Alta Palm Springs wins four Gold Nugget Awards
We were one of the first to build a luxury community of modern homes in the $1.5M to $3.5M price range in Palm Springs, CA. This community received four Gold Nugget Awards from the Pacific Coast Builders Conference.
[vc_separator]
Why We Did It
It was the perfect storm;
- The principles of the firm have a personal passion for modern architecture and were looking for a location to build modern homes.
- We acquired a pristine parcel of land in the Southernmost part of Palm Springs with incredible views.
- Palm Springs is community that reveres its roots in mid-century modern architecture and was poised to embrace a rebirth of the modern movement.
Vision
“From the start, we envisioned ALTA as the destination for contemporary architectural enthusiasts. The goal was to bring the design excellence of custom architecture to a master planned community on a grand scale.”
Frank Eder, General Manager of the Development Team
“ALTA is more to us than creating unique floor plans. The topography of the site and the rugged surrounding mountain views requires a sincere effort to not only create a product that is in harmony with the indigenous terrain, but also one that relates well to the individual lot. Working closely with the developer, we’ve designed this product in an effort to maximize individual home site views as well as preserve ALTA view corridors for many years to come.”
Narendra Patel, Architect
“We designed three base floorplans for the community with a series of over thirty clever structural additions that were pre-designed, pre-engineered and pre-approved with the city, giving our buyers a custom home experience without the headache, time and expense.”
Kim Bauer, VP Marketing, Sales and Development Design
Development Team
- General Partner and Development Manager: Newport Coast Capital Management, now NCCG
- Investment Partner: ING Realty, Inc.
- Builder Partner: Devcon Construction, Inc.
- Architect: Narendra Patel—Patel Architecture
- Interior Designer: Jeffrey Jurasky—Jurasky & Associates
Key Results
Acquisition: In 2004, we acquired an unentitled plot of land at the corner of Bogart Trail and South Palm Canyon Drive in Palm Springs, CA.
Due Dilligence Research: Primary market research conducted by the development team indicated that modern architecture vs. more traditional Tuscan or Mediterranean architecture would allow us to trump prior sales comps by $200K per home.
Entitlements: (Frank to fill in information here)
Final Map and Plan:
- 67 semi-custom home sites with average lot sizes of 15,000 square feet designed so that each home site captures views of San Jacinto Mountain.
- 3 modular floorplans ranging from 2,700 sf to 4,700 sf
- Price points from $1.53 to $3.5 M
Ground Breaking: Ceremony is held at the site in January 2005 and pays tribute to NCCM, Patel and Donald Wexler (famous mid-century modern architect).
Grand Opening: Pre-sale marketing and sales campaigns resulted in over 1,200 people attending the Grand Opening weekend and nine deposits to begin construction.
Awards and Recognition: In 2006, The ALTA Community was the big winner at the Gold Nugget Event sponsored by the Pacific Coast Builder’s Conference and received the following awards:
- “GRAND AWARD – Home of the Year” for best single family home
across all product categories - Best Single Family Detached Home – 2,500 to 3,500 sf
- Best Single Family Detached Home – 3,500 to 4,500 sf
- “Best Development of the Year” Runner Up (Merit Award)
Sales: Plan C Model Home sells for $3.4 million in 2006.
Development Team
- General Partner and Development Manager: Newport Coast Capital Management, now NCCG
- Investment Partner: ING Realty, Inc.
- Builder Partner: Devcon Construction, Inc.
- Architect: Narendra Patel—Patel Architecture
- Interior Designer: Jeffrey Jurasky—Jurasky & Associates