Homestead Preserve Announces Final Phase I Home Site Purchase Opportunity

Hot Springs, VA – July 29, 2005 Homestead Preservewill hold its final Selection Day event for Phase I home site sales at The Homestead in Hot Springs on Saturday, September 24.  A total of 35 home sites will be available for purchase in the Old Dairy and Sheep Meadow neighborhoods.  Priority reservation deposits are now being accepted from potential purchasers who wish to reserve an appointment for the one-day sale.

Since January, Homestead Preserve has sold 104 home sites at values totaling more than $45 million.  Road construction is underway as is restoration of the Old Dairy complex, comprised of a landmark three-story barn that is being renovated into a community center and several adjacent historic structures that will house a fitness center and other amenities for Homestead Preserve owners.  Construction of several Homestead Preserve residences is planned to begin in September.  

Homestead Preserve is a unique, conservation-based second home community situated on 2,300 acres around the villages of Hot Springs and Warm Springs in Bath County, Virginia. The development is limited to 450 homes, each of which will be built in historic architectural styles native to the Alleghany Highlands of Virginia on lots ranging from ½ to 10 acres in size.  The community, located near the famous Homestead Resort, borders both the GeorgeWashingtonNational Forest and the Warm Springs Mountain Preserve owned by The Nature Conservancy.

Homestead Preserve’s Director of Sales and Marketing, Steve Schneider, says he fully expects all 35 home sites to sell on September 24.  “Two weeks ago, we had our first resale of a Homestead Preserve home site located in the Sheep Meadow neighborhood,” he says.  “In less than 24 hours, we had the site under contract for nearly $1 million.  Clearly, there is a demand among buyers for the kind of environmentally sensitive community we are creating here.”

The Selection Day event on September 24 will be the last opportunity for buyers to purchase new home sites in Phase I of Homestead Preserve.  Managing director Charles Adams says the 35 properties up for selection include some of the community’s most desirable locations with convenient access to both The Homestead resort in Hot Springs and the Old Dairy community center in Warm Springs.

Homestead Preserve developers Charles Adams and partner Don Killoren were instrumental in the design and development of Celebration, Florida, near Orlando, which was hailed as the “Most Advanced Community in the Country from 1996-1998” by The Guinness Book of World Records.  Crosland, Inc. of Charlotte, NC is a financial partner in Homestead Preserve, and Crosland’s President and CEO Todd Mansfield was also directly involved in the development and success of Celebration, Florida.  Crosland, Inc. is one of the Southeast’s leading and most diversified real estate companies.  For more information, call Deborah Huso at (540) 839-5147, or e-mail writewell@tds.net.