Long-delayed SilverRock Resort in La Quinta finds new owner
LA QUINTA, Calif. (KESQ) - After years of delays and legal wrangling, the SilverRock luxury resort in La Quinta has just closed escrow with its new owner.
As we reported, a bankruptcy judge approved a $65-million sale of the property earlier this year to Turnbridge Equities.
The long-delayed project, also known as TALUS, had been stuck in bankruptcy court for more than a year when the site's prior owner filed for chapter 11 bankruptcy.
The new plan reduces the project's scope from two luxury hotels to one and includes a realigned golf course, a new clubhouse and dozens of condos.
There will be a formal presentation by the developer at the La Quinta council meeting in late January.
News Channel 3 will continue to follow the latest developments.
