Old Greenwood, Gray’s Crossing golf courses, other businesses to close in Truckee (updated)
UPDATE: Monday, Dec. 24, 2018 — The Tahoe Mountain Club is expected to continue operation under Paradigm8, a Tahoe-based developer that has acquired the club from CREW Tahoe, the club’s parent company.
TMC General Manager Glen Clement says Paradigm8 plans to take over operations in early January, according to an updated story, meaning the club’s amenities are no longer expected to close in February.
The original story from Dec. 21 is below.
TRUCKEE, Calif. — The Tahoe Mountain Club informed its members that on Feb. 8, it will be closing all facilities, as the owner no longer has the finances to keep the club up and running.
“They can’t keep putting more funds in right now,” said Glen Clement, the club’s general manager.
According to an email Clement sent to club members to notify them of the closure, he said the owner has contributed $14 million over the past eight years in an attempt to make Tahoe Mountain Club viable and is no longer in a position to keep contributing funds.
“Despite all of the owner’s efforts, the Club has never been economically viable,” Clement said in the email.
This comes after East West Partners, a real estate development company which previously owned the club — now known as Mountainside Partners — filed for bankruptcy in 2010.
Clement said in the email that the club has made significant efforts to find a new owner and operator.
“We’re actively accepting reasonable offers,” he told the Sierra Sun newspaper.
However, he said in the email to members, “no definitive party has emerged to take over and pay for the Club, whether in cash, assumed liabilities, or a combination thereof.”
According to Clement’s email, the club’s facilities affected include Old Greenwood and Gray’s Crossing golf courses and golf shops, PJ’s restaurant and the Pavillion, which houses pools, tennis courts, Bearfoot Bar & Grill, Bear Necessities, the fitness center, Kids Camp, and The Retreat.
The Alpine Club and Ski Valet at Northstar California will also be closing, while Schaffer’s Camp, a lodge at the top of Zephyr chairlift, will not be opening this season and all reservations have been canceled, Clement said in the email.
Until the Feb. 8 closure date, the other facilities will remain open with all scheduled member events to continue through the end of January.
All employees at the club have been notified that they will no longer have their jobs come February. At this time, Schaffer’s Mill is recruiting employees from the club as well as members, offering their current members a $2,500 credit at the Mill for referring a new guest, according to an announcement sent to members.
Per the agreement, Caesars will continue to operate Harrah’s for the first half of 2020 before it’s redeveloped into a non-gaming hotel and mixed-use development.