Post by jinxx47 on Nov 4, 2007 21:17:50 GMT -5
SEVIERVILLE - In just one day last week, 109 purchasers spent more than $40 million on condominiums from Wilderness at the Smokies.
The company held its first day of sales Saturday, said Susan Jackson, director of sales for Playground Destination Properties, the real estate brokerage that is marketing the property for Wilderness.
"We had a great, great, great day," she said.
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In less than six hours, they sold more than 70 percent of the condos in the first phase of the project, she said.
They had been working with interested buyers for several months, she said. Saturday, though, was the first day that anyone could actually buy any of the condos. Prices ranged from $100,000 to $500,000. Purchasers came in throughout the day to buy condos on a first come, first serve basis, Jackson said.
By the end of the day, they sold almost $41 million in condos. They weren't surprised by the sales figures, but they were very pleased. "We had expectations going in of selling in the $40 million range," Jackson said.
The first phase of the condominium project will consist of an indoor/outdoor water park and the new condos. The water park will be built first, Jackson said.
Construction will start after they reach a predetermined sales threshold, she said. Right now, they think that will happen by the end of the year.
"I'm very, very encouraged," she said.
Machiens could be seen moving dirt on the site this week, but Jackson said they are collecting soil samples and aren't starting to build there yet.
Wilderness has already started work on the Events Center hotel, which is now visible from the Parkway. Wilderness officials have said they hope to complete the hotel next year.
The condominiums and indoor water park are the next steps in several planned resorts and water parks in Bridgemont, the development surrounding the Events Center along Old Knoxville Highway and Gists Creek Road.
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