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Pre-Sales for Kirkwood Private Residence Club Match Industry Records

Pre-Sales for Kirkwood Private Residence Club Match Industry Records

News
posted: 05/16/2007

May 16, 2007
KIRKWOOD, CALIFORNIA - (News Release) - With a pre-construction sales launch of nearly 50%, Expedition Lodge at Kirkwood Mountain Resort, Lake Tahoe's first on-mountain Private Residence Club, compares with the most successful in ski country.

Expedition Lodge is located at the heart of Kirkwood's Mountain Village, just steps from five major chairlifts. The spacious luxury on-mountain residences are one-eighth interest for seven units with private amenities and top level staff dedication including an outdoor spa, fitness and owner's club, game room, wine bar, ski valet, ski storage, grocery services, dinner and ski school reservations, child care and more. Kirkwood is known for its world class snow, terrain, intimacy and spectacular high alpine setting and has a Master Plan in place to guarantee its acclaim as one of skiing's most exclusive and desirable mountain retreats.

"Our vision of a world class residence has been met by notable demand and these are owners who truly understand the incomparable lifestyle Expedition Lodge will offer, stated Tim Cohee, president of Kirkwood Mountain Realty and resort president from 1993-2006. Chris Tivey, president of Gravity Attracts Properties, has been involved with Private Residence Clubs since the first opened at Deer Valley in 1993. "The level of sales at Kirkwood compares favorably with the best pre-ground breaking sales of the most successful Private Residence Club projects since Deer Valley, stated Tivey. There are only 15 Founder's Club memberships remaining for Expedition Lodge. These first buyers are designated Founder's Club Members and will receive more than $20,000 in rewards and ski benefits. Interchangeable ski privileges will be provided for four members of the immediate family while in residence, as well as expanded perks for parents, grandparents, children, grandchildren, and guests of the family. This marks the first time Kirkwood has issued interchangeable passes and the response has been immediate.

"Living at Expedition Lodge fits our needs perfectly since our family goes to Kirkwood about five times per season, said John Polk, a Lodi resident and Founder's Club member. As another special bonus for early purchase, buyers will receive four free ski passes per day before the official opening of Expedition Lodge, and seven years of ski privileges following, regardless of whether owners are staying at the property. Founders will also have the opportunity to experience Kirkwood's exclusive Expeditions programs with a variety of resort-managed summer and winter activities like fly fishing, guided hiking, children's on-mountain overnight events, celebrity Expedition Clinics, Powder Cat skiing, and more. For a limited time (estimated until mid-summer), Kirkwood will be extending Founder's ski benefits privileges to those reserving units and signing contracts during the purchase process. The three- and four-bedroom homes range from 2,260 to 2,680 square-feet and are within a five-story classic high-alpine lodge faced with extensive rock and heavy timber exterior. Prices are under $400,000 for the three-bedroom residences and in the mid $400,000s for the four-bedroom units.

Recently, the ceiling price of more than $2.5 million was reached, setting a new record at Kirkwood for price per-square foot -- slightly over $1,000, making it comparable to other top resorts in North America. Three of the five bids were well over the minimum asking price.

The typical use plan for a Private Residence Club provides for two weeks of prime winter and summer use with unlimited flexible use during non-peak periods year round. Owners may reserve seven-day blocks or break their time into three- and four-day stays. In addition to experiencing one of the nation's premier winter resorts literally steps from their front door, Expedition Lodge owners will have access to an array of summer activities in the Kirkwood valley wiithin close proximity, including mountain biking, tennis, climbing wall, ropes course, golf, hot springs, lake activities, as well as fine dining and world-class entertainment at nearby South Lake Tahoe.

Groundbreaking for Expedition Lodge is scheduled for September 2007, with completion in Summer of 2009. For more information on Kirkwood's Expedition Lodge, please call 1-888-567-7827 or visit www.expeditionlodge.com.

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