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Overview

The Westin Verasa Napa Residences is a whole ownership condo hotel in Napa, California – the seat of a county synonymous with California wine country and relaxed luxury, about 50 miles north of San Francisco.

Location

The Westin Verasa Napa Residences is a new development on a 4.62 acre site at 1314 McKinstry Street, along the Napa River. Next door will be the Oxbow Public Market (which broke ground last September), a 40,000-square-foot marketplace including a scenic deck along the Napa River, and a diverse mix of local vendors and organic farm stands. Downtown Napa is two blocks east and The American Center for Wine, Food and the Arts, a short 10-minute walk away.

Status

Units have been on sale since September 2006 when the Presentation Center opened at 1141 First Street, Napa. The first 100 units released in Phase 1 sold out in December. The remaining 60 units have been on sale since early this year, and opening is scheduled for winter 2008-2009.

Details

The Westin Verasa Napa Residences will have 160 total rooms: 38 two-bedroom suites (averaging 1150 square feet), 72 one-bedroom suites (670 square feet) and 50 studios (475 square foot). Owners will be entitled to stay at the hotel up to 29 days a year.

Phase 1 sales of 100 units totaled $63 million with a per-unit average price of $630,000, or just under $550 per square foot.

Resale Options

As this a whole ownership condo hotel, there are no limitations on resale after closing.

How It Looks

The design of the hotel is based on the American Craftsman style with historic regional accents such as window bays and exposed timber posts and beams. With an expansive pool courtyard and a south wing that opens up to the river, the setting is intended to be a retreat into the surrounding environment. On the grounds, there will also be a bocce ball courtyard, a Zen courtyard, and manicured landscaping.

Hotel plans also include a four-star restaurant, a wine bar, and meeting and conference space. Other typical luxury hotel amenities such as a hot tub, fitness center, underground parking, valet and concierge service are also planned.

Helium Report Perspective

Westin Verasa is the fifth project that Starwoods and Intrawest have collaborated on, the previous two in Canada. First was Le Westin Tremblant in Quebec which sold out in 12 hours in 1999 and then the Westin Trillium House in Ontario, which opened in 2005. Two other projects are slated to open before the Verasa: The Westin Monache in Mammoth Lakes, California, expected to open in later this year, and The Westin Imagine Orlando Residences in Orlando, Florida set to open in early 2008.

As the first development of its kind in downtown Napa, Westin Verasa was under a fair degree of scrutiny. Strong sales of phase one are an indicator of the regional market’s appetite for properties in this class such as the Riverfront, the planned Channel Properties mixed-use project for full time condo residence. Being situated within reasonable driving distance to the affluence of the San Francisco Bay area was certainly a factor. One hopes that more condo hotel projects will add to the luxury options in California wine country beyond the fractionals and bed-and-breakfasts prevalent today.

An extensive list of condo hotels and member reviews is available from Helium Report. Also use our ongoing Guide to Condo Hotels (below) to make a smart purchasing decision.

• Part 1: Condo Hotels Explained
• Part 2: Financial Analysis
• Part 3: Brands and Projects