Nakoma Resort – Clio, California
Discover more at www.NakomaResort.com.
Located in California’s Sierra Nevada just one hour north of Lake Tahoe, Nakoma is a gated luxury resort community of only 400 homesites across 1,280 acres. The development was master planned by Taliesin, the Frank Lloyd Wright legacy architecture firm. The centerpiece of the resort is the 24,000 square foot Clubhouse designed by Frank Lloyd Wright himself in 1917, and built to his exact specifications in 1999. The building is a certified Wright structure by the Frank Lloyd Wright Foundation, and is the only clubhouse that he ever designed.
Schomac acquired the resort and all of its assets through a Chapter 7 liquidation proceeding in 2010 with the goal of rehabilitating the existing amenities including the Clubhouse, Robin Nelson designed 18-hole Championship Golf Course known as “The Dragon”, and 12 golf villas (also designed by Taliesin). In addition to these existing facilities, the property provides the opportunity to continue developing further amenities such as a lodge, marketplace, recreational facility, tennis & sport courts, and additional Villas, to name a few.
The 24,000 square foot, 42-room Lodge at Nakoma was completed in the summer of 2015 and is currently open for business. The 14,000 square foot recreational facility known as Altitude opened during the summer of 2017. Inside Altitude, property owners and resort guests will discover an outdoor resort pool and spa, children’s learning center with outdoor play area and splash park, climbing wall, state-of-the-art fitness center, locker rooms with steam showers, 20-seat movie theater, teen center with gaming tables and video games, outdoor amphitheater, and a bar & bistro.
The 12 existing villas have been converted into the Residence Club at Nakoma, a shared ownership opportunity. An additional 40 villas are planned with 3 models anticipated to be completed during the summer of 2016. Altitude will serve as the centerpiece of the resort village, with new mountain villas being constructed around the amenity rich building.
Between 2010 and 2015, Schomac also reacquired 75 of the 400 homesites at distressed prices. Those homesites are now being reintroduced for sale over five phases with phases one and two currently available. These homesites have been bundled with a unique membership program offering each owner inherent rights through property ownership to a base amenity package at the resort facilities, plus the ability to upgrade into more diverse, amenity rich programs at the resort.
Feather River Inn – Blairsden, California
Discover more at www.FeatherRiverInn.com.
The Feather River Inn is an historic Resort famed in the West as a Shangri-La of unique charm tucked away in the heart of mountain forests.1 The three-story Lodge was built at the turn of the century by H.C. Leighton, President of The Interstate Company, to appeal to the wives of hunters and fishermen so they might participate in their husband’s outings. Its golf course is one of the earliest Sierra Nevada Mountain Courses.2
Schomac recognized the significance of The Feather River Inn and purchased the 114 acre property in 2005 with the objective of restoring and remodeling the legendary Lodge, together with the Chalets and Bungalows along the famed Boardwalk, providing a total of 101 guest rooms. An Events Plaza, Day Spa and Wellness Center, swimming pool and bocce ball court will be developed to augment the resort experience. The Resort facilities will also be expanded, offering ideal venues for meetings, trade shows, banquets and other special events.
To complement the Resort Redevelopment and provide economic stability to Resort operations, 112 New Resort Condominiums are being developed. The fully furnished and equipped Resort Condos will include two, three and four bedroom models ranging in size from 1,570 to 3,077 square feet. Pricing is expected to average $750,000, with entry level pricing starting at $500,000.
Due to delays in the finalization and approval of the Environmental Impact Report (“EIR”) for the Feather River Inn Master Plan, progress with the restoration has been delayed. All issues have now been resolved and it is anticipated that Phase I construction at the Resort will continue in earnest by Spring, 2017.
The Resort Redevelopment will be completed in three Phases:
Phase I includes the Lodge restoration, consisting of 37 guest rooms and suites and the construction of 24 of the 112 New Resort Condos which are located around the golf course.
Phase II will be the completion of the 56 Guest Chalets and 8 Guest Bungalows along the Boardwalk, bringing the total guest room count to 101.
Phase III begins the construction of 88 additional Resort Condos; half of which will be located alongside Bonta Creek and the balance situated on the surrounding ridges overlooking the Lodge, Golf Course, and Eureka Peak.
The 9-hole par-3 golf course has been professionally redesigned with new bunkers, water features and bridges. A new Golf Course Pavilion and the restoration of the Rainbow Theater have been completed.
1 “Great Resorts of North America”, Andrew Hepburn, Doubleday, 1965.
2 “We’re Only Here for a Visit: The Story of the Feather River Inn Golf Course”, Haworth A. Clover, Sheridan Books, 2004.
Portola Highlands – Portola, California
Portola Highlands is a 398 acre master planned community located in the city of Portola, CA just 10 and 15 minutes from Nakoma Resort and The Feather River Inn, respectively. Formerly known as Woodbridge at Portola, the property is entitled for 1,005 dwelling units in a diverse mix that includes condominiums, apartments, live/work lofts, cottages, and single family homesites. The master plan also allows for the construction of a senior housing facility and over 250,000 square feet of commercial space.
Schomac acquired the property out of foreclosure at the end of 2014 and is currently working with the City of Portola to amend the existing Development Agreement and corresponding Master Plans to ensure an economically sound project for the future.
Portola Highlands will be one of the largest development projects in the history of Eastern Plumas County and will significantly add to the population base of Portola. Further, it will provide a diverse range of housing product that will attract a wide demographic to the area, from young families seeking an affordable mountain lifestyle to retirees looking for a peaceful place to spend their time.
Gran Posada – San Carlos, Sonora, Mexico
The Gran Posada is a to-be-built 16 story, 459 unit luxury high-rise situated on nine acres of beachfront land with 600 feet of ocean frontage in San Carlos, Sonora, Mexico. Designed by the architectural firm behind the Westin La Paloma Resort in Tucson, AZ, the property has a letter of understanding to be flagged/managed by the Sonesta International Hotels Corporation.
Situated just over half way down the Sea of Cortez, San Carlos is the next natural link in the chain of coastal resort jewels. It is located just 10 miles north of Guaymas, a fishing and industrial port city of over 200,000 containing an International Airport with recently announced service from Tucson and Phoenix. It is also a mere 75 miles south of the major city of Hermosillo, with an estimated population of 700,000.
San Carlos is serviced by a four-lane divided highway reachable from Tucson, AZ in five hours time. It was recently described by the New York Times as “stunning”, noting the coastal location and backdrop of the incredible natural terrain. It was also recently heralded by National Geographic as having the #1 ocean view in the world: http://travel.nationalgeographic.com/travel/top-10/ocean-views/.
Other features include two naturally protected full service marinas; one of the very limited number of 18-hole golf courses in Sonora; numerous island bird sanctuaries; renowned quality of diving waters and fishing diversity; and an abundant amount of shopping, restaurants and nightlife.
The project can be built and initially operated as a full-service, four star hotel. However, the property is being developed with a horizontal regime in place for the purpose of maintaining flexibility to sell individual condominium units as part of the exit strategy for the Developer entity and its investors.
La Posada Condominiums – San Carlos, Sonora, Mexico
Discover more at www.PosadaCondominiums.com.
Formerly Hotel San Carlos, Schomac purchased the property in 2006 and converted the hotel rooms to for sale condominium units. The Posada Condominiums are centrally located in San Carlos, Sonora, Mexico and are just a short walk to the golf course at San Carlos Country Club, the Marina San Carlos for fishing, diving, and snorkeling, and an array of restaurants and nightlife activity.
Only 8 units currently remain for sale, but the development also features the ability to construct another three story building containing approximately 20 to 30 units.