I think we might be a bit illusioned by the article that the course is "closed."
I know for a fact that as "The Dragon" they didn't survive, but as somebody already mentioned, they softened the design and reopened as "Nakoma Golf Resort." I've been itching to play this since it opened and have even promised my dad I'd pay his green fee once we got there. Problem is, we never have. That tells you part of the course's problem....location, and short season.
Thing is, there is a new abundance of courses just up the hill a ways in Truckee that seem to be doing just fine. Granted, everyone has had a harder year than most, but two new properties just opened up there and the arrivals of the past decade seem to be holding their own. Just played Old Greenwood on Monday and it was gorgeous and in as perfect shape as I could have wished.
What these Truckee courses have that Nakoma doesn't is alternate entertainment. The little housing that is on Old Greenwood are cabins, most for rent, which works out perfectly for a golf weekend. Also, the proximity of the Lake and all it's trappings and with Reno right over the hill, a mini golf vacation to these courses seems very doable. I think Nakoma, and several others like Darkhorse, were trying to compete in this market and also capture the Sac Valley and Bay Area folk making their way up the hill for a round going or coming. Should the real estate market still be strong, I have no doubt that these homes and lots would sell, as it's not a far cry for a upper class family to live from Sacramento City proper, but far enough removed to really feel like you live isolated in the mountains.
Anyhow, all that being said, their website says stay tuned for their Spring 09 opening dates......so there's hope I may get to play it yet!
http://nakomagolfresort.sports.officelive.com/default.aspx