Condo Hotel Center: Property Alert

June 18, 2007

The Water Resort at Pigeon Forge,

Tennessee

From $229,900

Hi! It's Henry Perfilio from Condo Hotel Center. Summer is here, and one of my favorite things to do is visit water parks. Love those slides with 100-foot drops, a wet roller coaster but with no seat and no safety harness. Woo-hoo! Makes you feel like a kid again.

Now imagine that you could have fun like that year round. Feel like joining me for a ride? Then read on to learn about today's featured condo hotel, complete with its own indoor water park!

The Water Resort at Pigeon Forge
If you've been seeking a year-round vacation home that you'll like visiting over and over again, a place the whole family can enjoy and that doesn't break the bank, then you'll love The Water Resort at Pigeon Forge in Tennessee.

The Water Resort with its iconic pyramid is located at the foot of the Smokey Mountains.

Picture this: a 43,000 square foot glass pyramid rising into the sky. That iconic structure will contain a state-of-the-art indoor water park. It will be surrounded by seven modern high-rise condominium buildings, spread across 16.5 acres, all at the foot of the Great Smoky Mountains.

A Value-priced Vacation Home
The one thing I get asked all the time as a condo hotel realtor is, "What condo hotel has the best value?" That is, people want to know what property is not only reasonably priced but offers the most for the money. Well folks, The Water Resort at Pigeon Forge is that property!

At approximately $225 per sq. ft., The Water Resort is one of the best condo hotel values on the market.

While your typical Florida or Las Vegas condo hotel unit will cost you in excess of $1,000 per square foot, the cost of a unit at Water Resort is approximately $225 per square foot!

Why are the prices so much less? Well, let's face it, Pigeon Forge is no Miami Beach or Las Vegas Strip. But that doesn't mean it doesn't have much to offer.

Pigeon Forge Is a Great Family Destination
Pigeon Forge is located within minutes of the Great Smoky Mountains, the most visited National Park in America. Double the Grand Canyon!

The area is also home to more than 40 fun-filled attractions including, Dollywood, the largest amusement park in the state of Tennessee and unique as its namesake and owner, Dolly Parton. We're talking entertaining shows and crafts as well as miniature golf, go-carts, bumper boats, laser games, and indoor skydiving.

There's also Ripley's Aquarium, Harrah's Cherokee Casino, the Bristol Motor Speedway, Tennessee Smokies Baseball, NASCAR Speedpark Racetrack and four championship golf courses.

The local theaters showcase all types of music and shows. There are also five major outlet malls with more than one-million square feet of shopping and over 250 restaurants from fast food to fine dining.

Broad appeal is Pigeon Forge's claim to fame. From music and arts to amusement parks, golf, NASCAR racing, shopping, and outdoor activities, this area has it all.

Pigeon Forge Is a Growth Market
Developers DionasWhelchel Properties have made Pigeon Forge their target market and are launching several large residential projects in the area. They believe (and many others do too) that this is the next "have-to-visit" destination.

Pigeon Forge receives nearly 13 million visitors per year, and that number is steadily increasing. Currently, the Pigeon Forge area, which includes the nearby towns of Sevierville and Gatlinburg, only has about 26,000 rooms available for those 13 million annual visitors, which should help ensure solid occupancy rates for The Water Resort.

The Water Resort is located just minutes from Dollywood and the Great Smoky Mountains.

What makes the Pigeon Forge area so appealing? Consider these facts:

• It offers access to the Great Smoky Mountains National Park.
• 75% of the U.S. population is within a one-day drive of Pigeon Forge.
• Pigeon Forge is one of the fastest growing cities in the South.
• Pigeon Forge enjoys a 65% area annual hotel occupancy rate.
• Tennessee does not levy a state income tax.
• Tennessee has one of the lowest crime rates in the United States.
• Pigeon Forge offers proximity to some great cities: Atlanta - 3 hours, Nashville - 3 hours, Asheville - 90 minutes.
• Average annual appreciation of real estate has been 7%-10% for the past four years.
• World-famous Dollywood, the largest amusement park in Tennessee, is 10 minutes from The Water Resort.

Water Water Everywhere
While there's plenty to do in and around Pigeon Forge, the appeal of The Water Resort is that if you just want to stay on-site, you'll have plenty to keep the family busy.

The Water Resort will feature a 35,000 sq. ft. indoor water park for year-round recreation.

Inside that 43,000 sq. ft. glass pyramid, the resort's state-of-the-art indoor water park will offer year-round fun. The temperature will be a pleasant 84 degrees, 365 days a year and you'll be able to enjoy these features:

• High-speed water slides
• Relaxing lazy river
• Themed waterfall rockscapes
• Shallow activity pool
• Changing room with lockers
• Food bar
• Family arcade

One more plus about this particular water park. It's only open to owners and guests of The Water Resort. The general public is not allowed in. That rule will help keep the condo hotel units filled. Plus, it means the water park won't ever be overly crowded.

The Real Benefit of Indoor Water Parks
Why consider a condo hotel with an indoor water park? Because water parks have a positive impact on condo hotel revenues in these ways:

• Indoor water parks eliminate the weather factor.
  
• Indoor water parks extend peak season from 100 days to 365 days per year -- collect revenues all year long.
  
• Resorts with indoor water parks have a 26% higher occupancy rate than resorts without indoor water parks.
  
• The average room rate is $69 higher than it is for condos and hotels without indoor water parks.
  
• Condos and hotels with indoor water parks are almost 100% filled every weekend and school vacation.
  

Spacious Condo Hotel Units
The Water Resort offers one-, two- and three-bedroom floor plans, ranging from 940 to 1,370 square feet. All condos will have private balconies, providing spectacular views of the Smoky Mountains, Bluff Mountain and surroundings.

Each of the condo hotel units will feature a private balcony overlooking the mountains.

Beautifully handcrafted décor, such as wall art, statues, and pottery will emulate an Aztec theme in keeping with the resort's giant pyramid.

Professionally designed and decorated, the condo hotel units will be delivered turnkey ready-to-use.

The condo hotel units will be delivered fully furnished with the following features:

• Upgraded kitchen appliances
• Fine cabinetry
• Granite countertops in kitchen & bathroom
• Jacuzzi tubs in master bath
• Ceramic tile showers
• Ceramic tile in common areas/carpet in bedrooms
• 32" LCD TVs
• Upscale decorative lighting
• Designer fireplaces
• Private balconies
• High-speed Internet access

The Water Resort condos will have spacious rooms with quality furnishings and finishes.

Construction Is Well Underway
Construction on The Water Resort began in October 2005. Phase I, consisting of four buildings, will be complete by the end of 2007.

Construction on Phase I is progressing rapidly. Phase II construction starts in fall 2007.

Phase II construction will begin in fall 2007 and should be complete in early 2008. The indoor water park should also be complete by early 2008.

Units are available in both phases, so you can choose what works best for your timeframe.

Affordable Prices
The Water Resort is one of the more affordable condo hotels we've ever offered. Check out these prices:

• Prices for the one-bedroom units range from $229,900 to $241,900.
  
• Prices for the two-bedroom units range from $269,900 to $281,900.
  
• Prices for the three-bedroom units range from $297,900 to $309,900.

These prices include all appliances and furnishings. One last comment with regard to pricing and unit availability.

The developers of The Water Resort were just this week interviewed for a major article about their resort to appear in The New York Times. They're being featured as a value-priced family vacation resort offering the unique feature of an indoor water park. You would do best to select your unit before the rush, certain to be created by this publicity.

Condo Hotel Center buyers get a $10,000 discount on Phase II pricing for one- and two-bedroom units.

Want More Information?
We've put together a detailed data sheet on The Water Resort to give you more facts and more pictures about this condo hotel. To receive it, you'll need to provide your contact information in accordance with developer requirements.

Request The Water Resort data sheet here.

Take the Plunge
If you've been thinking about investing in a spacious vacation home that's affordable and is in a growth area with something to offer everyone in the family, The Water Resort condo hotel could be ideal for you.

So, as they say at the water parks, just jump right in. The water's fine!

Henry Perfilio
Licensed Real Estate Agent
Condo Hotel Center
A Division of Sheldon Greene & Associates, Inc.
(843) 685-9281
Henry@CondoHotelCenter.com
www.CondoHotelCenter.com

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