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Overview The Fairmont Heritage Place is a private residence club offering fractional ownership of two-and three- bedroom residences at Ghirardelli Square, in the north side of San Francisco between Fisherman’s Wharf and the Marina neighborhood.

Location

In the heart of San Francisco, a block from the Bay and steps from Fisherman’s Wharf. Originally the production site of the San Francisco confectioner, Ghirardelli Square opened its doors in 1893, and various building were added in the following years by the Ghirardelli company founder, Domingo, and his sons. In order to ensure its preservation for future generations, Ghirardelli Square was granted National Historic Register status in 1982, making it a San Francisco landmark.

Status

Occupancy is slated for spring 2008. Units are currently in the pre-sale phase, which began on January 1st, 2007. Management would not disclose the units’ sale status.

Details

Fairmont Heritage is currently selling 1/10th deeded ownership interests starting at $250,000. Owners receive 5 weeks with their purchase, two of which can be used at any Fairmont Hotel or Resort. If owners want to use more than their 5 weeks, they can use available homes at the property on a space-available basis at any time for a “per night” charge. Management would not disclose the amount of this charge.

Owners will also be offered membership at the Fairmont’s President’s Circle, the invite only club within Fairmont that represents the top 5% of Fairmont clients. Time allocated at the Ghirardelli Square property can be exchanged for stays within any of Fairmont’s worldwide hotels and resorts.

Resale Options

Fairmont Heritage Place will provide guests with pre- and post- sales assistance, although resale assistance is not confirmed.

How It Looks

Fairmont Heritage Place at Ghirardelli Square offers two and three bedroom units with views of the North Bay. Amenities include dedicated parking, priority access to the Square’s restaurants and services, private landscaped terraces with outdoor fire pits, 24-hour concierge, personal grocer, personal belongings storage program and private club and board rooms. Units will be equipped with Subzero appliances, wine refrigerators and built-in coffee machines in addition to plasma televisions. Residences will also have in-home fireplaces and fire pits on the terraces.

Helium Report Perspective

When it opens, the Fairmont Heritage Place will be the second largest private residence club in San Francisco. The Ritz-Carlton Club and Residences located in the financial district will be nearby, but the Fairmont will offer a different ambiance; close to the water and the Fisherman’s Wharf tourist area.

The developer of the project, JMA Ventures, has previous experience in residential and hospitality projects, but Fairmont Heritage Place is the one managing the fractional sales and management. Fairmont Heritage Place is a private residence club collection offering vacation home ownership in various locations. Their first residence club, located in Acapulco, opened in September 2004 and is already in its third phase. Fairmont also manages the Franz Klammer Lodge in Telluride, Colorado and planning is underway for Fairmont Heritage Place homes in Idaho’s Tamarack Resort, Turks & Caicos, and Zimbali, South Africa.

As we said before , we expect demand for private residence clubs to exceed supply in the next few years. With very few competitors in the local market, Helium Report predicts the Fairmont Heritage Place at Ghirardelli Square to be sold out soon.

Other private residence clubs in San Francisco include Resort Equities’ Odeon Penthouse and the Ritz-Carlton Club and Residences.