Exciting News to Share: Newly Formed Partnership
Cottonwood Properties, Inc. and I are pleased to announce an important development at The Residences at the Ritz-Carlton, Dove Mountain. The debt on the community, including the Jack Nicklaus Signature Golf Course and The Ritz-Carlton Golf Club has been restructured and a new partnership formed.
In this challenging environment this represents a major accomplishment and is a testament to the integrity of our development team and our vision for the community. It also puts The Residences in an enviable financial position. This recapitalization has been accomplished through a partnership with Ray Sidney, former Google software developer and sustainable real estate entrepreneur.
We are very excited about this opportunity to continue the promise of The Residences. Needless to say the world has changed a great deal since we started creating this community. By responding to these changes with a new capital structure, we are able to re-price our homes and homesites in line with today’s “New Normal” to provide the unparalleled lifestyle at an irresistible value to buyers.
Dr. Sidney, 40, is a Harvard graduate who also holds a PhD in mathematics from the Massachusetts Institute of Technology. He joined Google as a software engineer in early 1999 as the company’s third employee. He left Google in 2003, and has since done considerable philanthropic work, focusing particularly on energy, education, and the environment. He has also become involved in a variety of real estate ventures, beginning with an eco-friendly residential development in Northern Nevada. He was attracted by the obvious aesthetics of The Residences and Dove Mountain and the quality of the existing infrastructure. He is passionate about the community and will work to promote responsible and sustainable development of the land and operation of the amenities.
Property Owners and Members will continue to enjoy the wide array of amenities and impeccable service. The community continues to feature miles of world-class hiking trails, unparalleled access to the fabulous new 250-room resort and spa, dedicated “members-only” access to the Jack Nicklaus Signature Golf Course and the facilities of The Ritz-Carlton Golf Club. For the third year in a row, the Club will play host to the World Golf Championships-Accenture Match Play Championship, featuring some of the best golfers in the world.
New prices for Amolillo single family homes start at $1.1 million; the Seven Saguaros single family homes start at $1.5 million and custom fairway homesites start at $590,000; villas start at $925,000; and the Rockpoint Ridge custom homesites start at $605,000. Early purchasers will also enjoy additional developer incentives that will further enhance the value of their purchase.
Last week we closed escrow on two of our beautiful fairway homesites, so now is the perfect time to continue our conversation about your new home or homesite at The Residences.
I have asked the members of my team to contact each of you to answer any questions you may have and tell you more about our exclusive Golf Membership program which includes a golf membership, special real estate pricing and other additional benefits. And, if you haven’t visited our website lately, please take a few minutes to explore it at theresidencesdovemountain.com.
I look forward to seeing you at The Residences very soon!
Sincerely,
David Mehl
President, Cottonwood Properties
Community Developer of Dove Mountain
Interested in Dove Mountain luxury Arizona real estate? Visit www.theresidencesdovemountain.com .
