There's something new in the air. Élan Collection co-founders are changing the face of private residence clubs.
Newly founded private residence club, the Élan Collection, has recently purchased some land in Tamarack, Idaho on which to build their first club. The contract is for 60 upscale, resort condominium residences in a prime ski-in, ski-out slopeside location. Starting at 2,000 square feet, each of these condos will be available for reservations as early as December, 2007. The club is expected to be in full operation by spring of 2008.
But that's not all the Élan Collection has to offer new member/owners. Industry giants, David M. Disick and Don and Andrew Pitarre co-organized the club. Their model is to offer affluent vacationers the fee-simple concept of private residence clubs with the variety and flexibility of a destination club.
"I came up with the idea for the Élan Collection when friends in the industry were looking for a workable business plan to combine fractional ownership with the network aspect of destination clubs," says David M. Disick, Élan co-founder and expert in the private residence club real estate sector. "This intrigued me. I thought combining the best of both worlds would be a good thing."
Disick is no stranger to birthing multi-million dollar ideas. He was the creator and co-founder of the infamous Franz Klammer Lodge in Telluride, Colorado-the private residence club that started the fast-growing luxury fractional ownership industry.
In addition to the luxury condos at Tamarack, the Élan Collection has multiple projects at various stages of contract negotiation. Future Élan sites include: Vail, CO; the Hamptons, NY; Burgundy, France; Whistler, Vancouver, Canada; and San Francisco. There will be three types of properties, the luxury division will include both town homes and condos starting at 2,000 square feet, and the estate division will have trophy single family homes ranging from 5,000 to 6,000 square feet. The property-to-member ratio can vary based on the resort, but the club does favor an 8 to 1 ratio.
Disick is optimistic about his new business venture. "Because we are combining the best of both worlds we expect to expand rapidly, but not too rapidly," states Disick. "We will grow in a prudent fashion. It is essential to maintain the highest level of quality and service."
In addition to owning a piece of prime real estate, the services and amenities new owners can expect from The Élan Collection are a 24/7 lifestyle concierge, airline reservations, reservations for resort activities, a private wine label, exclusive Élan jewelry and clothing, and luxury vehicles or motorcycles for use at most locations. Yearly dues will also include repairs, refurbishment, and property taxes.
Club administrators are still negotiating properties, so unit prices and annual dues are currently unavailable for print. The Élan Collection's website is simply a placeholder at the moment, but will be expanding before Thanksgiving.
We'll be sure to keep you posted on this new venture which is setting out to offer the best features of private residence clubs and destination clubs.
Note, that David Disicks partner in the first private residence club - Franz Klammer Lodge - was Tom Fulton who is now running Epiphany Clubs.