TORONTO, June 27, 2022 – Fairmont Hotels & Resorts, part of world leading hospitality group Accor, in partnership with Gregg Covin, notable Miami real estate developer, today announced the signing of definitive agreements for the development and management of the first luxury private branded residential offering in the Blue Ridge Mountain region of North Carolina - Fairmont Heritage Place - The Cedars, Hendersonville. Set to debut in 2025, the residences will build upon The Cedars’ legacy as a significant landmark while ushering in a new era of contemporary design, outstanding amenities and engaging service infused with local culture and premier hospitality.
Fairmont Heritage Place - The Cedars, Hendersonville will join an exclusive collection of extraordinary Fairmont - branded residences worldwide, offering private ownership with the option to participate in a rental program. Owners will enjoy all the benefits of owning a home with singular access to luxurious amenities and world-class services at Fairmont’s legendary hotels and resorts.
“We are pleased to announce the addition of Fairmont Heritage Place - The Cedars, Hendersonville, the first Fairmont-branded residences in North Carolina. For over a century, Fairmont has been intrinsically tied to the communities the brand calls home and committed to the stewardship of landmark hotels, restoring and preserving historic buildings with great care,” said Heather McCrory, CEO, Accor North & Central America. “A rare opportunity to own a piece of one of the Blue Ridge Mountain region’s most celebrated national buildings, The Cedars will be the most luxurious branded residential offering in the state. We are proud to add The Cedars iconic landmark to our rapidly growing luxury portfolio and continue its legacy for years to come.”
Fairmont Heritage Place – The Cedars, Hendersonville, a 127-unit luxury residential community, is set to transform the mountain city that has become the preferred second-home destination for generations of South Floridians and Northeasterners, due to its central East Coast setting and friendly outdoor culture. The 3.55-acre development includes a magnificent restoration of the original Antebellum grand hotel, which sits on the National Register of Historic Places, as the focal point. Two new six-story, mid-rise buildings will be comprised of studios, 1-, 2-, and 3-bedroom units and stunning penthouses, all with sprawling terraces and impressive mountain views. Prices are expected to range from USD $400,000 to USD $3.8 million.
The property will bring a new level of luxury, unforgettable experiences and outstanding service to the Blue Ridge Mountain region known for its beautiful scenery, rich culture and history, and welcoming community. Situated two blocks from the historic Main Street, the residences will be the new home to many of the area’s five-star amenities, offering an exceptional cuisine and beverage program appealing to owners, guests and locals, including a signature restaurant, a lobby bar and a specialty café. Additional property features will include flexible meeting and events space; an expansive wellness center with spa, multiple swimming pools and fitness center; a cooking school; a multifunctional family room; and retail space. Residents and guests have access to the nearby private Champion Hills Golf Club designed by Tom Fazio. All of the area’s popular destinations are located within a 30-minute radius of Hendersonville, including Downtown Asheville, The Biltmore Mansion, Asheville Regional Airport, the Blue Ridge Parkway, and both Pisgah National Forest and DuPont State Recreational Forest.
In addition to onsite privileges, Fairmont-branded residence owners are invited to join the Accor Ownership Benefits Program, presenting them with an invitation to join Diamond status in ALL-Accor Live Limitless - one of the most appealing lifestyle loyalty programs in the world - access to a VIP reservation desk, and special residence owner rates at more than 5,000 Accor hotels and resorts worldwide.
The Cedars hotel was originally built in 1914 in Neo-Classical Revival style for Jeannie Bailey, whose husband, railroad tycoon J.W. Bailey, headed Southern Railway at the time. Just a few years prior, Theresa Fair Oelrichs and her sister, Virginia Fair Vanderbilt, debuted the first Fairmont hotel in San Francisco in honor of Nevada Senator and mining magnate, James Graham Fair. The historic similarities made for a harmonious union between The Cedars and Fairmont brand.
In 1976, the property was acquired by Clifton Shipman, the great grandfather of Gregg Covin’s children. Covin began exploring the property’s potential in 2018 and has since partnered with the Shipman family and Brian M. Gaines to make his vision a reality.
“My family grew up at The Cedars and there is no better time to welcome the next generation to discover and feel at home in Hendersonville. Fairmont brings decades of experience restoring historic properties to their former grandeur and will deliver a level of sophistication the market has been waiting for while complementing the region’s inviting culture,” said Gregg Covin, Developer. “Fairmont Heritage Place - The Cedars responds to increasing desires for second-home ownership in Western North Carolina. Market studies show less than two months’ supply of available housing inventory, with demand outnumbering supply”.
"We are excited to partner with Gregg Covin to bring such a unique residential development to the thriving destination of Hendersonville," said Mark Purcell, Senior Vice President, Development, Accor North & Central America. Over the past few years, we have been experiencing record-breaking growth in the luxury and lifestyle segments. Fairmont Heritage Place - The Cedars, Hendersonville will be a notable luxury residential addition, bolstering our portfolio in North & Central America which currently includes 20 residences, with 10 additional exciting projects expected to debut within the next 3 years."
Established in 1907, Fairmont Hotels & Resorts has built beacons of hospitality, magnificent architecture and service in extraordinary destinations; playing a significant role in shaping the social fabric of each location. Renowned for creating unforgettable grand hotels and residences in the heart of each destination, Fairmont was a natural match to continue the next era in The Cedars’ longstanding history. With more than 80 locations around the globe, and several under development, the Fairmont brand boasts some of the most renowned hotel and residential addresses in the world, such as The Plaza, A Fairmont Managed Hotel in New York City, The Savoy, A Fairmont Managed Hotel in London, Fairmont San Francisco, Fairmont Banff Springs in Canada, Fairmont Heritage Place Mayakoba in Mexico, and the recently reimagined Fairmont Century Plaza in Los Angeles, among others.
Fairmont is part of Accor, the second-largest operator of luxury hotels in North America and a leading hospitality group worldwide. Fairmont Heritage Place - The Cedars, Hendersonville joins an expanding list of highly anticipated openings in Accor North & Central America’s growing portfolio, including Sofitel Legend Casco Viejo Panama in 2022, Raffles Boston Back Bay Hotel & Residences in 2023, Fairmont La Paz Puerta Cortés Resort and Residences in 2023, Mayaliah Tulum Hotel & Residences – MGallery Hotel Collection in 2024, Fairmont Orlando and Fairmont Phoenix in 2025, among others.
For more information about Fairmont Heritage Place - The Cedars, Hendersonville, or to be added to the list of prospective buyers, please visit www.fairmontresidencesthecedars.com. The sales gallery is currently open and located at 739 North Main St., Hendersonville, NC. Sales are expected to launch this summer.
Fairmont Hotels & Resorts is where the intimate equally coexists with the infinite–an unrivaled portfolio of more than 80 extraordinary hotels where grand moments of life, heartfelt pleasures and personal milestones are celebrated and remembered long after any visit. Since 1907, Fairmont has created magnificent, meaningful and unforgettable hotels, rich with character and deeply connected to the history, culture and community of its destinations–places such as The Plaza in New York City, The Savoy in London, Fairmont San Francisco, Fairmont Banff Springs in Canada, Fairmont Peace Hotel in Shanghai, and Fairmont The Palm in Dubai. Famous for its engaging service, awe-inspiring public spaces, locally inspired cuisine, and iconic bars and lounges, Fairmont also takes great pride in its pioneering approach to hospitality and leadership in sustainability and responsible tourism practices. Fairmont is part of Accor, a world leading hospitality group counting over 5,300 properties throughout more than 110 countries, and a participating brand in ALL-Accor Live Limitless–a lifestyle loyalty program providing access to a wide variety of rewards, services and experiences.
About Gregg Covin
For 30+ years, Gregg Covin has set the standard for cutting-edge development in South Florida with multiple properties that have redefined and reimagined skylines and neighborhoods. Among his most notable developments is the iconic One Thousand Museum, the first tower in the Western Hemisphere by visionary global architect Dame Zaha Hadid. The residential masterpiece completed Covin’s vision for living in Downtown Miami, which started nearly a decade earlier with Ten Museum Park, a 50-story crystalline mixed-use tower designed by Chad Oppenheim that reached sell-out of its 200 condominiums in just nine days. Other recognizable projects by Covin include the AIA award-winning Neville Condominium in South Beach and Angler’s Hotel in Miami Beach. His properties have won countless accolades from The Chicago Athenaeum Museum of Architecture and Design, The Builder’s Association of South Florida, and the Dade Heritage Trust.