Wednesday, March 9, 2011

Exciting News at ESCONDIDO

Bob Dudley, from Escondido, guest posting. 
While the economic downturn has slowed many markets in the Hill Country, here on-site, sales of individual lots and available residences have continued and Escondido has reached a welcome point of community maturity, as well as a very stable position based on Member growth and with new Equity participation.

Here are some of the exciting events, new offerings and announced happenings that will soon be taking place in the Escondido community:

New Dining Room

1. Our Clubhouse facility is near completion and with the final addition of furnishings and enhancing the Spa, Fitness and Dining amenities, it should be fully operational, by July 4th. The stunning structure will be getting a further $4.6m of additions and improvements between now and its opening.

2. The new Equity Partnership has announced plans to be investing a further $10m to $12m of capital in Escondido to complete the full compliment of promised amenities, add new ones and fulfill Escondido’s Founding Vision – to be the Best 2nd Residence and Getaway Community in Texas. Members approved this by a send-in Vote of 343 to 1. Closing on the Equity Partnership transaction is set for March 18, 2011.

3. A Residence Center offering is in the planning, with elegantly furnished and appointed one, two and four bedroom unit shares to be sold. These will provide for the combination of superb on-property accommodations with full membership privileges, while in residence. Share owners, their families and guests will be able to partake of Escondido’s recreational and lifestyle option.

4. Escondido’s Fazio Course enjoys a reputation as one of the Southwest’s better courses and amongst the finest of member clubs. Our Lake Club on a cove off Lake LBJ is known to be one of the premier pool and cabana sites in the country. Come learn about the plans to enhance these amenities and construct new ones, with a focus on new choices for families and children.

5. Southern Living Magazine selected the Escondido community and its architect, Michael Imber, to design, build and then host their very popular annual presentation of an Idea Home, for 2011. Ten to fifteen thousand visitors are expected to visit the Escondido community during the sixty day preview period, during the coming summer. We have properties starting at $195,000 in our Village area, fabulous, Estate lots by the golf course from $235,000 as well as prime well-treed golf fairway sites starting at under $400,000., large 4 bedroom residences starting at $1.25m and waterside lots with boat dock rights starting in the $700’s.

6. March 1st, some additional assets will be transferred to the non-profit Club Corporation, owned by Escondido’s Members. The value of an Escondido membership, one comes with each property purchase, will then rise to a new defined value level of $120,000. The maturity and stability of the Escondido Club and community are manifested in these escalating figures of the defined Escondido Membership value, since 2004. Some will act to become Member’s before values rise again, with the scheduled transfer of the Clubhouse assets, later in 2011.

7. There are several residences currently under construction, with several additional construction starts scheduled over the next ninety days. The infrastructure is nearly complete for our Lago Escondido community, one residence with stunning multiple water views is nearing completion on the Lago site with three more new homes in various stages of construction on this lovely Big Water sited community. Investments in the erection of second and primary homes in Escondido are but further evidence of the stable position that Escondido has reached. We have a wonderful variety of property for sale with a variety of fairway, creek-side, big-water or a lower maintenance smaller Villa or Casita sites available for purchase, some at economical price points.

Bob was kind enough to share photos.  Check out my web site or Facebook page for more.

No comments: