Press Release: Tonopalo
May 9, 2002
SAN FRANCISCO, CA -- In a private sales event held Tuesday in San Francisco, Calif., Graham Properties, LLC in
conjunction with Playground, a division of Intrawest Corporation, announced nearly $11 million in sales of its
newest resort location, Tonopalo. This sets a record in the fractional real estate industry due to the fact that
sales averaged $600,000 per interest.
"Yesterday's success confirms that demand for this type of product is strong," said Howard Kruschke,
Director of Sales for Playground, a division of Intrawest Corporation, selected by Graham Properties, LLC to handle
the sales and marketing for Tonopalo. "With interests in the residences selling in the $360,000 to $800,000
price range, Tonopalo offers the quality and service of luxurious resort home experience at a fraction of the cost
of whole ownership," he adds.
According to a well-known developer who purchased at the private sales event and who requested anonymity, "Tonopalo
offers all the full services of a five-star resort with the appeal and warmth of a mountain home."
Developed by Graham Properties, LLC, groundbreaking of the $66.5-million project will begin this month and will
include 19 luxury residences, 1,647 to 3,022 square feet each, situated on 270 feet of beach property.
"Allowing people to own their own piece of paradise - rather than just dreaming about it - is our goal with
Tonopalo," comments Michael Graham of Graham Properties, LLC. A local himself, he adds, "The Tahoe area
provides a unique combination of relaxation and adventure, allowing owners to leave their everyday concerns behind
and really immerse themselves in the tranquility of Tonopalo's surroundings." The project will be built by
SMC Construction of Reno, Nev. and managed by Storied Places, an Intrawest Corporation subsidiary dedicated to
developing and managing exclusive shared ownership communities in the world's most extraordinary places.
The exclusive private residence club offers owners a luxurious lakefront retreat with unparalleled resort amenities
- without the full responsibility of second home ownership. Tonopalo provides deeded real estate ownership and
the rights to a minimum of seven weeks per year of usage in three- or four-bedroom homes coupled with services,
amenities, privacy and the exclusivity of a private membership club.
Designed to meet the desires of the discerning families who want the enjoyment of a fine vacation home coupled
with the pampering and service usually associated with five-star resorts, Tonopalo will offer an exclusive retreat
for residents.
At Tonopalo, residents can expect a level of service that simplifies and enriches leisure time so that all they
need to concentrate on is doing what they love most. This "storied place," is founded on a personal knowledge
of each owner and is focused on anticipating and fulfilling every unique need before it arises. The service staff,
which includes an innkeeper couple, valet and concierge, will provide owners an insider's knowledge as well as
an understanding of the fine art of living. This professional staff will also offer services ranging from securing
the best table at the top restaurant in town on a busy weekend, to stocking wine cabinets and refrigerators with
the owner's favorite selections.
Private residence clubs have emerged as a rapidly growing alternative to whole ownership of luxury vacation homes.
Research has shown that while most private residence club owners can afford a wholly-owned vacation home, they
elect to purchase a co-owned interest to avoid the responsibility associated with second homeownership maintenance,
as well as to take advantage of the first-class services and amenities that they cannot get with whole ownership.
More information on Tonopalo's exciting beachfront residence opportunities can be found at www.BeachFrontTahoe.com
or by calling (866) 866-6725.
Intrawest Corporation (IDR:NYSE; ITW:TSE) is the leading developer and operator of village-centered resorts across
America. The company owns nine mountain resorts, including Whistler/Blackcomb, North America's most popular mountain
resort. The company is headquartered in Vancouver, British Columbia and is located on the World Wide Web at www.intrawest.com.
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Contact:
Tonopalo
Laura Barber, 530/546-1526
lbarber@greatplaygrounds.com
or
Switchback Public Relations & Marketing
Brinn Wellise/Elena McCoy, 530/550-2252
brinn@switchbackpr.com
elena@switchbackpr.com