One of the most remarkable and last remaining, untouched large parcels in Napa Valley is now being marketed by Christie’s International Real Estate in conjunction with its San Francisco-based affiliate Pacific Union, and commercial broker Cushman & Wakefield.
The investment opportunity in Calistoga Hills Resort, a fully entitled, 88-acre property featuring expansive views from its hillside setting in the city of Calistoga, is being offered at a value of U.S. $100 million.
Master-planned and fully supported by the surrounding municipality, the development rights for Calistoga Hills Resort have been meticulously conceived. Due to land scarcity and a local agricultural preserve that restricts subdivision and overnight accommodations in areas of Napa County outside city limits, the project’s entitlements -- which were painstakingly secured over a 15-year period -- allow for a rare opportunity to create an iconic resort community of unparalleled quality within Napa Valley. The development would feature the area’s most luxurious hotel, along with villas and estates, all within a location widely regarded among the world’s most spectacular. An investor would share in the vision advanced in a partnership with the community to mold a legendary destination while protecting the environment and maintaining the purity of Calistoga’s rustic charm.
“The potential for this undeveloped parcel cannot be overstated,” said Bonnie Stone Sellers, Chief Executive Officer of Christie’s International Real Estate. “Given its private setting and significant acreage in the heart of Napa’s wine country, it is truly the last of its kind in the region for the development of a high-end resort and residential enclave.”
The entitlements allow sufficient flexibility to develop the site to the investor’s final specifications. The investor may also choose to create additional amenities to the resort’s offerings by acquiring nearby top wineries and vineyards that may be available for purchase.
“The project’s prime location and capacity for a multitude of exclusive offerings make it a natural draw for international resort clientele as well as global and local luxury residential investors,” said Mark McLaughlin, Chief Executive Officer of Pacific Union. “It’s an extraordinary property.”
James Escarzega, Managing Director of Global Hospitality at Cushman & Wakefield, added, “Based on recent research, the average room rate for hotels at the top end of the market in Napa County is among the highest in the country, approaching $1,000 per night. This is a remarkable development opportunity.”
The current vision for Calistoga Hills Resort comprises three primary elements: a 110-room, five-star luxury hotel inclusive of every amenity possible such as a full-service spa, 20 private villa residences, and 13 world-class custom estates, all set amongst a majestic forest and vineyards. All of the homes would receive the benefit of the hotel services and amenities.
In addition to its central location in wine country, Calistoga Hills Resort maintains a commanding position on a ridge of the foothills of the Mayacamas Mountains – 430 feet above the valley floor -- allowing for east and west exposures, maximum sun and the privacy of a woodland setting. The property is directly accessible from State Highway 29 (Napa Valley’s main north-south thoroughfare) and offers easy access to the City of Calistoga and the valley below.
The City of Calistoga is renowned for its mineral hot springs, gourmet restaurants and its distinct wines, which are globally recognized. Calistoga Hills Resort is adjacent to both Reverie Winery and Von Strasser Vineyard on Diamond Mountain and is within close proximity to Chateau Montelena, Diamond Creek, Frank Family Vineyards, La Sirena, Araujo Estate Winery and Schramsberg Vineyards. Indeed, a leading French vineyard recently purchased property in Calistoga, recognizing the value of the area.
This offering represents a unique collaboration between the Christie’s International Real Estate network and the commercial brokerage operations of Cushman and Wakefield, together attracting high-net-worth individuals, institutional investors and joint developers from all over the world.
For sales inquiries, please contact Zackary Wright of Christie’s International Real Estate at +1 310.385.2680, Hillary Marino of Pacific Union at +1 707.225.3706 or James Escarzega of Cushman & Wakefield at +1 415.773.3586.