Paradigm8 to take over Tahoe Mountain Club
The Tahoe Mountain Club, which recently announced it would be closing facilities in February, will continue operation under Paradigm8, a Tahoe-based developer that acquired the club from CREW Tahoe, the club’s parent company.
In an email the club’s general manager, Glen 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 the club viable and is no longer in a position to keep contributing funds.
The closure would have shut down club’s facilities on Feb. 8 had Paradigm8, or another buyer, not intervened.
These 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.
This came after East and West Partners, a real estate development company which previously owned the club, filed for bankruptcy in 2010.
According to Clement, Paradigm8 plans to take over operations in early January.
The company is currently developing the Signature Home Collection at Old Greenwood as well as proposed project within the Gray’s Crossing Community.
Hannah Jones is a reporter for the Sierra Sun. She can be reached at email@example.com or 530-550-2652.