Jul 2, 2015, 1:30pm MDT
Stephanie Guzman
Albuquerque Business First
The Canyon Club in Albuquerque's Four Hills neighborhood has begun a new round of investment funding, offering dozens of shares in order to raise an additional $1.6 million for the 18-hole golf course and its facilities.
Six investment partners took the Canyon Club out of bankruptcy in 2013 and then successfully sold 134 shares in about two years. Now, there's 66 shares left to sell, according to partner Bill Golden, the owner of Golden Equipment Co. The other partners include Jeff Stuve, principal of C&S Real Estate & Development, Paul Cauwels, John Heer, and brothers Jerry and Larry Lujan.
Golden said the plan is to invest all the money back into the facility, which is located at 911 4 Hills Rd. SE — near Central Avenue and Tramway Boulevard. "We have a laundry list of things we'd like to do," Golden said.
The list includes an irrigation project, more remodeling phases of the clubhouse and to install a new fitness center. Golden said the operation will continue to remain debt free as it continues the ongoing renovation work. Golden and his partners are also planning more community outreach by hosting charity golf tournaments and neighborhood meetings.
"[Canyon Club] has helped stabilize the neighborhood. We're starting to see the area come back to life and we think we're a big part of that," Golden said.
So far, the partners have put money into the clubhouse and a complete renovation of the restaurant and bar — Manzano Grille. Dinner options include main course favorites, daily specials, Southwestern and seasonally-made meals.
A "grand opening-open house" for the restaurant is scheduled for July 3, where 150 "dining memberships" will be offered.
Canyon Club has more than 500 general members and about 200 golf members, with another 100 golf memberships available, Golden said.
