Cedars developers announce partnership with global luxury hotel company
The Shipman family and a Miami developer partnered with Fairmont Hotels & Resorts to turn the historic Cedars property into “the state’s most luxurious branded residential offering.”
Toronto-based Fairmont announced the partnership with Gregg Covin, a leading Miami real estate developer, saying the parties had signed definitive agreements for the development and management of the first private-label luxury residential offering in the Blue Ridge Mountain region of North Carolina.
Covin began exploring the property’s potential in 2018 and has since partnered with the Shipmans and investor Brian M. Gaines to bring his vision to life. Covin is married to Shelley Shipman, the daughter of Cedars owners Fran and Tom Shipman.
“Brian is a good friend of ours and Greg’s,” Shipman said. “He is a financial partner.”
In 1976, the property was purchased by Tom’s father, Clifton Shipman, the great-grandfather of the Gregg Covin children. Tom Shipman also noted that his daughter Shelley moved to Florida and met Gregg in Miami Beach, where Tom’s mother was born and raised. “And my two grandchildren were born in Miami Beach,” she said. “It all comes together really well.”
The Shipmans’ other daughter, Amy, is director of sales for Cedars-Fairmont Condominiums.
The opening is expected to happen soon.
“We’re almost there, I’d say mid-August is what I’m thinking,” Shipman said. “I think it’s going to be great. It’s going to bring more people to Hendersonville and to have a high-class place like this with a good restaurant and bar, it’s just going to beautify Hendersonville and definitely put us on the map.” all over the world. They’re going to say, ‘Hendersonville and the Blue Ridge Mountains? We have to go see that place.’ And Fairmont is world-renowned, so it’s sure to attract a lot of people here.”
Scheduled to open in 2025, the hotel condominium development will build on The Cedars legacy as a significant landmark while ushering in a new era of contemporary design, exceptional amenities and engaging service infused with local culture and top-notch hospitality, according to a press release.
Located two blocks from the city’s historic Main Street, the residences will be the new home to many of the area’s five-star amenities, offering an exceptional food and beverage program that will appeal to owners, guests and locals, including an exclusive restaurant, a lobby bar and a specialty coffee shop. Additional property features will include flexible meeting and event space; an extensive wellness center with a spa, several swimming pools and a gym; a cooking school; a multifunctional family room; and commercial space. Residents and guests will have access to a nearby private clubhouse with the Tom Fazio-designed Champion Hills Golf Club.
The development will join an exclusive collection of Fairmont-branded residences around the world, offering private ownership with the option to participate in a rental program. Owners will enjoy all the benefits of homeownership with exclusive access to luxurious amenities and world-class services at Fairmont’s legendary hotels and resorts.
“We are pleased to announce the addition of Fairmont Heritage Place-The Cedars, Hendersonville, the first Fairmont-branded residences in North Carolina,” said Heather McCrory, CEO of Accor North & Central America. “For more than a century, Fairmont has been inextricably linked to the communities the brand calls home and committed to stewarding iconic hotels, restoring and preserving historic buildings with great care. A rare opportunity to own a piece of one of one of the most celebrated national buildings in the Blue Ridge Mountain region, The Cedars will be the most luxurious branded residential offering in the state.We are proud to add the iconic landmark of The Cedars to our rapidly growing luxury portfolio and continue its legacy in the years to come.”
The 127-unit luxury residential community “is poised to transform the mountain town that has become the preferred second-home destination for generations of South and Northeast Floridians due to its Central East Coast location and its friendly outdoor culture,” Fairmont said.
The 3.55-acre development, designed by Hendersonville architect Tamara Peacock, includes a magnificent restoration of the original Antebellum grand hotel, listed on the National Register of Historic Places, as a focal point. Two new six-story mid-rise buildings will be comprised of studios, 1-, 2-, and 3-bedroom units, and impressive penthouses, all with expansive terraces and stunning mountain views. Prices are expected to range from $400,000 to $3.8 million.
The property will bring a new level of luxury, unforgettable experiences and exceptional service to the Blue Ridge Mountain region, known for its beautiful scenery, rich culture and history, and welcoming community.
Popular destinations located within a 30-minute radius of Hendersonville include downtown Asheville, Biltmore Estate, Asheville Regional Airport, Blue Ridge Parkway, and both Pisgah National Forest and Dupont State Forest.
In addition to on-site privileges, owners of Fairmont-branded residences are invited to join the Accor Ownership Benefits Program by presenting them with an invitation to join Diamond status in ALL-Accor Live Limitless, a loyalty program that provides access to a VIP reservation desk and special offers. rates for residence owners in more than 5,000 Accor hotels and resorts worldwide.
The Cedars Hotel was originally built in 1914 in the neoclassical style for Jeannie Collins Bailey, whose husband, railroad magnate JW Bailey, ran the Southern Railway at the time. Just a few years earlier, Theresa Fair Oelrichs and her sister, Virginia Fair Vanderbilt, opened the first Fairmont hotel in San Francisco in honor of Nevada senator and mining magnate James Graham Fair. Historical similarities created a harmonious union between The Cedars brand and Fairmont.
“My family grew up in The Cedars and there is no better time to welcome the next generation to discover and feel at home in Hendersonville. Fairmont brings decades of experience restoring historic properties to their former glory and will deliver a level of sophistication the market has been waiting for while complementing the region’s welcoming culture,” said Gregg Covin, developer. “Fairmont Heritage Place – The Cedars responds to the growing desire for second home ownership in Western North Carolina. Market studies show a supply of less than two months of available housing inventory, with demand exceeding supply.
Founded in 1907, Fairmont Hotels & Resorts, part of the Accor hotel group, has built models of hospitality, magnificent architecture and service in extraordinary destinations; playing an important role in shaping the social fabric of each place. Renowned for creating unforgettable grand hotels and residences in the heart of every destination, Fairmont was a natural fit to continue the next era in The Cedars’ long history.
With more than 80 locations worldwide and several under development, the Fairmont brand boasts some of the world’s most famous hotel and residential addresses, including The Plaza, a Fairmont-managed hotel in New York City, The Savoy in London, Fairmont San Francisco, Fairmont Banff Springs in Canada, Fairmont Heritage Place Mayakoba in Mexico, and the recently renovated Fairmont Century Plaza in Los Angeles, among others.