While the whole-ownership market continues to struggle, developers and buyers are seeking alternatives that make sense in any market
Chicago, IL (Vocus) June 20, 2008
DCP International (DCP), private residence club industry leader headquartered in Chicago, announces the addition of three diverse developments to its expanding roster of clients. Pioneer of the Equity Residence Club℠ concept and in its 17th year of operation, DCP recently launched three new clubs in Nantucket, MA; Huatulco, Mexico; and Seacrest Beach, FL.
“While the whole-ownership market continues to struggle, developers and buyers are seeking alternatives that make sense in any market,” explains DCP Partner Steve Dering. “As a result, we’re seeing increased interest in the residence club concept because it continues to grow in popularity and has the ability to withstand an economic downturn.”
Highly respected resort market research firm Ragatz Associates reported continued growth in the residence club industry in 2007 with an estimated sales volume of $1.2 billion, a 12 percent increase over 2006.
“We attribute that growth to greater consumer awareness and acceptance, especially in relation to its advantages over whole-ownership and timeshare models,” explains Dr. Richard Ragatz, founder of Ragatz Associates.
Located in Huatulco, Encanto Villas & Residence Club is DCP’s second project in Mexico. It is the first Mexican development for Cincinnati, OH-based developer Jeffrey R. Anderson Real Estate, Inc. Little known to Americans but a popular destination for Mexico’s elite, Huatulco is emerging as a top notch, eco-friendly destination with 42,000 acres of preserved forest. Encanto Villas & Residence Club, a unique waterfront development, incorporates a design inspired by its natural surroundings. Huatulco features nine bays along the Pacific Coast, allowing owners to enjoy pristine beaches, unspoiled views, jungles and rivers for years to come. Plans call for a total of 83 fully furnished residences with introductory pricing starting at $150,000 for a three-bedroom and $190,000 for a three-bedroom penthouse. Club amenities will include a beach club, boat docks, multiple pools, and a spa and fitness center. Phase one completion is scheduled for winter 2009.
Magnolia Private Residence Club, situated on Florida’s Emerald Coast, is desirably located along Highway 30-A, a scenic coastal road that stretches between Destin and Panama City. Less developed than its neighboring cities, the area is renowned for its sea-oat covered dunes, freshwater lakes, and protected open space. Miles of sugar-white sand beaches and southern hospitality lure families to 30-A. Magnolia offers furnished, three-bedroom residences starting at $159,000. Owners will enjoy a protected boardwalk access to the beach, state-of-the-art fitness center with sauna and steam room, kids activity room, and use of Club bicycles. The rooftop, with its sweeping views of the Gulf, features a pool, jetted spa, two grilling areas, and an owner’s lounge. Magnolia’s opening is planned for fall 2008. The developer is Axiom Capital Group, LLC of Destin, FL.
Offering seclusion combined with proximity to Nantucket’s historic Main Street, Harborview Place consists of ten charming cottages located on a quiet, sandy beach. Owners enjoy use of Club boats, other water toys and private beach services. Whole ownership of a Harborview Place residence is available in addition to one-eighth deeded interests. Three residence types, all with water views, are offered to accommodate varying owner needs. Handsome hardwood floors, top-quality cabinetry, appliances and fixtures, state-of-the-art entertainment systems, energy-efficient fireplaces, sumptuous furnishings, luxurious linens, and exquisite accessories are harmoniously blended into each home. Additional services include on-site concierge, on-island transportation, business center, laundry, housekeeping and private storage. Residence club ownership starts at $495,000 and the first residences will be available for owner use in Summer 2008. DCP is a partner in Harborview Nantucket, L.P., the Club’s development company.
DCP International℠ pioneered the Equity Residence Club℠ concept in 1992 with the Deer Valley Club at Deer Valley Resort in Utah and is the most experienced consulting firm in the industry. Residence clubs offer owners unlimited use and an affordable, hassle-free way to own luxurious vacation real estate. DCP has more than $2 billion either sold, under contract or in development. The company has provided expertise in design, marketing and sales to private developers on more than 30 projects in the United States, Mexico, the Caribbean, and Europe.
Hilary Reiter and Tiffany Tyler
hilary @ deringelliott.com | tiffany @ deringelliott.com