Comerica spokeswoman Kathleen Pitton says San Diego-based Douglas Wilson Cos., the court-appointed receiver for Shanty Creek, is operating the resort. "The resort is expecting to open for golf season," Pitton says.

Comerica began foreclosure proceedings against then-resort owners Go Forward Limited Partnership and LaVanway Capital and Trade Corp. last August, accusing them of defaulting on a $20-million mortgage. The resort, which employs more than 600 people in the peak summer months, is Antrim County's largest employer.

Shanty Creek opened in 1962, Schuss Mountain in 1968. They merged in 1986, creating a 4,500-acre "destination property" consisting of 47 ski slopes, four 18-hole golf courses, miles of cross-country ski and mountain biking trails and hundreds of rooms. The resort is located about 30 miles northeast of Traverse City.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM Digital Member, you’ll receive:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.