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The golf courses at The Residence Club are an oasis in the middle of the Coachella Valley. |
he real estate market and the travel industry may be struggling, but there has never been a better time to shop for a second home. Almost every luxury hospitality brand around has launched an ownership element, and new properties are being built in every conceivable locale. We’ve rounded up a few standout developments.
COACHELLA VALLEY
The Residences at The Ritz-Carlton, Rancho Mirage Come January, the Coachella Valley will get its first five-star resort – The Ritz-Carlton Rancho Mirage. Atop a 650-foot bluff overlooking the city, the 40-acre resort will be home to 260 rooms, 150 whole-ownership residences with 16 floor plans, a Joachim Splichal restaurant, and rare La Prairie spa. livingranchomirage.com
The Residence Club at PGA West, La Quinta Visitors can build equity while they golf with a one-ninth interest in a 3,365-square-foot vacation home at The Residences at PGA West. The private residence club offers access to the La Quinta Resort and Spa as well as preferential pricing and tee times at five adjacent championship golf courses. The Spanish Colonial homes come fully furnished and equipped with a plunge pool, barbecue and firepit. residenceclubpgawest.com
The Westin Desert Willows Villas, Palm Desert Through the aggressively expanding Starwood Residence Club, part owners of these one- and two-bedroom villas can use their allotted time at the Westin Desert Willows or choose to visit other properties within the Starwood network. Scheduled to open in 2009. starwoodvacationownership.com
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A rendering of the pool view at the soon-to-open Four Seasons Residences in Vail. |
COLORADO
Four Seasons Residences, Vail With only 19 residence club homes, even a one-twelfth deed brims with exclusivity at the Four Seasons Vail. The property is scheduled to open in late 2009 (a completed model opens for tours this month) with two-, three- and four-bedroom homes available for between 21 and 28 nights a year, which can also be traded for time at other Four Seasons properties. Bonus: The ski valet will store equipment year-round and return it to guests with skis freshly waxed and boots warmed. residences.fourseasons.com
The Residences at Park Hyatt Beaver Creek, Vail Due to popular demand, 15 shared-ownership units are now available at the only Park Hyatt in the United States. Five floor plans offer one week of ski-in/ski-out access in the heart of Beaver Creek Village. Owners also accrue points that can be used at 12 other Hyatt Vacation Club resorts. theresidencesatparkhyatt.com
Viceroy Snowmass, Aspen Within the new $1 billion Snowmass Base Village development (dozens of openings start this winter), you’ll soon find the first Viceroy above sea level. In 2010, Viceroy Snowmass will unveil 152 condo/residence rooms, a 7,000 square-foot spa and a service culture that includes personal chefs, sommeliers and concierges who will do the grocery shopping and stock the refrigerator. snowmassliving.com
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The Rosewood Mayakobá offers 4,000-square-foot villas in the Yucatán’s hottest new neighborhood. |
MEXICO
Rosewood Mayakobá, Yucatán Peninsula Cancun’s upscale neighbor, Mayakobá, one of the hottest luxury destinations on the Caribbean, is currently taking shape thanks to four of the biggest names in luxury travel. The Viceroy and Banyan Tree are slated to open in 2009. The Fairmont and Rosewood have already made a splash on the Yucatán scene. To wholly own a 4,000 square-foot villa at Rosewood Mayakobá, which comes with an additional 5,000 square-feet of outdoor living space, contact the resort. rosewoodmayakoba.com
Las Ventanas al Paraiso, Los Cabos For a permanent stake in one of the most romantic resorts in Mexico, check out the residences at Las Ventanas al Paraiso where interiors created by local artisans lead to views of infinity pools and the Sea of Cortez. lasventanas.com
Esperanza, Los Cabos Nearby, Esperanza also has a residence club offering shares in two-, three- and four-bedroom suites. Members get a minimum of four weeks per year with unlimited (and free) use on a space available basis. esperanzaresort.com
Querencia, Los Cabos Golf enthusiasts considering a full-blown second home in Cabo should consider Querencia, an 1,800-acre master-planned private golf community with everything from condos to custom home sites, all centered around a Tom Fazio-designed championship golf course. loscabosquerencia.com
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Infinity pools, daybeds and ocean views are standard at Amanyara. |
CARIBBEAN
Amanyara, Providenciales When it comes to the Caribbean islands, right now it’s all about the Turks and Caicos. On Providenciales, the tiny archipelago’s main island, island-goers will find the luxurious Amanyara resort and its developing villa homes. Three- to five-bedroom homes, some of them oceanfront, offer plenty of opportunity for outdoor living – infinity pools, outdoor baths and showers along with more than an acre of land. amanresorts.com
Parrot Cay A quick boat-ride away is Parrot Cay, a private island and exclusive resort that is now building three- and four-bedroom villas. New owners will join the likes of Bruce Willis, Keith Richards and Christie Brinkley, enjoying the privacy and amenities (think full-size private pool and butler’s quarters) that come along with these 1.5 acre, all-beachfront residences. parrotcay.como.bz
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Get in some golf and relaxation at La Costa Resort Villas. |
SAN DIEGO
Setai San Diego There are certainly more exotic places to visit, but San Diego offers something many resorts can’t – proximity. Second home owners can maximize their getaway time with several options throughout the county. For an urban adventure, check out the Setai San Diego, which is finally on track to open this fall after many false starts. Legendary designers David Rockwell and Dodd Mitchell will work together to create a “Zen chic” décor throughout the 23-story building and its 161 condo rooms and 24 penthouses, all available for purchase. setaisandiego.com
La Costa Resort Villas, Carlsbad Up in Carlsbad, La Costa Resort Villas has started selling phase two of its whole ownership condo units (550 to 1,250 square feet). The fully furnished units come with access to the resort’s fitness center, swimming pools and 17 tennis courts, along with discounts at the 26,000-square-foot spa and two PGA-championship golf courses. lacostaresortvillas.com
Four Seasons Aviara, Carlsbad For a partial-ownership program in Carlsbad, try the residence club at Four Seasons Aviara, which is now selling its new one- and two-bedroom floorplans. residences. fourseasons.com
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Golfing and much more awaits at Kaua’i Lagoons Resort. |
HAWAII
Kaua’i Lagoons Resort, Kaua’i Visitors to Kaua’i have three opportunities to own a piece of the new Kaua’i Lagoons Resort, a 520-acre tropical playground created by a partnership between Marriott and The Ritz-Carlton. Both brands offer whole ownership villas. The 78 two- and three-bedroom homes (1,301-1,665 square feet starting at $1.6 million) at the Marriott will open early 2009.
For a little more than three times the money, you’ll get a home twice the size (plus a 700-2,064 square-foot lanai) at The Ritz-Carlton, which will open next summer. To get in on the action without dropping several million dollars, check out the property’s residence club, which sells 1/18 interests starting at $200,000. ritzcarltonrealestate.com
| How it Works
Whole Ownership As for the investment, the property offers the possibility of appreciation (like a traditional home). The branding power associated with big-name hospitality companies like Starwood and the Four Seasons not only attracts buyers to the properties, it can help those buyers rent out their units, thus defraying the cost of their own precious escapes. Fractional Ownership/Residence Clubs If you like variety, look for international resort chains or ask about alliance programs that will let you buy a fraction of one property in your favorite getaway spot and also allow you access to affiliated private homes in other regions or countries. Destination Clubs |
