In the 21 years since it opened, the Topa Tower Club's membership has steadily risen, even nearing a longtime goal of topping 1,000 members.

But then the economy went sour.

"In October 2007 and then November and December, we started dropping," said Vice President and General Manager Robert Lopez. "We lost 120 members in about six to seven months."

Membership at the city club now stands in excess of 800. Paul Leavens, chairman of the Board of Governors, is optimistic that the club will reach its goal eventually.

"It'll happen in the next surge of the economy," he said.

Today, the club will celebrate its 21st anniversary with a caviar and champagne reception, featuring music and a comedian.

Opened in 1987 by the late pioneering real estate developer Martin "Bud" Smith, the glass-enclosed club sits atop the 22nd floor of the Morgan Stanley Tower in Oxnard, the tallest building between the Bay Area and Los Angeles County.

With its 360-degree panoramic view, diners can gaze at the Oxnard plain and on clear days see the Pacific Ocean.

The building was originally supposed to have just 20 floors, but the builders had leftover material so extra floors were added.

"The 22nd floor was supposed to be like a huge pool with gardens," Lopez said. "But I understand it could not be done, and instead they turned that into a private club."

One of Smith's friends was Paul Leavens. The two spent time hunting and horseback riding together. Meanwhile, word spread quickly that Smith's new club was coming together.

"Several of my friends thought it would be a good idea and we got behind it in the early stages," Leavens said. "There was no place that had the ambience potential for a fine dining location with a view the Tower Club has in the county."

To build membership, Smith nudged people to join, remembers another friend and business associate, Richard Shipley of Camarillo. Shipley laughed in describing Smith's soft push.

"He was never obnoxious about it," he said. "Bud was the type of person, when you did business with him, he liked you to do business with him also." Meaning, he continued, "join his club, use his restaurant."

"He had the Midas touch," Leavens said. "Just about everything he went into was successful."

Smith died in 2001. He had sold the Oxnard financial plaza, including two tower buildings, in 1996 to an affiliate of Tiger/Westbrook Real Estate Partners, a Dallas-based company.

It is now owned by Los Angeles businessman John Anderson, who purchased the 13-building Topa Financial Plaza development in 2002 and renamed what was once The Tower Club the Topa Tower Club.

Anderson spent $58 million for the entire development and has made a number of capital improvements since the acquisition.

"Basically, everything that the club generates in the way of profit has been reinvested," said Topa Management Co. President Paul Gienger. Improvements include a renovated lounge and bar area, new carpeting, and the gutting and consolidation of several small rooms into a small dining area.

The property surrounding the club was once largely green but has been developed with shopping, strip malls and gas stations over the years.

The changes don't bother Leavens, who said, "I think it's progress."

During the years since the club opened, countless gatherings have taken place there.

"All spectrum of political groups in the county have used it for various functions, from the far left to the far right," Leavens said.

Notable faces who've graced the club include former Gov. Pete Wilson and U.S. Rep. Elton Gallegly, R-Simi Valley.

The membership roster has also boasted a number of prominent people, including former Ventura County District Attorney Michael Bradbury, former U.S. Rep. Robert Lagomarsino, CSU Channel Islands President Richard Rush and Oxnard Mayor Tom Holden.

Dues for membership, which is open to all, are $90 a month. In addition to the monthly dues, members must spend $125 on food each quarter and pay a one-time initial fee, $1,500 per couple and $1,000 per individual. The fee for corporations (up to five people) is $4,500.

Members indicate that it's worth the price. As Shipley said:

"I think people like to go to a place — I know I do — where I know the people that work there, the waitresses, the waiters and bartenders, and you know other people there that are dining. I like it. I'm not particularly interested in being seen ... but I do like going to a club.

"It's more comfortable than going into a crowded restaurant and you don't know anybody, and you don't know what the food's going to be like."