PRESS AND NEWS

06/30/09: SEASONS POISED FOR REAL ESTATE MARKET’S IMPENDING RECOVERY

Sandpoint, Idaho (June 10, 2009) – As real estate experts carefully predict a gradual gain after the real estate market hit bottom, Seasons at Sandpoint’s luxury residential community seems to be positioning themselves for the comeback. Nestled along 1,800 feet of private lakeshore on a peninsula adjacent to downtown, this nine-acre resort-style development has seen sales and traffic steadily increasing over the past three months. Seasons at Sandpoint features 72 completed condominium homes and eight three-story townhomes that are now under construction. Seventy percent of the inventory is sold out. The community’s unique ambiance and upscale amenities include a marina, a clubhouse with lounge, day spa, fitness center, and a lakefront pool and hot spa.
 
As a significant sign of the development partnership’s financial stability, all of the existing bank debt at Seasons was recently paid off in full. “The financial strength of our partnership and viability of the development allowed us to put this project in a secure place, during this difficult economic environment. We believe the retiring of all debt at Seasons is a strategy that places us in a uniquely strong position as the real estate market has begun to recover, allowing Seasons to offer incredible sales incentives that we are excited to pass on to our buyers.” stated Jae Heinberg, president of the developer BVG Incorporated.   “By creating a stable financial environment and by offering these sales incentives, buyers will now have the opportunity to purchase a residence at Seasons at Sandpoint for an exceptional value.”
 
About Seasons at Sandpoint
At full build-out, the waterfront residential resort and spa will include seven buildings situated along the waterfront with a private beach, marina and walking path with condominium and town homes all surrounding The Retreat, an 11,000 s.f. private clubhouse with The Spa at Seasons. Represented by Tomlinson Sandpoint Sotheby’s International Realty, the Sales Gallery and furnished model residences are located at Seasons at 424 Sandpoint Avenue. Open Monday through Sunday. Call (208) 265-4420 or visit www.seasonsatsandpoint.com.