The Latest in Luxury Resort & Real Estate News

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Construction Moves Forward at Fairmont Hot Springs

(FAIRMONT HOT SPRINGS, BRITISH COLUMBIA, CANADA) -- Following a successful sales season in 2009, construction is moving forward on home sites at Fairmont Hot Springs Resort.

Fairmont Hot Springs Resort launched its Mountainside Ridge home sites in June of last year with amenity-based incentives including golf, ski and hot springs passes. Now they are continuing to offer value for buyers with a variety of home-building options.

"We're working to take the uncertainty out of building a vacation home by working with local builders to give homeowners the flexibility to choose the option that meets their needs," says Dan Oliver, resort property specialist at Fairmont Hot Springs Resort. "Our strategic partnerships allow owners at Fairmont Hot Springs to either build the luxury home of their dreams, or build on a budget and even put in their own sweat equity."

One of the innovative options being offered by Fairmont Hot Springs Resort is custom homes from Timko Developments. These custom homes are designed with homeowners before they are built at an Alberta plant, then the stick frame walls are transported to Fairmont Hot Springs for final construction.

"Due to our manufacturing process, construction time is reduced significantly compared to other options in the Columbia Valley," says Ron Davidson, Columbia Valley project manager. "Home buyers also have the option to finish their homes themselves after we complete the exterior construction."

A fully constructed 1,500 sq. ft., 3-bedroom, 2-bathroom cottage-style home from Timko starts at $350,000. But if buyers want to finish the interior of the home themselves, the exterior and framing of the same home is only $155,000.

Construction time for a fully finished Timko Home is four to six months, but the exterior shell can be completed in only two months.

"Homes from Timko are very flexible and homeowners can choose anything from a complete home, to a shell, and everything in between to meet their budgets," Oliver says. "This gives homeowners the chance to save money in areas where they may have the ability to do the work themselves, or simply stretch the timeline as funds allow.

Home site prices at Mountainside Ridge start at $114,900 for 1/3-acre home sites and there is a flexible construction schedule, allowing owners to break ground up to five years after purchase.

Fairmont Hot Springs Resort is also working with Ski Home, a custom home builder based in Invermere, B.C.,  to provide complete design and construction services for home buyers to make their dream home a reality.

Construction has begun on a 2,400 sq. ft., 3-bedroom, 2 1/2-bathroom contemporary mountain style bungalow at Mountainside Ridge that is setting a new architectural tone for the Columbia Valley. The home has finishings with bamboo flooring, maple cabinets, stone and timber exterior and a steel roof.

Fairmont Hot Springs Resort offers 45 holes of golf with Mountainside, an 18-hole par-72 Canadian PGA-rated course, 18-hole Riverside golf course set on the majestic Columbia River with the rugged Rocky Mountains as its backdrop and Creekside, a par-3, 9-hole layout.

Located In the heart of British Columbia's Columbia Valley, on Hwy 93/95, Fairmont Hot Springs is one hour north of Cranbrook, B.C. and three hours west of Calgary.

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Costanzo Named President of Balsam Mountain Preserve

(SYLVA, NC) -- Resort industry veteran will oversee the next phase of development and operations at Balsam Mountain Preserve, the luxury residential community in the heart of the Great Smokey Mountains near Asheville, N.C.

Ken Costanzo, the former president of Gary Player Real Estate, has been named president of Balsam, which features an Arnold Palmer golf course and 4,400 acres of nature preserve surrounding 354 home sites, seventy percent of which have already been sold. Costanzo will be accountable for all club operations, managing the community's extensive facilities, and the sale of its 123 remaining available homesites.

Announcement of Costanzo's appointment was made by Mark Antoncic, the managing partner of TriLyn LLC, the institutional real estate investment company representing the residential community's owner, Vestlyn BMP LLC.

"We're extremely excited about Ken leading this project to its completion and realizing its promise as one of the country's most desirable resort communities," Antoncic  said.

Costanzo said: "It's a privilege to be involved in the Balsam community, which offers such exceptional resort amenities in one of America's most beautiful and peaceful settings. I look forward to working with all our homeowners and our entire team as we bring this wonderful project to fruition."

Costanzo has 25 years of real estate and business operations experience, including the development and management of high-end residential properties around the world. He has successfully led and advised development teams for major real estate projects in the U.S., Canada, the Caribbean, and South America. Costanzo has also served as the former chief operating officer at The Cliffs Communities where he managed all facets of operations spanning seven master-planned resorts in the U.S. and Canada.

In prior years, the Greenville, S.C., resident held several general management positions with W. R. Grace & Co., a $7 billion corporation whose worldwide businesses included real estate construction, restaurants, retail, and manufacturing operations.  He holds both a BA and Masters degree and resides in Greenville, South Carolina.

Nestled in the Western North Carolina Mountains near Asheville, Balsam Mountain Preserve features 32 miles of hiking trails, fishing streams and other amenities, all of which have been completed. Homes constructed at Balsam represent some of the finest examples of high-end mountain architecture in the country. Seventy percent of the property has been placed in a permanent conservation easement to protect its present park-like state.

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