RealEstateDevelopment

The Fairchild Tribeca

Filed under: Estates, Real Estate Developments

The Fairchild development in New York's North Tribeca neighborhood has a bit of a celebrity appeal. James Gandolfini is said to be an investor in the project and owns a unit in the project which is a collection of 21 townhomes, penthouses and lofts, many with 22-foot ceilings, private balconies and terraces. Last year, the NY Post reported that Jessica Alba checked out a few penthouses in the building and Victoria's Secret model Adriana Lima also did a bit of browsing. As Curbed reported last month the Fairchild recently went over the 50 percent sold mark.

The project was newly constructed by Karl Fischer Architecture but designed to fit into the neighborhood with a traditional red brick façade and oversized arched windows . The interior of each home boasts plenty of natural light and walnut stained flooring along with fixtures and finishes handpicked by interior designer David Howell. The custom-designed Poggenpohl gourmet kitchen has a CeaserStone countertop and backsplash, Sub-Zero refrigerator, built-in Wolf cooktop and oven, Miele dishwasher, and stainless steel Sub-Zero wine cooler. Bathrooms include large travertine tiles, Calcatta gold marble countertops, walnut stained vanities, and herringbone detailed floors.

Amenities include a 24-hour attended lobby with full concierge services, refrigerated grocery storage, private outdoor space, and direct elevator access to each home. Residents also can also enjoy the Shibui Spa at The Greenwich Hotel, which includes a lantern-lit swimming pool and lounge under the roof of a 250-year-old wood and bamboo farmhouse. The hotel's fitness center includes state-of-the-art equipment and trainers available upon request. A unit currently listed at $3.995 million includes an indoor basketball court, three bedrooms and an outdoor terrace with 648 square feet of space.

Tags: james gandolfini, JamesGandolfini, new york city real estate, new york city real estate development, NewYorkCityRealEstate, NewYorkCityRealEstateDevelopment, real estate development, RealEstateDevelopment, the fairchild tribeca, TheFairchildTribeca, tribeca

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Lake Las Vegas Ritz-Carlton Set To Close

by Deidre Woollard (RSS feed) —

Filed under: Luxury Travel & Hotels, Real Estate Developments

More bad news out of the Lake Las Vegas development. We've been watching the resort area slowly implode since last June and now USA Today's Hotel Check-In says that the Ritz-Carlton Lake Las Vegas will shut down at the start of May putting around 400 people out of work. The 348-room resort is owned by Village Hospitality, an arm of Deutsche Bank which has decided to case funding the hotel.

It's the latest blow to an area that has been hard hit in the recession. The resort destination, 17 miles away from the Las Vegas strip, features a manmade lake surrounded by an Italian-style village. It started off with grand fanfare as a quiet luxury alternative to the high-powered glitz of the Las Vegas strip. Real estate boomed and several different hotels settled in. But in the developer, Transcontinental Corp., lost the property in foreclosure after defaulting on $540 million in loans and the new owners of Lake Las Vegas filed for Chapter 11 bankruptcy in 2008. The Reflection Bay Golf Course at Lake Las Vegas closed last August leaving just one course, the private SouthShore course in Henderson, available for play. The Lake Las Vegas real estate market remains clogged with multimillion homes. The resort area faces many challenges including a still-slumping Las Vegas tourism market, a second home market that refuses to rebound and a water bill that runs into the millions jacking up the homeowners association fees.

Tags: lake las vegas, LakeLasVegas, nevada real estate, NevadaRealEstate, real estate development, real estate developments, RealEstateDevelopment, RealEstateDevelopments, ritz-carlton

Martis Camp, Luxury Living In North Lake Tahoe

by Deidre Woollard (RSS feed) —

Filed under: Real Estate Developments

News of real estate rebounding in North Lake Tahoe. Martis Camp, a private, gated community that stretched over 2,177 pristine acres in North Lake Tahoe that has a maximum of 653 homesites. Home sites range from $450,000 to $2 million. Before the real estate crash from September through December of 2007, Martis Camp sold 11 lots. From September through December of 2008, they only sold four lots. But from September through December 2009 the community sold 24 lots indicating a renewed interest in luxury getaway homes. Most of the buyers are cash buyers.

The community includes a 18-hole Tom Fazio golf course and offers direct ski access from Martis Camp to Northstar via the Martis Camp Express Lift. Martis Camp also includes a Family Barn complex that has a summer swimming venue, bowling alley, movie theater, indoor basketball court, soda fountain and outdoor concert park. The Family Barn also includes the art loft which is a space for Club members to attend art classes and create sketches, paintings and sculptures. The community also includes the Lost Library, a cottage situated in the wooded sanctuaries of Martis Camp, that has books, a fireplace and cozy chairs for reading. Buyers can use any builder they like for construction as long as the homes stays within relatively flexible established design guidelines in order to preserve the charm of the area.

Tags: lake tahoe, martis camp, MartisCamp, north lake tahoe, real estate development, RealEstateDevelopment

Solar-Powered Community Under Construction In Southern California

by Deidre Woollard (RSS feed) —

Filed under: Green, Real Estate Developments

California has been gradually making inroads into adding solar panels onto homes but it has been slow going. One developer, Comstock Homes, may change all that, developing what they call the nation's first single-builder, solar-powered community. The Villages at Heritage Springs will be located on 54 acres in Sante Fe Springs, California. There will be over 500 homes which will be available from styles ranging from two-story townhouses to three-story free-standing homes.

Homes will have double-pane windows, energy-efficient lighting, heating and air-conditioning, cool roof tiles and a tankless water heater. SunPower solar roof tiles will power their lights, appliances, TV and other electronic devices and can save owners up to 60 percent on their electric bills. Move Trends reported last month that five models of the Villages at Heritage Springs are listed from $534,000 to $569,000. The project should be completed within three years.

[via Springwise]

Tags: community, real estate development, RealEstateDevelopment, santa fe springs, SantaFeSprings, solar panels, SolarPanels

Leviev Rolls The Dice On Former NY Times Building

by Deidre Woollard (RSS feed) —

Filed under: Real Estate Developments

The other day I wrote about the troubles facing diamond billionaire and property investor Lev Leviev. But don't count the Israeli billionaire out yet. His Africa-Israel company has announced new plans for the former New York Times Building on West 43rd Street in New York City. Leviev bought the building in 2007 for the ridiculous price of $525 million and then announced he would be turning it into high-price office building spending $170 million in the process. But then the commercial market dipped and offices were unoccupied.

Now, as the NY Times reports, Leviev's latest plan is to take that 15-story building and turn it into a consumer palace with retail space that includes restaurants, shops, a bowling alley and nightclub. That would be topped by a high-end hotel and crowned by penthouse condos. The NY Times' Charles Bagli questions whether or not this plan will be any more successful than the last one given New York City's lackluster tourism and real estate markets. But Leviev is by nature a gambler and risk taker and selling condos and hotel space is a bit akin to selling diamonds, it's all about the dream and perceived value. And what better place for dreams than Times Square?

Tags: lev leviev, LevLeviev, new york times building, NewYorkTimesBuilding, real estate development, RealEstateDevelopment

Is It The End For Dubai's World?

by Deidre Woollard (RSS feed) —

Filed under: Real Estate Developments

What in the world is happening to The World? The London Times reports that one of the world's most ambitious building projects, a series of islands in the Arabian Gulf shaped like a map of the Earth, may be in real trouble. We've been following this project for years watching as various people laid claim, or were rumored to have laid claim to country-named islands. Richard Branson even planted a Union Jack on one of the islands as one of his infamous stunts. But now the project is becoming an ocean wasteland, a half-finished project of rocks and sand surrounded by breakwaters. Work has stopped inside the manmade lagoon and instead of neatly defined islands in the shape of recognizable countries and continents, ragged sandy blobs pushed barely above the water remain. The Times article quotes a Dubai property agent as saying that the project has been cancelled, a fact which leaves many investors in the lurch.

Source

Tags: dubai, real estate development, RealEstateDevelopment, the world, TheWorld

Houston Building Projects Suffer In Credit Crunch

by Deidre Woollard (RSS feed) —

Filed under: Real Estate Developments

Just about every city is facing a building challenge these days. The Houston Chronicle recently rounded up a bunch of commercial real estate projects that have either been delayed or put on hold in the past six months. Part of the problem is finding financing. Banks are no longer willing to make big construction loans in this uncertain market, consumers are less likely to buy condos that they see are being riskier investments and it is harder for many to get mortgage approval. For Houston part of the problem is also the falling oil prices. Several of the developments that have been scrapped or delayed are luxury residential buildings as shown in the gallery below.

Gallery: Houston Building Projects

Source

Tags: building, condominiums, condos, houston, real estate development, RealEstateDevelopment

Work Stops At Vancouver's Ritz-Carlton Tower

by Deidre Woollard (RSS feed) —

Filed under: Real Estate Developments

Construction has stopped at the site for the 58-story Ritz-Carlton tower in Vancouver. The real estate developer, the Holborn Group, says that the work stoppage is not due to the economic crisis but that they are looking at design changes to the structure and attached parkade. The $500 million project is currently just a hole in the ground. Workers have been sent home and the signs announcing the building were removed. The sales office is now only open by appointment. So far 50% of the condo project has been sold (20 stories are planned for the hotel and 38 for the condo units). No word yeti on when the project will resume. The luxury condos have been priced between $2.5 million and $10 million, with the penthouse priced at $28 million.

Source

Tags: real estate development, RealEstateDevelopment, ritz-carlton, vancouver

Tiger Woods Plans Golf Community In Mexico

by Deidre Woollard (RSS feed) —

Filed under: Sports, Real Estate Developments

Tiger Woods has announced his latest golf project, Punta Brava, a private golf and ocean club community on the Baja Peninsula south of Ensenada, Mexico about 40 minutes south of San Diego. Punta Brava sits on the tip of a peninsula that extends seven miles into the Pacific Ocean making for beautiful views on the planned 18-hole par 70 oceanfront course. The project also includes 40 estates lots ranging from three-quarter to three acres and priced between $3 million and $12 million, 30 Individual-own villa residences of 4,500 to 7,000 square feet, 60 Partnership villas of 4,500 to 6,500 square feet and a 20-villa private hotel for residents and their guests. There will also be a private clubhouse, an ocean club, a wellness spa and multiple dining venues. Construction is set to begin early next year with completion by 2011. it's a gorgeous spot but the prices seem a bit ambitious for what used to be an area best known for spring break on the cheap for California college students. He's hardly alone though, Trump has a project nearby which has been selling well.

Source

Tags: baja, golf, mexico, punta brava, real estate development, RealEstateDevelopment, tiger woods, TigerWoods

Sexy Spokesmodel Pushes Condo Contest

by Deidre Woollard (RSS feed) —

Filed under: Real Estate Developments

There are many creative ways to sell condos in these desperate times. I've seen developers offer up free cars, trips, bottles of wine, resale guarantees and yes, I've seen plenty of contests but this is the first one I've seen with a spokesmodel. A developer in Canton, Massachusetts has had some trouble selling their Canton Park condo complex so they are giving away one in a $50-per-entry contest with YouTube videos hosted by the lovely Gisele Sterling in a bikini.

The unit is worth $235,000 and to win the free condo, you'll have to submit the best written essay or YouTube video on one of four topics: why you are Boston's biggest sports fan, your most embarrassing moment, what super power you wish you had, or a showcase of your or your pet's unique talents. The contest hopes not only to get rid of one unit but hopefully to attract attention to the complex so others sell too. It got my attention. Entrants have until September 30 to enter the contest.

[via Boston Herald]

Source

Tags: canton, condo, condo contest, CondoContest, condominium, massachusetts, real estate development, RealEstateDevelopment

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