Tahoe Mountain Club gets new buyer after it announces closure

The Tahoe Mountain Club, a high-end private club in Truckee, Calif. with two golf courses, announced a new owner in December, three days after it told members it would close. 

Paradigm8, a Tahoe-based residential developer, acquired the club from CREW Tahoe. Paradigm8 is a 10-year-old partnership founded by Brian Helm and Hayes Parzybok that is developing homes along Old Greenwood, one of the club’s two courses. It also has plans to develop homes along the club’s other course —Gray’s Crossing.

CREW Tahoe took ownership of the Tahoe Mountain Club 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.

Glen Clement, the club’s general manager, had told members on Dec. 18 that the club would close in February. He said the owners had contributed $14 million during the past eight years in an attempt to make the club viable.

The club had sought potential buyers and had met with several during the prior six months. But none had emerged as ready to buy and so the club announced it would close. That prompted Paradigm8 to acquire the club, rather than see the courses fall apart and the value of the home sites diminish. 

The Tahoe Mountain Club also operates golf shops, a restaurant and the Pavillion, which houses pools, tennis courts, a grill, fitness center, kids camp, and spa.

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