted in history and completely of the moment," Korzen said.

The showroom's engineering allowed performers to see every face in the audience, while a network of private tunnels allowed guests to move discreetly throughout the property, creating what developers described as an "aura of glamour and mystique."

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Despite its celebrity past, the resort has faced years of uncertainty.

It closed in 2013 for renovations that never materialized. It later changed ownership multiple times, including a purchase by Oracle co-founder Larry Ellison in 2018 before being sold again in 2023, FOX 2 reported.

"With a property as storied as Cal Neva, the approach isn’t about simply re-creating the past, but about being deliberate in what is carried forward," Chad McWhinney, CEO of Realberry, told Fox News Digital.

Nearly a century after it first opened, the redevelopment aims to "reclaim that legacy" while introducing a new era for the property, the company said.

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Plans for the reimagined resort include 197 guest rooms, suites and private villas, along with multiple restaurants and bars, a casino, a spa and event spaces including a restored theater.

Developers say the project is expected to boost tourism and economic activity in the Lake Tahoe region while preserving the resort’s historic character.

McWhinney added, "We are focused on preserving its cultural relevance while shaping a future that feels considered, enduring and deeply connected to Lake Tahoe."