TribLIVE

| Business


 
Larger text Larger text Smaller text Smaller text | Order Photo Reprints

Talks under way for sale of Churchill Valley Country Club

Thursday, Jan. 31, 2013, 12:01 a.m.
 

A potential buyer for Churchill Valley Country Club may become public within weeks, though a sale could take months to conclude, according to a receiver for the financially crippled club.

“We are in negotiations with a number of interested parties, all local, who are interested in purchasing the club,” said Maggie Good, president of Meridian Financial Advisors Ltd., the receiver.

Some expressed interest in continuing the club, which straddles Churchill and Penn Hills, she said. Others said it could be converted into a residential or commercial development. A potential sales price isn't set.

Allegheny County Common Pleas Judge Christine Ward placed the club under receivership when PNC Bank filed a lawsuit Jan. 10 to collect $1.4 million the club owed on its mortgage.

Before any sale could occur, Ward, the bank, and the club's board of directors would have to approve, Good said.

“Club members have been trying for over a year to sell the property,” she said.

The club in recent years tried to increase membership but found it difficult to recruit younger members because a traditional country club format doesn't appeal to them, its president, David Reichenecker, previously said.

He declined comment when Meridian became its receiver.

The club is closed in January and February. PNC's lawsuit named Beulah Road Land Co., which holds the mortgage. It listed the club as tenant.

“We have cancelled events scheduled in March but will consider holding any one where there's a definite hardship involved in the cancellation,” Good said.

Maintenance personnel are keeping the property in good condition, she said.

Churchill Valley Country Club was established by W.W. Martin and three friends in 1931 on 119 acres. At its height, it had more than 1,000 members, in large part because Westinghouse Electric Corp. held events and meetings there.

Over the years, the club booked thousands of wedding receptions, business banquets, high school graduation parties, bar mitzvahs and baby showers. In June 1957, it hosted the National Ladies Professional Golf Association championship.

The property includes a golf course, clubhouse, swimming pool and parking for several hundred cars.

Sam Spatter is a staff writer for Trib Total Media. He can be reached at 412-320-7843 or sspatter@tribweb.com.

 

 
 


Show commenting policy

Most-Read Business Headlines

  1. Students walk shop class path to excellence
  2. Lower your cable bill by streaming shows
  3. U-PARC houses companies ranging from innovative to traditional
  4. Deported migrants find home at call centers
  5. States clear way for startups to use crowdfunding
  6. Compelling cases exist for cashing out, staying in as stock market soars
  7. Gas drilling company withdraws application for forced pooling in Western Pennsylvania
  8. Customers anxious for details about Highmark transition plan for W. Pa.
  9. States fight back against financial scams aimed at seniors
  10. PPG research helps vehicle, plane makers cut pounds from products
  11. Healthy PA expands number of recipients but cuts benefits
Subscribe today! Click here for our subscription offers.