CALISTOGA, CA—One of the smallest of any of the 95 Four Seasons properties, the Four Seasons Resort and Private Residences Napa Valley is underway with initial site work. Vertical construction is to begin this summer on the hotel and 20 two-, three- and four-bedroom residences. There will be dual two-bedroom homes and a quartet of four-bedroom homes on the property; the rest will be three-bedroom options.

“We began looking in Napa Valley in 2002,” Kelly Foster, a principal at Bald Mountain Development, tells GlobeSt.com. “Bald Mountain Development found the property in early 2010 after they heard rumors of the Silver Rose Inn foreclosure and the whisper campaign began in November of 2016 to find early buyers.”

The $165 million construction financing has been secured for the five-star Napa Valley resort and residences located at 1334-B Lincoln Ave., according to developers Bald Mountain Development and Alcion Ventures. Holliday Fenoglio Fowler LP worked on behalf of the developers to place the construction loan with Heitman on behalf of one of its institutional investors.

“The financing of this project included competitive bidding and we felt Heitman came to the table with the best solution. This project's complexity required a creative approach. Heitman was willing to navigate these challenges in order to deliver an optimal outcome for everyone involved,” said Foster.

This spring, the foundation and utilities will be in place, followed by construction. The 20 residences are expected to be complete in fall 2018 with the resort to open early 2019. The two-bedroom homes are priced at $3.5 million, the three-bedroom homes are priced at $4.25 million and the four-bedroom homes are available for $5.7 million, GlobeSt.com learns.

“Napa is constrained in terms of supply to buy. There have been 10 home purchases so far,” Foster tells GlobeSt.com. “The buyers are young, tech/finance entrepreneurs and also doctors. Most buyers have new construction or development backgrounds. Knowing it's turnkey new construction and that the Four Seasons staff will be maintaining the properties when residents aren't there is a big plus.”

The residences feature spacious indoor and outdoor entertaining spaces, multiple master suites, a two-car garage, and private terraces with views of the resort vineyard and mountain peaks. Residence owners may choose Four Seasons-approved furnishings and have the option of placing their residence in the short-term rental program with the resort.

Upon completion and after the resort's opening, residence owners will have VIP access to the Four Seasons Resort's amenities and activities, including a restaurant, a spa, and an indoor and outdoor fitness center.

Winemaking has been done on premise since 2012. Residence owners will have the option to collaborate with the winemaker in the wine making process, from harvesting and fermentation to blending and bottling. Owners will also have the privilege of creating proprietary wine blends, tailored to their family's individual preferences, as well as designing custom labels and gift boxes. The winery's private wine room with individual temperature-controlled wine storage, as well as a private tasting area, will be accessible exclusively to residence owners. There will be wine classes for guests as well.

Instant Insights /

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