Seven Falls: News

2007

12/4/2007 - Seven Falls Economic Impact Report

Long-term local economic impact will be over $28 million annually

New Study Shows Seven Falls Golf and River Club Economic Impact

in the Region to Reach Over $747 Million

Etowah Valley, NC/December 4, 2007–A study released today shows Seven Falls Golf and River Club will boost the local economy with millions of new dollars and thousands of new jobs. That’s good news for everyone, from local schools to local businesses to town and county governments.

According to the study, Economic Impacts of the Seven Falls Golf and River Club Development, the private community will have an enormous positive economic impact on the region and Henderson County, both now and for the long term. Total economic input will top $747 million and help create over 9,300 jobs—from now until Seven Falls is completed in 2013. Over $370 million of that money will be invested in Henderson County alone. After project completion, the community will continue to contribute $28 million annually to the local economy. Seven Falls will also generate support for 760 jobs with over $14 million in wages each year.

“This is going to do wonders for Henderson County,” said certified planner Chester Pankowski (AICP) of Planning & Impact Analysis, the Asheville firm that prepared the report. “We’re talking about a development that will grow the local economy and make it sustainable. New money brings new jobs, new wages and new revenue.”

The report also projects that over $85 million in taxes will be generated during the first six years, with local and state governments receiving over $22 million of that revenue. The long-term forecast shows that over $3 million will be collected annually to pay state and local taxes.

The estimates for both the short and long term economic forecasts are based on construction costs and spending by new residents and visitors of Seven Falls. They include both direct dollars spent and the multiplier effect this spending creates. Jobs created will range from construction to retail to professional, both full and part-time. According to the report, most of these jobs will be likely filled by people living within the local community. The complete report is available at http://www.sevenfallsnc.com

“Henderson County is a wonderful home for Seven Falls,” said developer Keith Vinson. “I’m a firm believer in giving back to the local community, so I am very pleased that we can contribute in such a meaningful way to the local economy.”

Private Mountain Communities, Inc. CEO, Harry Redfearn, whose consulting company specializes in the sales and marketing of master planned communities in Western North Carolina, says, “the early success that Seven Falls has experienced is remarkable given the national state of the real estate market.”

The grand opening for Seven Falls was in June of this year and to date 125 families from 10 different states have chosen this community as their primary residence or second home. When all is said and done, this will be a neighborhood of 900 residents.

Redfearn believes that a great deal of the success can be attributed to the unique master plan of the community. “In addition to being the only Golf and River Club in North Carolina, the Seven Falls master plan will include resort-style amenities in a residential neighborhood that are family focused. This focus on planning the amenities around the entire family has become increasingly important to the boomers that will ultimately make Seven Falls their home.”

The economic impact report prepared by Pankowski, who has had a long history doing this type of analysis for the region, had a two-fold purpose. The first was to calculate the economic impact of construction at Seven Falls over the initial six-year construction period. The second was to estimate the average annual economic impact of consumer spending in Henderson County by Seven Falls residents and visitors, once construction was complete.

A substantial effort was made in the report to “define non-local revenues or ‘new dollars’ that flow into the local economy as a result of this new development.” According to the report, it is only when these “new dollars,” or non-local revenues, flow into the local economy from sources outside the local community that positive financial ripples occur.

The Seven Falls Golf and River Club is a private community on more than 1,400 acres along the French Broad River near Etowah in Western North Carolina. Plans for the community include the very first Arnold Palmer Premier Golf Club, a river club and outfitter, a village center and 900 homes.

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11/15/2007 - Economic Impact Analysis of Seven Falls Development
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11/13/2007 - Seven Falls Golf and River Club Breaks Ground on Clubhouse

November 13, 2007
Contact: John McIntosh
Seven Falls Golf and River Club
39 Pleasant Grove Church Road
Hendersonville, NC 28379
866.473.2557
JMcIntosh@sevenfallsnc.com
www.sevenfallsnc.com

Seven Falls Golf and River Club Breaks Ground on Clubhouse

Hendersonville, N.C. – The development team and members of the new Seven Falls Golf and River Club gathered Saturday, November 10, to celebrate the ground breaking of the new Clubhouse. This is Seven Falls’ second major phase of construction as the golf practice facility broke ground this past summer. The 19-hole championship course is scheduled to open by late fall 2008.

The Clubhouse is designed by Atlanta-based architect Stephen Fuller. Fuller brings his wealth of knowledge in community and custom home architecture to Seven Falls. Fuller
is a master of combining aesthetic beauty and functional design concepts for both commercial and residential spaces. The Clubhouse will feature fine and casual dinning, locker rooms, full-service Pro Shop, and a pub.

All the architecture at Seven Falls will use traditional materials such as field stones and timber siding. The Clubhouse will have the feel of an old manor house, traditional, elegant and welcoming. All the architecture will have a timeless appeal.

Seven Falls is the first Arnold Palmer Premier golf championship course to break ground. Palmer Premier is an exclusive golf and luxury lifestyle brand with every detail inspired, influenced and elevated to the standards of Arnold Palmer.

Nestled in the Blue Ridge Mountains, Seven Falls provides unparalleled views and a member friendly golf experience that will be enjoyed by players of all skill levels. The golf facility includes a 19-hole championship course, a 58-acre practice area featuring a state-of-the-art golf academy and a nine-hole short course. The practice area will be ready for play in the spring of 2008.

Home sites at Seven Falls start at $300,000 and townhomes start at $900,000. At the community’s center will be a Town Village, amphitheater, shops, restaurants, a chapel, a general store and a fitness facility with tennis courts, a swimming pool, an indoor climbing wall and basketball courts. An extensive trail system will link a series of private parks in the community, passing the site's 23 waterfalls and following the French Broad River in places.

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10/29/2007 - Joe Baidy Joins the Seven Falls Golf and River Club

October 29, 2007
Contact: John McIntosh
Seven Falls Golf and River Club
39 Pleasant Grove Church Road
Hendersonville, NC 28379
866.473.2557
JMcIntosh@sevenfallsnc.com
www.sevenfallsnc.com

Joe Baidy Joins the Seven Falls Golf and River Club

Hendersonville, N.C. – Seven Falls Golf and River Club has hired veteran golf course superintendent Joe Baidy as the superintendent of the first Arnold Palmer Premier championship course to break ground. Palmer Premier is an exclusive golf and luxury lifestyle brand with every detail inspired, influenced and elevated to the standards of Arnold Palmer. The 19-hole championship course is scheduled to open by late fall 2008.

Baidy brings more than 40 years of experience to Seven Falls. Over the past eight years, Baidy has overseen the grow-in of five courses including the new Jack Nicklaus Signature Golf Course - The Alps Golf Club in Moscow, Russia and the Turning Stone Casino Resort in Verona, New York. While at Turning Stone, Baidy was responsible for the management of five courses, including the Atunyote Golf Club, home of the PGA TOUR Turning Stone Championships. Turning Stone also received Golf Digest’s Best Conditioned Public Course in the United States while under Baidy’s supervision. A career highlight for Baidy was preparing the Oak Hill Country Club for the 1980 PGA Championship course changes.

Baidy holds a bachelor’s science in Agronomy from Pennsylvania State University where he attended on a golf scholarship. He’s a Certified Golf Course Superintendent and past president of the Golf Course Superintendents Association of America, the Pennsylvania Turfgrass Council, the Greater Pittsburgh GCSA and the Allied GCSA. Nestled in the Blue Ridge Mountains, Seven Falls provides unparalleled views and a member friendly golf experience that will be enjoyed by players of all skill levels. The golf facility includes a 19-hole championship course, a 58-acre practice area featuring a state-of-the-art golf academy and a nine-hole short course. The practice area will be ready for play in the spring of 2008.

Home sites at Seven Falls start at $300,000 and townhomes start at $900,000. At the community’s center will be a Town Village, amphitheater, shops, restaurants, a chapel, a general store and a fitness facility with tennis courts, a swimming pool, an indoor climbing wall and basketball courts. An extensive trail system will link a series of private parks in the community, passing the site's 23 waterfalls and following the French Broad River in places.

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7/27/2007 - Breaking Ground, Seven Falls Golf and River Club
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9/1/2007 - Seven Falls Golf and River Club, The Best of All Worlds
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7/16/2007 - Seven Falls Grand Opening Sells Out

July 16, 2007
Contact: Harry Redfearn
Private Mountain Communities
1 Page Avenue, Suite 150
Asheville, NC 28801
(888) 517-3322

Seven Falls Grand Opening Sells Out

Etowah Valley, N.C. – The Grand Opening event for Seven Falls Golf and River Club was met with rave reviews resulting in a sell out of Phase One and a waiting list for Phase Two. The first families to commit to Seven Falls for a future home were treated to an all-day catered event including cooking demonstrations, live entertainment, hot air balloon and helicopter rides, kids’ activities, interpretive nature walks and fly fishing demonstrations. The day ended with a benefit concert at the Biltmore House featuring the Blues Brothers.

“One hundred twenty-five families from 10 states made Seven Falls their new home, and we were pleased by the local interest,” said Harry Redfearn of Private Mountain Communities, the company that is managing the sales and marketing for the community.

Redfearn attributed the record sales to a number of factors. The profile of Western North Carolina has risen in the national consciousness, he said, citing several national surveys that place this region on a number of top 10 lists from “best place to live and retire” to top “small town arts destination.”

“Hendersonville’s charming Main Street is great. There are four state parks near Seven Falls with a total of over 1 million acres of protected land,” he said. The Seven Falls location – hundreds of acres of spectacular, rolling meadows and forested ridges near such wonderful towns – is quite rare.

“The developer’s commitment to a family-friendly community with best-in-class amenities and service really resonated with the buyers,” Redfearn added. Or maybe simpler factors made Seven Falls stand out – the connectivity offered by the miles of walking trails and the village center, the spring-fed streams and waterfalls, the gorgeous scenery.

“Based on the success of the Grand Opening, Seven Falls is accelerating the release of Phase Two,” Redfearn said. Other work is proceeding as well. “The construction of the golf course will begin immediately,” Redfearn said.

The golf facility includes an 18-hole Arnold Palmer Premier golf course, a 50-acre practice area featuringa state-of-the-art golf learning center and a nine-hole short course,” Redfearn said.

The Seven Falls Golf and River Club will be a private community on more than 1,400 acres along the French Broad River near Etowah in Western North Carolina. Plans for the community include the Arnold Palmer Premier Golf Club, a river club and outfitter, a village center and 900 homes.

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6/10/2007 - Blues Brothers Help Seven Falls Raise $100,000 for Charity

Sunday, June 10, 2007
Blues Brothers Help Seven Falls Raise $100,000 For Charity

Dan Aykroyd and Jim Belushi headlined an event at the Biltmore Estate on Saturday night raising $100,000 for Eblen Charities. Seven Falls Golf and River Club in Etowah hosted the event on the terrace at the century-old mansion. About 400 people came to the show, which marked the end of a day of property tours for prospective buyers on the Seven Falls site. The concert was free; Seven Falls CEO Keith Vinson had told the attendees that they would match any money donated. “I thought our neighbors would love to contribute,” Vinson said. “We love Eblen Charities. We appreciate the work they do in the community for so many who need it.”

“We’ve had the privilege of working with Keith and Paula Vinson for a long time. They are continually seeking ways to give back to the community,” said Bill Murdoch, director of Eblen. “We’re honored by their friendship.”

Plans for the Seven Falls Golf and River Club property, which borders the French Broad River, include 900 homes. The centerpieces are a river club and the Arnold Palmer Premier Golf Club.

Eblen Charities is a nonprofit with a broad mission to serve the needy in western North Carolina. Its total assets in 2005 came to about $4 million, according to the nonprofit’s tax documents.

“Last year, Eblen Charities helped 65,000 people,” said Joe Eblen, who founded the nonprofit about 18 years ago. “This money will probably allow us to push that number to 75,000 next year.”

Primarily, the donation will create a new Seven Falls Foundation, which will be administered by Eblen Charities to meet the needs of those in the Etowah area. The idea to bring the Blues Brothers came together relatively late in the planning of the event. It might not have happened – Belushi had the time open but Aykroyd had a conflict – until the pair looked into Seven Falls and Eblen. They liked what they saw. With just a short time to pull the act together, the Blues Brothers committed to the event.

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6/10/2007 - Palmer Tours Future Site of Local Links
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4/22/2007 - Scenic Marvels Surround New Course, Community

Legend Palmer has hand in Seven Falls Golf & River Club in Etowah.

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4/23/2007 - Asheville Tops 100 Places to Live List
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2/1/2007 - A Natural Mountain Amphitheater Proves the Perfect Golf Venue

In the mountains of Western North Carolina, a second home community offers life on the river along with Arnold Palmer golf.

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2/1/2007 - Seven Falls Golf & River Club

Etowah Valley, North Carolina

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6/24/2008 - Seven Falls’ Success Bucks the National Trend

Record attendance and $20 million in sales

Hendersonville, N.C.—On June 7, a record crowd of over 500, including golf legend Arnold Palmer and musician Kenny G, attended the grand opening of Seven Falls Practice Campus and the groundbreaking ceremony for their new Villas at Palmer Place. The day resulted in over $20 million in real estate sales. Since their grand opening a year ago, Seven Falls has attracted over 150 new property owners.

Seven Falls’ success comes despite predications of a soft real estate market. Fannie Mae president and CEO Daniel Mudd told business editors and writers at their annual conference in April that “We think at Fannie Mae that '08 is going to be a tough year, kind of a continuation of the end of 2007; ‘09 will be similar.”

But according to Asheville-based Private Mountain Communities president, Harry Redfearn, “The Western North Carolina market has been surprisingly resilient during the last 12 months. Seven Falls has led the way with buyers coming from as far away as California.”

Helping fuel Seven Falls’ success is an accelerated build-out of its amenities. With the Practice Campus open, the Arnold Palmer Premier Championship Course set to be completed this fall, and construction beginning on townhomes, golf villas, single family homes, and their member clubhouse, the community has developed a following.

Buyers like Michael O’Bryan of Atlanta like what they see at Seven Falls. “The developer’s commitment to build the amenities up front, ahead of real estate growth, sets this place apart,” said O’Bryan. “Most developers have a ‘wait and see’ mentality, but the early buyers here will have a full-service club immediately.”

Seven Falls, located on more than 1,600 acres just 20 minutes from Asheville in the mountains of Western North Carolina, is the State’s only private golf and river club. The community will be home to the first Arnold Palmer Premier Club (including a Palmer Premier championship course and a world-class 60-acre practice campus with an Arnold Palmer Teaching Academy and 9-hole teaching course). The community will also include a river lodge and outfitter, a village center and 900 homes. An extensive seven-mile trail system will link a series of parks in the community, passing some of Seven Falls’ waterfalls and following the French Broad River.

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