homeWelcome, sign in or click here to subscribe.login
     


 

 

Real Estate


Subscriber content preview

November 25, 2008

Yellowstone Club will be out of cash Friday

  • Huge loans were taken out to develop a ski hill, golf course and condos near Yellowstone National Park. When the credit crisis hit, the money dried up.
    • By MATTHEW BROWN
    Associated Press Writer

    BILLINGS, Mont. — Running out of money may seem unlikely for a private resort whose members includes billionaire Bill Gates and Los Angeles Dodgers owner Frank McCourt, but that's the fate that will befall the ultra-exclusive Yellowstone Club this week unless it can line up another loan.

    Less than two years ago the club's owners were pursuing ambitious plans that they said included the world's most expensive home, a $155 million, 53,000-square-foot behemoth complete with heated driveway. That project was never built. Now the Yellowstone Club is one of at least four high-end resorts that have sought bankruptcy protection in recent months.


     
    . . .


    To read this story in full login or purchase a subscription.



    
    Email or user name:
    Password:
     
    Forgot password? Click here.