Pictured: Old Greenwood Golf Course
The membership of the Truckee, Calif. property, which includes the Old Greenwood and Gray’s Crossing golf courses, had been informed that a closing was planned for February 8. But an acquisition by Paradigm8, an area developer, has since been reported.
The Tahoe Mountain Club (TMC) and Old Greenwood and Gray’s Crossing golf courses in Truckee, Calif. are expected to continue operation under Paradigm8, an area developer that has acquired the club from CREW Tahoe, Northern Nevada Business View reported.
TMC General Manager Glen Clement told Northern Nevada Business View that Paradigm8 plans to take over operations in early January and that the club’s amenities are no longer expected to close in February.
Northern Nevada Business View had previously reported that Tahoe Mountain Club had informed its members that on February 8 it would be closing all facilities, as CREW Tahoe no longer had the finances to keep the club up and running.
In an e-mail that Clement sent to club members to notify them of the closure, Northern Nevada Business View reported, he said CREW Tahoe had contributed $14 million over the past eight years in an attempt to make Tahoe Mountain Club viable but that “Despite all of the owner’s efforts, the Club has never been economically viable.”
CREW Tahoe took ownership of TMC after East West Partners, a real estate development company that previously owned the club, and that is now known as Mountainside Partners, filed for bankruptcy in 2010, Northern Nevada Business View reported.
In addition to the Old Greenwood and Gray’s Crossing golf courses and golf shops, TMC’s facilities and amenities include PJ’s restaurant and the Pavillion, which houses pools, tennis courts, the Bearfoot Bar & Grill, Bear Necessities, the fitness center, Kids Camp, and The Retreat.
The Alpine Club and Ski Valet at Northstar California were also scheduled to close and it was announced that Schaffer’s Camp, a lodge at the top of the Zephyr chairlift, would not be opening for the season and that all reservations had been canceled.