The Homestead Engages Celebration Associates to Undertake a Study on Restoration of the Jefferson Pools

Hot Springs, Virginia – September 11, 2008. . . The Homestead recently engaged Celebration Associates, the developers of Homestead Preserve, to perform a study on possible options for restoring the historic Jefferson Pools in Warm Springs. The mineral pools, which have been used for their healing properties for centuries, are owned by The Homestead, the landmark resort in Hot Springs.

The two pools are enclosed by men’s and women’s bathhouses, constructed in 1761 and 1836, respectively. “It’s very important to us and our guests that we preserve the historic attributes of these structures for future generations while still allowing visitors to take advantage of their use,” says Sean Maddock, Vice President and General Manager for The Homestead.

The Homestead approached Celebration Associates several months ago and asked for the developers’ advice and assistance in restoring the Jefferson Pools. “Celebration Associates has a history of preserving special landscapes and historic places,” explains Maddock, “so we decided to take advantage of their expertise and The Homestead’s close working relationship with Homestead Preserve to see if we could work together to preserve the pools while still keeping them open to our guests.”

In 2007, Homestead Preserve completed restoration of the 1920s Old Dairy complex in Warm Springs, which is across the road from the Jefferson Pools. The restoration earned Old Dairy a listing on the National Register of Historic Places as well as the 2008 Outstanding Adaptive Use Award from the Association for the Preservation of Virginia Antiquities (APVA).

“Given the experience we already have in restoring local historic structures, we were more than happy to serve in an advisory role to The Homestead as they explore options the Jefferson Pools,” says Homestead Preserve Co-General Manager and Celebration Associates Partner Don Killoren.

Once Celebration Associates has completed its study of the pools, The Homestead will announce more concrete restoration plans.

Homestead Preserve developers and Celebration Associates partners Charles Adams and Don Killoren were instrumental in the design and development of Celebration, Florida, near Orlando, which was hailed as the “Most Advanced Community in the Country from 1996-1998” by The Guinness Book of World Records. Celebration Associates has for the past ten years been a partner in developing the community of Baxter Village in South Carolina, and is also a partner leading the real estate development projects at Bundoran Farm in Charlottesville, Virginia, and the Mt. Washington Hotel at Bretton Woods in New Hampshire. Crosland, Inc. of Charlotte, NC is a financial partner in Homestead Preserve, Bundoran Farm and Mount Washington Resort. Crosland’s President and CEO Todd Mansfield was also directly involved in the development and success of Celebration, Florida. Crosland, Inc. is one of the Southeast’s leading and most diversified real estate companies.

For more information on Homestead Preserve sales, call 877-224-9477. To schedule media interviews with Celebration Associates developers, call Deborah Huso at (540) 474-5147, or e-mail drhuso@writewellmedia.com.

High Country Native Mark Harrill Honored as a “Visionary Developer” as Echota Sales Continue to Grow

Boone, North Carolina – September 11, 2008. . . Mark Harrill, Owner of Foscoe Companies, was recently named one of “5 Visionary Developers” in the 5^th anniversary issue of Mountain Homes Southern Style.

Harrill has been responsible for creating the North Carolina High Country’s highest selling resort community of Echota just outside Boone. Despite lagging real estate sales elsewhere in the country, Echota has closed on 66 real estate transactions in 2008, in keeping with its record last year of 107 closed sales.

“It was no surprise to the staff and owners here at Echota that Mark was honored as one of the southern mountains’ most visionary developers,” says Will Sears, Director of Sales for Echota. “As a native of the High Country, Mark understands the unique challenges of mountain development and has worked hard to build homes that both enhance and preserve the natural landscape.”

Echota offerings, which range from condominiums to large single-family homes, provide owners access to pools, fitness centers, spa amenities, and hiking trails in prices ranging from $300,000 to just over $700,000. “Our price point and the fact that we offer maintenance-free, turnkey homes is the reason we’ve kept selling in an otherwise slow market,” Sears adds. “And because all our amenities are in place and paid for, Echota has been extremely attractive to risk-averse buyers.”

Harrill shared space with several other visionary developers in the fall 2008 issue of Mountain Homes, including Jim Anthony of The Cliffs Communities in North and South Carolina and Mike Ross of the Rarity Communities in Tennessee.

Echota is located about two hours from Charlotte and three hours from Raleigh-Durham. Echota Developer Mark Harrill is President of Foscoe Companies. He is the leading developer of second home resort communities in the North Carolina High Country. He has been developing mountain property in the area for more than two decades and has demonstrated a commitment to blending architecture into the landscape.

For information on Echota sales, call 866-283-9420. For media inquiries, call Deborah Huso at (540) 474-5147, or e-mail drhuso@writewellmedia.com.