Sandestin breaks parent company Intrawest’s sales record*, previously set in Whistler, BC

Sandestin Golf and Beach Resort announced the pre-construction sale of 243 condominiums in two towers, called ‘Luau,’ planned for the beachside of the 2,400-acre resort.

“This is our third large-offering sellout in Sandestin in three years, and it has broken Intrawest’s single-day sales record, previously set at the company’s premier ski destination, Whistler, BC.  The success story of Sandestin is just beginning,” said Chuck Cary, Director of Sales for Playground Destination Properties Inc., d/b/a Sandestin Real Estate.

Originally planned for a two-phase release in May 2004 and spring 2005, the Luau offering experienced an overwhelming level of interest, prompting Intrawest, Sandestin’s parent company, to accelerate development and release the second tower one year early.  Luau is Intrawest’s first planned real estate tower offering on Sandestin’s beachside.

Previous high-volume sell-outs include Sandestin’s Village of Baytowne Wharf, initially offered in early 2000.  Lasata and Bahia, the last two of the four initial real estate offerings in the Village, sold out in one day.  With only one Village condominium building remaining to be developed (slated for fall 2004 release), presently all available Intrawest-developed condominiums in the Village are sold out.

Cary attributes Sandestin’s sales boom to the success of the Village and the expansion of resort amenities.  “Sandestin is the only wholly encompassed beach and golf community in the region,“ he said.  “From the Village’s restaurants, nightlife and shopping, to the resort’s expanded amenities, world-class golf and now a world-class medical facility at our gates, Sandestin is truly at the heart of this part of the Gulf Coast.  People want a safe, convenient vacation destination for the whole family.  Right now, only Sandestin fits that bill.”

Luau will add 243 beachside condominium homes to the landscape of Sandestin.  With a fresh, contemporary architectural flavor, Luau’s two towers will create a new beachside icon for Sandestin.  New to Sandestin homeowners, Luau boasts a planned sunset observation deck at its peak (an impressive 200 feet above the Gulf), to be enjoyed by homeowners and rental guests alike.  Plans for Luau include an expansive sun deck and a 4,000-square-foot swimming pool complete with swim-behind waterfall, island oasis, hot tub and tots pool.
 

Prices for studio condominiums at Luau ranged from $229,900 to $299,900.  One-bedroom condominiums ranged from $344,900 to $409,900.  Two-bedroom condominiums ranged from $454,900 to $619,900 and three-bedroom condominiums ranged from $779,900 to $829,900.

Next up for Intrawest at Sandestin is an exclusive 20-home Private Residence Club community on the resort’s last undeveloped parcel of bayfront land, adjacent to the Burnt Pine Golf Club neighborhood.  In keeping with Intrawest’s emerging brand of Private Residence Clubs, Storied Places™, popping up in such select destinations as Whistler, British Columbia; Lake Tahoe, California and Aspen/Snowmass, Colorado; Sandestin’s newest community, known as ‘Inspiration,’ will combine the hassle-free benefits of Chaptered Co-ownership™ and luxuries of Storied Service™ with a coveted Sandestin waterfront location.  The Storied Places™ ownership experience is proposed to be the most intimate and highly serviced in Sandestin and the local area, complete with on-site clubhouse, resident innkeepers, private OnCall™ concierge service, special club memberships and a variety of flexible ownership opportunities.  For additional real estate information, contact Sandestin Real Estate at 800 277-0801 or visit www.mysandestinhome.com.

 

* Sales achieved at selection day

#

 

Sandestin Golf and Beach Resort is a 2,400-acre resort located in northwest Florida, between Pensacola and Panama City, eight miles east of Destin.  Sandestin is an award-winning resort nestled on 7.5 miles of beach and bayfront property featuring 1,300 accommodations and 65,000 square feet of meeting space.  Amenities include The Village of Baytowne Wharf, four championship golf courses, 15 world-class tennis courts, a 98-slip marina, 20 restaurants and eateries, 48 retail offerings, fitness center, salon and day spa, an 18-hole putting course, children’s programs and more.  Resort guests enjoy a wide variety of complimentary amenities, including property-wide tram service, daily use of the Sandestin fitness center (adults only), use of bicycles, canoes, kayaks, boogie boards and tennis court time, plus free cane poles for children to fish our many stocked ponds.  To further enhance the guest experience, Sandestin introduces the Surf Club, the new exclusive VIP section of www.sandestin.com.

 

##

 

Intrawest Corporation (IDR:NYSE; ITW:TSX) is the world’s leading developer and operator of village-centered resorts. The company owns or controls 10 mountain resorts, including Whistler Blackcomb, North America’s most popular mountain resort. Intrawest also owns Sandestin Golf and Beach Resort in Florida and has a premier vacation ownership business, Club Intrawest. The Company is developing additional resort villages at six resorts in North America and Europe. The Company has a 45 per cent interest in Alpine Helicopters Ltd., owner of Canadian Mountain Holidays, the largest heli-skiing operation in the world. Intrawest is headquartered in Vancouver, British Columbia and is located on the World Wide Web at www.intrawest.com.

 

###

 

The statements which are not historical facts contained in this release are forward-looking statements that involve risks and uncertainties.  Intrawest's actual results could differ materially from those expressed or implied by such forward-looking statements.  Factors that could cause or contribute to such differences include, but are not limited to, seasonality, weather conditions, competition, general economic conditions, currency fluctuations and other risks detailed in the company's filings with the U.S. Securities and Exchange Commission.

Contact Info:
Katie Bonjean , Marketing Coordinator
Playground Destination Properties Inc.,
Phone: (850) 622-2180 ext. 226
katiebonjean@sandestin.com
http://www.sandestin.com