August 15, 2023

Fairmont Announces Branded Residence in North Carolina

Fairmont Hotels & Resorts, which is part of the Accor hospitality group, has unveiled its first branded residence in North Carolina's Blue Ridge Mountain region. The hotel chain is set to transform The Cedars, a historic property, into 127 luxury apartments. The neo-classical revival brick hotel was originally built in 1914 for the wife of railroad tycoon J.W. Bailey. Fairmont plans to renovate the original property and add two six-story mid-rise buildings to create the new private branded residence. The property is slated to open in 2025, and it will comprise one-, two- and three-bedroom units and spacious penthouses with private balconies.

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Gregg Covin, a Miami real estate developer, is partnering with Fairmont Hotels & Resorts for the project. The property is special to him because it is where his family grew up, and his wife is the daughter of the current owners, Fran and Tom Shipman. Fairmont Heritage Place – The Cedars is the latest branded residence added to the luxury hotel group's expanding collection, which includes outposts in Florida, Vancouver, and Dubai. Future owners will enjoy a range of amenities, including a signature restaurant, an expansive wellness center, a cooking school, and access to a nearby private golf club.

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Heather McCrory, CEO of Accor North & Central America, said the hotel chain is "proud to add The Cedars iconic landmark to our rapidly growing luxury portfolio and continue its legacy for years to come." She added that it is a rare opportunity to own a piece of one of the Blue Ridge Mountain region's most celebrated national buildings. Fairmont Hotels & Resorts is renowned for restoring historic properties to their former grandeur, and this project is no exception. The Cedars will be the most luxurious branded residence offering in the state, according to McCrory.

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Fairmont Heritage Place – The Cedars (“Residential Project”) is not owned, developed, or sold by Accor Hotels & Resorts (Maryland) LLC or its affiliates. Cedars Lodge & Spa, L.L.C., a North Carolina limited liability company (“Licensee”), is independently owned and operated and is solely responsible for the ownership, development, and operation of the Residential Project. Licensee uses the Fairmont Brand and certain Fairmont trademarks pursuant to a limited, non-exclusive, non-transferable and non-sub licensable license from Accor Hotels & Resorts (Maryland) LLC. Under certain circumstances, the license may be terminated or revoked according to its terms in which case neither the individual residential residences (“Residences”) nor any part of the Residential Project will be identified as a Fairmont branded project or have any rights to use the Fairmont trademarks. Accor Hotels & Resorts (Maryland) LLC does not make any representations or guarantees with respect to the Residences or the Residential Project and is not responsible for Licensee’s marketing practices including this website, advertising, and sales representations.

This is not intended to be an offer to sell, or solicitation to buy, condominium units to residents of any jurisdiction where prohibited by law, and your eligibility for purchase will depend upon your state of residency. This offering is made only by the Public Offering Statement for the condominium and no statement should be relied upon if not made in the Public Offering Statement required by the North Carolina Condominium Act. No real estate broker or salesperson is authorized to make any representations or other statements regarding this project, and no agreements with, deposits paid to or other arrangements made with any real estate broker are or shall be binding on the Developer. All improvements, designs and construction are subject to first obtaining the appropriate federal, state and local permits and approvals for same. These drawings and depictions are conceptual only and are for the convenience of reference and including artists renderings. The developer expressly reserves the right to make modifications, revisions, and changes it deems desirable in its sole and absolute discretion. The project graphics, renderings and text provided herein are copyrighted works owned by the developer. All rights reserved. Unauthorized reproduction, display or other dissemination of such materials is strictly prohibited and constitutes copyright infringement.