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Construction Begins on The Vineyards Resort Community

(Photo: http://www.newscom.com/cgi-bin/prnh/20080910/AQW094)

Infrastructure work is expected to take up to two years. Golf course construction should be completed in time for the 2010 season.

"People are excited to have a place where they can escape the city, relax and enjoy great golf, world-class wine and sunshine almost every day," said Rich Barnes, a development partner.

Yakima County's real estate market has remained solid despite national trends, reinforcing The Vineyards' market research findings that there is demand and helping drive presales. Regional and national industry observers have ratedYakima favorably on factors like market risk, appreciation and affordability.

Yakima County resale value rose nearly 5 percent year-over-year, according to Washington State University's Center for Real Estate Research. At 6.7 percent,Yakima's appreciation is ranked 21st best of 291 metro areas nationally, according to the Office of Federal Housing Enterprise Oversight.

Yakima's long-term price decline risk is less than 1 percent, according to the PMI Group. ManyFlorida,California andNevada communities are greater than 85 percent.

SBC, a joint-venture partnership developing The Vineyards, recently secured financing, marking the next step in a project that has already obtained county approval, water rights and dozens of presale memberships. The $70 million first-phase includes preparation of 230 single-family sites and club house complex, main roads and utilities construction.

"The growing population of active people and wine enthusiasts in this region continue to look for just the right second or third home that is easily accessible and full of resort amenities," Barnes said. "The combination of recreational and lifestyle amenities here at the Vineyards, such as world-class wine, great restaurants and a spa, makes The Vineyards that right place."

Architectural and landscape features will create a 500-acre, Tuscan-style community. A signature, 18-hole championship golf course will be among the showcase attractions. Others include a boutique hotel, clubhouse with restaurant, concierge services and vintner club.

Developers have assembled a nationally recognized project team of best-in-class firms to design, build and manage The Vineyards. It includes architectural firm CollinsWoerman, resort planning and design firm SE Group, civil engineering firm Huibregtse, Louman Associates Inc. and general contractor Selland Construction. Golf course experts include designers Hurdzan Fry Architects, developer Niebur Golf and managers KemperSports.

A central Washington Wine Country location, a sunny climate and proximity to theSeattle area makes The Vineyards Resort attractive.Washington has nearly 500 wineries. More than 50 are in the Yakima Valley, which produces 94 percent of the state's grapes.

"Yakima is a community known for pioneering new things: it's where winemaking started inWashington state and it's where the grapes are grown and the real wine experience starts," said John Cooper, president of the Yakima Valley Convention and Visitors Bureau. "The Vineyards is a pioneering project for this region. There's really nothing else like it."

SOURCE The Vineyards Resort