The model of high-end resorts within quality master-planned residential communities makes financial sense and adds value to both entities – to the resort and their guests, and to the residential community and its residents.
Libertyville, IL (PRWEB) April 02, 2015
Marian Schaffer, Principal and Founder of Southeast Discovery, a real estate consulting firm specializing in guiding Baby Boomers with their real estate needs in the two niche markets of retirement relocation and second homes in the Southeast region, recently cited the $100 million infusion by developer Crescent Communities for the expansion of The Inn at Palmetto Bluff, to be completed in summer 2016, at the master-planned community of Palmetto Bluff in Bluffton, South Carolina, as part of a tried, tested and proven financial model for master-planned communities.
“Master-planned residential developments that incorporate a resort component onsite have proven to be successful for two reasons,” said Schaffer. “Reynolds Plantation in Lake Oconee, GA has the Ritz Carlton Lodge and Kiawah Island near Charleston, SC has the Sanctuary Hotel. In both cases, the resort traffic has proven to be a tremendous lead source for both of these successful communities. Secondly, the formula of master-planned developments offering a high end resort onsite is one that makes sense financially. The resort guests patronize the golf courses, restaurants, fitness centers and other amenities of the community, which contributes financially to the community as a whole. This takes some of the financial burden off of the residents, who would otherwise carry the burden of these costs entirely. This model keeps HOA fees at manageable levels which in turn is beneficial for the community’s real estate values.”
The expansion of the Inn at Palmetto Bluff, which was renamed The Inn at Palmetto Bluff, a Montage Resort, when Montage Hotels & Resorts, a hotel, resort and residential management company took over management in February 2014, is slated to be complete in the summer of 2016. The expansion will add 150 luxury rooms to the Inn's 50 individual cottages, a premium Spa Montage and fitness center, meeting facilities and expanded dining facilities for guests and Palmetto Bluff property owners. The expansion also includes plans to enlarge the amenities, facilities and services of the property.
Palmetto Bluff, a 20,000-acre residential community and conservation preserve located between Savannah, Georgia and Charleston, South Carolina, is one of the largest waterfront properties on the East Coast. It encompasses an extensive nature preserve, a Jack Nicklaus Signature Golf Course, walking trails, river access, boat storage and canoe club, and restaurants, among other amenities. The array of Southern-style residences in the community range from million dollar family compounds to more traditionally sized, single-family homes.
“We see Palmetto Bluff as one of the finest master-planned resort and residential communities being created today,” said Schaffer. “The community is incredibly beautiful. The raw land includes live oak trees and miles of water frontage. Crescent Communities, Palmetto Bluff’s developer, is further enhancing this gorgeous property with timeless looking architecture, fresh waterway systems throughout the development, miles of biking trails and more. And importantly, we believe in Palmetto Bluff’s financial model, and we believe the expansion of The Inn at Palmetto Bluff onsite will bring in new buyers to the community.”
Other southeastern master-planned communities that have benefitted from a financial model featuring a resort hotel on the property include Reynolds Plantation, a 10,000 acre residential golf and lakefront community at Lake Oconee, Georgia, with its resort component, The Ritz-Carlton Lodge, and Kiawah Island, a private island community located just south of Charleston in the South Carolina Lowcountry, with its onsite resort property, The Sanctuary Hotel.
“The model of high-end resorts within quality master-planned residential communities makes financial sense and adds value to both entities – to the resort and their guests and to the residential community and its residents,” said Schaffer.
About Southeast Discovery
Since 2004, Southeast Discovery has been a trusted resource for candid information and insight on communities, developments, and general real estate in the Southeast. Through its highly-ranked web portal, newsletter and blog and its one-on-one work with clients, Southeast Discovery helps buyers actively looking for a retirement or second home in the Southeast navigate the process of identifying the right area and community for their needs. To learn more, visit http://www.southeastdiscovery.com/.
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