Sunday, February 9, 2014

Turnberry Place Las Vegas Condos---> Stirling Club Update

Turnberry Place Luxury Condos in Las Vegas

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The centerpiece of Turnberry Place has always been the Stirling Club.  As you drive through the heavy wrought iron gates past the guard house, in the middle of the four luxury high rise condo towers that marked the inception of Las Vegas' vertical condominium growth, you will see a low lying Tuscan Style structure known as the Stirling Club.  HOA dues in the four towers used to include an extra $480 + per month charge per condo to cover mandatory membership.  Then, Turnberry Partners shut the club down and put it up for sale.  The monthly HOA dues charges that was mandatory for all residents of the towers was deducted and away went the Spa, indoor pool, gym, restaurant, night club, outdoor pool & more. 
 The Stirling Club
Below is an article that appeared in the LAS VEGAS SUN written by John Katsilometes regarding the disposition of the Stirling Club. What great news for the condo owners of Turnberry Place, Turnberry Towers, and for the north end of the Strip.  This Club used to be such a great place  - Sunday brunch with lobster & champagne galore used to be one of our favorites.  We are excited to have it re-open!

• Having been sold for $10.5 million to a group of investors led by Silicon Valley entrepreneur Carlos “Art” Nevarez, the Stirling Club at Turnberry Place remains closed with no specified time frame for reopening. There was one letter of intent issued to the new owners of the property, for about $14.5 million, delivered less than a week after the Nevarez group bought the property.
That type of quick offer leads to the possibility that the group could simply “flip” the property for a swift and healthy profit. However, Jason Abrams, the Las Vegas real-estate agent who brokered the sale of the Club in November, says the owners are still interviewing potential operating companies and reviewing proposals to reopen the club, even in scaled-back form, as soon as possible. The company has been paying salaries to on-site engineers, fees, electric bills … and none of that outgoing money is being offset by dues-paying members or activity in the club.
What does seem certain is the club will not be in a partnership with the Turnberry Place Master Homeowners’ Association, as discussions centering on how to enforce a membership-dues program with residents have stalled. Whenever and however the Stirling Club (which is still in great shape, overall) does reopen, prospective club-members will deal directly with club officials, not the HOA.

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