ON LOCATION: The Next Napa Valley
At Algodon Wine Estates, within Argentina’s wine-growing region, Mendoza, savvy buyers can own a piece of what those in the know are calling “the next Napa Valley” for an astoundingly good price.
In the rolling foothills of the Sierra Pintada Mountains at the base of the Andes, the 2,050-acre vineyard estate boasts 301 homesites and 325 acres of wines, 65 of which were planted in 1946, according to Scott Mathis, CEO and founder of DPEC (the investment firm backing the project).
“The price of real estate [in Argentina] is one-eighth to one-tenth of the price that you would see here,” says Mathis, calling from New York City. “To buy anything in any other wine-growing region of the world would cost you between five to 10 times as much.” Purchasing a lot in Algodon Wine Estates, however, will provide buyers with more than just private land to build their own dream home; homesite buyers also own all of the wine produced on their land, which can be bottled with personalized labels and shipped nearly anywhere in the world.
Divided into six characteristically distinct “villages,” the development offers buyers the opportunity to choose which amenities they would like to be closest to, though every village contains vines. In one village, the lots are concentrated around the tennis complex and vines, while in another, the focus is on the two championship polo fields and vines. Additional high-end amenities include an 18-hole golf course, two Mendocian lodges, a clubhouse, an award-winning restaurant and a future luxury hotel. Homesites will be available for sale, starting at $60,000 per lot, within the next 90 days, said Mathis in mid-May.
Most important, says Mathis, is the project’s dedication to producing quality wine. “We have fruit that even Napa doesn’t have, dating back almost 65 years now, and our goal is to make this one of the best wines in the world. As the quality of the wine increases, so does the value of the real estate.”
—Sarah Binder
Going Global
He’s done it again. Located on Punta Pacifica in Panama City and creating a dramatic impact upon the skyline with its epic sail silhouette, the 70-story, 2.9 million-square-foot Trump Ocean Club International Hotel & Tower, the largest real estate development in Latin America, has an estimated project value of $400 million. With a yacht club, private beach club, designer shops, gourmet restaurants, office lofts, 24-hour medical service and more, future residents hardly will ever have need to leave the development. Designed by architect Arias Serna Sarvia and developed by K-Group Developers, Inc., the tower notably is already 80 percent sold, though its target delivery date is not until August of next year. “Other neighboring buildings have had to slow down or have been placed on hold, yet Trump Ocean Club continues to move full steam ahead,” says Roger Khafif, President of K-Group.
Available units, including 509 condominium residences and 126 bay lofts, range from the low $400,000s to $1 million-plus and enjoy unobstructed Pacific Ocean views from private terraces, imported marble flooring and granite countertops, and premium European cabinetry. And because no Trump property is complete without a little gaming, the project also will boast a 45,000-square-foot casino.
Panama City’s Buddha-Bar Hotel & Spa Panamá, Buddha-Bar’s first Oriental-inspired luxury hotel in the Americas, is sure to provide upscale, sophisticated lodging and entertainment to residents of the fast-growing metropolis, as well as out-of-town visitors. The full-service suites will boast cozy, contemporary Asian interiors, while all rooms will enjoy crystal-enclosed rain showers, a signature pillow menu, 24-hour concierge and in-room dining, as well as butler services and personalized housekeeping. The spa is a replica of one of the world’s most celebrated spas, in Evian-LeBains, France. For more information and videos, visit buddhabarpanama.com
—Sarah Binder
Fabulous Finds
In Atlanta, one established high-rise has won a prestigious environmental award, while another new condominium tower is nearing completion this summer.
The Mansion on Peachtree, A Rosewood Hotel & Residence, has been awarded GREENGUARD Building Construction Certification. The non-profit organization GREENGUARD Environmental Institute awards the designation, which is the construction industry’s premier certification for mold and moisture management. The 42-story Buckhead tower is one of the first buildings to meet requirements for this award, which is pending approval by the American National Standards Institute (ANSI) to become a standard for moisture and mold prevention in new construction. A little more than a year old, the building includes 127 hotel rooms, 45 residential units, upscale dining and a spa. In order to ensure continued effectiveness of the tower’s stringent moisture management plan, The Mansion on Peachtree, A Rosewood Hotel & Residence, undergoes quarterly inspections. Dedicated to improving the quality of indoor air, GREENGUARD Environmental Institute establishes acceptable indoor environmental standards for building materials, furnishings, electronic equipment and construction practices.
On track to welcome its first residents by August, The Aberdeen on Paces Ferry, a 12-story luxury condominium in the heart of Vinings, will offer residents unparalleled views of the downtown Atlanta skyline, as well as an Atlanta address with desirable Cobb County taxes. Developed by Taz Anderson Realty Co. and designed by award-winning architect Smallwood, Reynolds, Stewart, Stewart & Associates, The Aberdeen will boast 55 units (two- and three-bedroom homes and penthouses) ranging from $750,000 to more than $2 million. All residences will enjoy Viking kitchen appliances and Waterworks bath fixtures, as well as private balconies. Private beverage lockers, a catering kitchen, a saline pool with an oversized sun shelf and an outdoor terrace with a putting green and bocce court are just a few of the many luxury amenities that will be available to future residents.
—Sarah Binder
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