Ah, Florence. The museums, the shopping, the food. Most of the time, visiting this urban center of Tuscany means booking a luxury hotel—months in advance, if you’re looking to go during the high tourist season. With the upcoming opening of the Palazzo Tornabuoni in September, Italy’s first urban private membership club means year-round access to one of the world’s beloved cities.

Built in the 15th century and located minutes from the Duomo in the city’s center, the Palazzo has some historical significance. The Medicis called it home during the Renaissance and Alessando de Medici, elected Pope Leo XI in 1605, made it his residence for most of his life. Managed by Four Seasons Hotels and Resorts, the Palazzo features restored frescoes, statues and artwork throughout.

What’s for sale

Thirty-six fully furnished residences designed by Michele Bonan, an interior designer who’s work includes five hotels in Florence. Units include four 893 square foot studios, 11 one-bedroom units that measure 1,259 square feet and 21 two- and three-bedroom residences ranging up to 2,293 square feet. Prices start at €210,000, or $322,735, for the studios and top out at €528,000, or $811,521, for the largest units. Each residence will be unique in its design and layout, and all will feature 30-foot ceilings and one-of-a-kind architectural works, frescoes, art and custom-made furniture.

What you get

Ownership is deeded and each residence will be sold in eight shares. Unlike a traditional private residence club which sets a baseline for minimum usage, the Palazzo Tornabouni offers unlimited usage on a space available basis for all of its owners. When it opens in September, it will be managed by the Four Seasons, which is opening a new hotel in Florence, a short walk away. Amenities will include a personal concierge, pre-arrival grocery delivery and a private wine cellar for owners. Buyers will also have access to the spa, fitness center and outdoor pool at the nearby Four Seasons. Members will have direct access to the museums and galleries of Florence, and the Palazzo can arrange for private wine tasting and hunting tours. In addition, the Palazzo is located atop several luxury boutiques—Buglari, Bottega Veneta and the like—where members will enjoy preferred access.

The Halogen Guides Take

Blame it on the Euro, or rather the weak dollar, but U.S. real estate has become a virtual bargain for European shoppers. Americans buying homes in Europe this year, however, face ever higher prices pushed even further into the stratosphere by a poor currency exchange rate. For buyers also looking for a second home alternative stateside, Europe will be a tough sell. That said, there are no shortage of choices for those who have their heart set on Italy. In addition to this new Florence development, other luxury private residence club options in Tuscany include Castello di Casole, a 4,200-acre development from Timbers Resorts dotted with several restored four- and five-bedroom farmhouses being sold in one-tenth fractions. There is also Borgo di Vagli, selling one-tenth fractions of one- and two-bedroom stone-walled homes dating back to the 14th century.

Another option for those buyers seeking stays in Italian properties, but looking to avoid the weak pull of the dollar overseas, is to consider a destination club membership. Tuscany ranks as the most popular European location for destination club homes, and Exclusive Resorts alone has three residences in Florence, along with seven homes open in Tuscany and another three in the works. Private Escapes, High Country Club, Quintess, and Distinctive Holiday Homes also have destination club residences in Tuscany.