Linkage: Soccer Club Plans $1B Resort; Bad Mortgages Go Rental; More!

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Sexy South America: The classic Uruguayan summer resort of...

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Globe Trotting: Hitler's Nazi Resort of Dreams to be Turned Into Luxury Apartments

× Like us and you'll find top breaking news in your Facebook newsfeed. Sign up for our daily email newsletter and get top stories and breaking news delivered to your inbox. Wednesday, April 27, 2011, by Sarah Firshein

Properties with weighty pasts are kind of like bedtime stories here on Curbed; we just can't get enough of—oh, holy moly, scratch that. This particular story is the stuff of nightmares: a bunch of blocks in one of Adolf Hitler's so-called Seaside Resorts for the Common Man on the German island of Ruegen are going to be turned into luxury apartments. Hitler conceived the 2.5-mile-long complex as one of five vacation super-resorts designed to accommodate thousands and thousands of Nazi factory workers at a time and offer leisurely diversions such as "Nazi-approved exercises, courses and talks." Sounds just like Club Med, doesn't it?

Anyway, the Reugen buildings broke ground in 1936 and cost the equivalent of $1.239B in today's currency, an absurd sum we can thank on Hitler's megalomaniacal desire to create a name for himself in this realm (of real estate development, apparently). War broke out three years later and no one ever set a foot inside—the buildings are now vacant and vandalized, except for one small museum and a youth hostel. We can't wait to see how the complex is revamped and, of course, who the lucky buyers are. Kind of gives new meaning to the "Hitler house," no?

· Mein summer camp: How Hitler wanted Nazis to become world's largest tour operator with Butlins-style holiday resorts [Daily Mail]
· Meet the House That Bears a Striking Resemblance to Hitler [Curbed National]

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Hitler's Old Nazi Resort: In today's absurd development news: a...

× Like us and you'll find top breaking news in your Facebook newsfeed. Sign up for our daily email newsletter and get top stories and breaking news delivered to your inbox. Wednesday, April 27, 2011, by Sally Kuchar

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Luxury Living - The Latest in Luxury Resort & <b>Real Estate</b> News <b>...</b>

Tiger Woods' Dubai Golf Project Halted Tiger Woods

(DUBAI, UAE) -- The much-hyped Tiger Woods-designed golf course in Dubai has been officially halted by developers due to the economic downturn.

A statement this week by the golf course developer said "market conditions" were behind the decision to suspend work on the Tiger Woods Dubai on the city's desert outskirts.

The announcement -- just before Woods is scheduled to play in the Dubai Desert Classic next week -- shows that Dubai's property market is still reeling from the severe credit crunch that hit last year and stalled many headline-grabbing projects, including the iconic manmade palm-shaped island that helped put Dubai on the map.

"It's been put on hold for right now. A lot of projects are out there," Woods told The Associated Press  after he finished his season debut at Torrey Pines last Sunday. "It's still there. We've got six completed holes and a few that were about to be grassed before construction was halted. Everything is on hold."

The golf course developer, part of Dubai Properties Group, left open the possibly that work could someday resume.

"These conditions will continue to be monitored," according to a statement  reported by the Associated Press. "A decision will be made in the future when to restart the project."

Only a few holes have been completed on the $1 billion course, planned as the centerpiece for a complex of 100 villas, 75 mansions, 22 sheik-style palaces, a boutique hotel, a golf academy and 30,000 full-grown imported trees.

The course is part of a far-larger leisure and living master plan known as Dubailand, which also has largely come to a standstill by Dubai's fiscal crunch. Officials had planned to open multiple theme parks including Universal Studios, Legoland and Six Flags -- none of which has been built.

Dubai Properties Group is part of a conglomerate known as Dubai Holding, which is controlled by the city-state's ruler, Sheik Mohammed bin Rashid Al Maktoum. Like a number of government-linked Dubai companies, the conglomerate is deeply in debt and has been locked in talks with creditors to renegotiate the terms of its liabilities.

Woods was among the sports personalities who frequented Dubai during its free-spending boom years and used to market several master-planned resort communities. Woods won the Desert Classic in 2006 and 2008 and never finished lower than fifth since he started playing in the emirate in 2001.

The course developer said it and Woods "will retain our commercial agreement together," according to the AP report.

Over the years, other well-known golfers have designed courses in Dubai, including Colin Montgomerie in '06 and Ernie Els in '08.

Ritz-Carlton, Dove Mountain Off to Strong Sales (MARANA, AZ) -- Luxury second home buyers are taking notice as The Residences at The Ritz-Carlton, Dove Mountain community is showing significant sales momentum going in to 2011. The first new homeowners will move in this spring, five more home sales totaling over $5 million occurred in December and January, and just last week a custom estate home site was purchased, the developer recently announced.

In addition to rising home sales, signs are clearly pointing in the positive direction as the developer just broke ground on two new beautiful homes that will offer immediate move-in opportunities once complete.   

"Buyers are seeing the economy shift and we closed the year on a high note," said Residences developer David Mehl. "We have also seen a significant increase in site visits and phone calls from other prospective homeowners. The current market conditions are optimal for those seeking a luxury home with the countless amenities offered by The Residences."

Recently, The Residences played host to more than 70 of Southern Arizona's top brokers and real estate agents who came to meet Google pioneer Ray Sidney discuss his majority stake in The Ritz-Carlton Golf Club and The Residences and hear about Mehl's vision for the future of the community.  Since the broker event, home tours and sales calls have significantly increased.

So what is it that is drawing in buyers to The Residences? For starters, significant capital infusion by Sidney has eliminated all community debt creating lower cost opportunities for luxury home buyers interested in purchasing the highly-personalized homes or custom estate homesites.

The initial residential phase, already underway, will have 110 highly-personalized homes featuring the finest in design and finishes, together with 16 custom estate homesites.  New prices for the Amolillo single family homes start at $1.1 million; Seven Saguaros single family homes start at $1.5 million; and custom fairway homesites start at $590,000; villas start in the high $600,000's; and Rockpoint Ridge custom estate home sites start at $750,000.

Property owners and Golf Club members will enjoy the wide array of amenities and impeccable service all managed by The Ritz-Carlton.  The community features miles of world-class hiking trails, unparalleled access to The Ritz-Carlton's new 250-room resort and spa, and dedicated "members-only" access to the 27-hole Jack Nicklaus Signature Golf Course and the facilities of The Ritz-Carlton Golf Club.

In February, and for the third year in a row, The Residences will play host to the PGA Tour's Accenture Match Play Championship, featuring the 64 best golfers in the world. One of Golfweek magazine's "Best Courses you Can Play 2010," the property's Jack Nicklaus Signature Golf Course is among the 848 courses now listed by Audubon International and is a Certified Audubon Cooperative Sanctuary, one of only 15 courses in Arizona to receive the honor.

The Ritz-Carlton Hotel Company, L.L.C., of Chevy Chase, Md., currently operates 72 hotels in the Americas, Europe, Asia, the Middle East, Africa, and the Caribbean. Opened in January 2009, The Ritz-Carlton Golf Club, Dove Mountain is an essential component within the Ritz-Carlton community in Marana's high Sonoran Desert. Twenty-seven holes of golf and the 45,000 square-foot clubhouse complex currently comprise The Ritz-Carlton Golf Club, Dove Mountain, with an additional nine holes of golf proposed in the future.

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Tapatio Springs Resort Undergoes Major Makeover - <b>Real Estate</b> <b>...</b>

(BOERNE, TX) -- Tapatio Springs Resort and Conference Center, a world-class resort located in the Texas Hill Country, is undergoing a massive renovation and relaunch under the direction of KemperSports. KemperSports, one of the largest operators of golf and resort properties worldwide, was brought in to manage the day-to-day affairs at Tapatio early last year by new owner Textron Financial Corp.
Tapatio Springs Resort is a historic resort property that includes 27 holes of golf, 121 hotel rooms, 12,000 square foot conference center and a 35,000 square foot clubhouse located just 30 miles northwest of San Antonio, Texas.
Textron Financial Corp., a diversified commercial finance company, acquired the property with the vision of making significant improvements to relaunch the property.
The overall appearance of the resort has been upgraded by newly renovated tee signage and property signage, as well as a newly stripped, sealed and repaired main road and parking area. Other resort improvements that have been completed include re-carpeting and painting in the clubhouse and conference center, replacing two commercial 100-gallon water heaters in the clubhouse and replacing the pool heater for the hotel.
Additional improvements call for a complete renovation of the hotel, inside and out, according to KemperSports. Roof repairs are being made and the point-of-sale system is being improved, while all of the hotel rooms have been gutted and will be upgraded with new carpet, furniture and newly installed 42-inch flat-screen televisions.
Additionally, the conference center will be receiving a face-lift, and plans have been made to replace kitchen equipment and to improve the building's sound system. KemperSports is planning for an official relaunch sometime this year.
"KemperSports is the right partner to see Tapatio Springs through its transformation in becoming a high-quality resort and country club," said Jerry Hinckley, senior vice president of Textron. "We have strong partnership with KemperSports at other properties and we are looking forward to utilizing their resort expertise at Tapatio Springs."
The central amenity for the resort and conference center is 27 holes of championship golf that incorporates three distinct combinations of challenging holes. Built in 1981, the original "Lakes" and "Valley" 9-hole layouts are ranked among the Top Ten Courses in Texas by the Dallas Morning News. The two original layouts are now complemented by the "Ridge" course that will provide all skill levels with a stimulating golf experience.
In addition to golf, the community delivers numerous amenities including two lighted tennis courts, two swimming pools with adjoining Jacuzzi, complete fitness center, horseback riding, freshwater fishing and eight miles of hiking and biking trails.
"Tapatio Springs is a resort with a lot of potential," said KemperSports CEO Steve Skinner. "We look forward to working with Textron on making substantial improvements to the property and re-introducing the resort."
Textron Inc. is a $12.6 billion multi-industry company operating in 28 countries with approximately 42,000 employees. The company leverages its global network of aircraft, defense and intelligence, industrial and finance businesses to provide customers with innovative solutions and services. Textron is known around the world for its powerful brands such as Bell Helicopter, Cessna Aircraft Company, Jacobsen, Kautex, Lycoming, E-Z-GO, Greenlee, Textron Systems and Textron Financial Corporation.

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