Fairmont Hotels & Resorts, in partnership with Miami real estate developer Gregg Covin, will develop and manage the first luxury private branded residential offering in the Blue Ridge Mountain region of North Carolina. Set to open in 2025, Fairmont Heritage Place - The Cedars, Hendersonville will be a 127-unit luxury residential community comprised of studios, 1-, 2-, and 3-bedroom units and stunning penthouses, with prices ranging from $550,000 to $4m. The development will transform the mountain city that has become the preferred second-home destination for generations of South Floridians and Northeasterners, due to its central East Coast setting and friendly outdoor culture. The Cedars hotel, originally built in 1914, will be restored as the focal point of the development, with two new six-story mid-rise buildings added to the 3.55-acre site.
Owners of the Fairmont-branded residences will have access to luxurious amenities and world-class services at Fairmont’s hotels and resorts. In addition, Fairmont-branded residence owners are invited to join the Accor Ownership Benefits Program, which offers them special residence owner rates at more than 5,000 Accor hotels and resorts worldwide. The Cedars hotel was originally built in Neo-Classical Revival style for Jeannie Bailey, whose husband, railroad tycoon J.W. Bailey, headed Southern Railway at the time.
The property will offer exceptional cuisine and beverage programs, including a signature restaurant, lobby bar, and specialty café, flexible meeting and events space, an expansive wellness center with spa, multiple swimming pools and fitness center, a cooking school, a multifunctional family room, and retail space. Residents and guests have access to a nearby private club with a Tom Fazio-designed Champion Hills Golf Club. The Cedars is the first Fairmont-branded residence in North Carolina and a rare opportunity to own a piece of one of the Blue Ridge Mountain region’s most celebrated national buildings.
Gregg Covin, developer of the project, says that less than two months’ supply of available housing inventory exists in the Western North Carolina region, with demand outnumbering supply. Heather McCrory, CEO of Accor North & Central America, added that Fairmont has been committed to the stewardship of landmark hotels and preserving historic buildings with great care for over a century, and that the company is proud to add The Cedars to its rapidly growing luxury portfolio and continue its legacy for years to come.
