Kiawah Partners Releases Tom Watson Lane Homesites (Back )
September 1, 2010
FOR IMMEDIATE RELEASE
Contact: Mike Touhill
Director of Public Relations
Kiawah Development Partners
Kiawah Island Real Estate Sells Out Newest Land Parcel
Consumer Demand Exceeds Available Inventory, Additional Home Sites Released
KIAWAH ISLAND, S.C. (September 1, 2010) - Kiawah Island Real Estate, the real estate brokerage for Kiawah Island, S.C. continues to lead the second home luxury real estate market by selling 11 new home sites during a limited property release. The original property release, called Tom Watson Lane in the private residential community of Cassique, included only nine home sites but was increased to 11 in order to meet the demand of buyers wanting to purchase here. Tom Watson Lane, which is named after professional golfer Tom Watson who designed the Cassique golf course, will include four more home sites slated to be released in the coming weeks.
“This property release is a direct response to the market telling us that people want to purchase second home real estate with a slightly smaller footprint, at a slightly smaller price point compared to what we’ve seen in the past,” said Kiawah Island Real Estate President Chris Drury. “The design and plan for this development reflect the trends that while people are not willing to sacrifice quality and value in luxury goods, they are more apt to buy only what they need versus what they can have.”
The sales price for each of the 11 individual home sites average $525,000, which include a variety of design plans to build a well appointed home on the property for less than $2 million. Each site is approximately one-third of an acre and can accommodate a home as large as 3,500 square feet. All of the properties afford owners a combination of lagoon or lagoon to golf course views. Property ownership on Tom Watson Lane also allows for membership to the private Kiawah Island Club.
“The fact that Kiawah Island is supported by a financially viable developer, a well funded community association and flourishing resort gives prospective home buyers the confidence that purchasing here is a fundamentally sound investment. It’s because of this combination that Kiawah Island is leading the recovery of the luxury real estate market in the southeast and probably nationally,” said Drury.
Through August 31, Kiawah Island Real Estate has closed $159,163,880 million in real estate transactions this year, which include home sites, single family homes and villas. That figure represents a 64 percent increase in closed sales over the same period in 2009.
Kiawah Partners (KP) is the master developer of Kiawah Island, a 10,000-acre barrier island located 21 miles south of Charleston, South Carolina. The company’s subsidiaries include Kiawah Island Real Estate; The Kiawah Island Club, which encompasses the Tom Fazio-designed River Course, the Tom Watson-designed Cassique, The Beach Club by Robert A.M. Stern, The Sports Pavilion, and Sasanqua, the Members-only spa; Freshfields Village; The Lodge at Doonbeg in Ireland; and Christophe Harbour in St. Kitts. For more information, visit www.Kiawah.com.