Truckee has grown dramatically over the last 20 years.  Most of the city is now new, but the historic section has been preserved.  There are now many shops in the old buildings featuring hand-crafted artwork, specialty foods, and a wealth of shopping fun.  The centerpiece of Old Town is the railroad station that still gets passenger trains from the Bay Area or Reno.  More frequent service is by bus (Amtrak) that uses the railroad station as a terminal.

From Alpine Meadows, take Rt 89 North and turn right on West River Road (there's a light).  Turn left on Bridge Street when you reach town.

See the following links for more information.
Downtown Truckee
Map of Shopping Area
Old Town Truckee