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The Cedars, a historic hotel owned by the Shipman family since 1976 and located two blocks from Hendersonville’s main street, will become Fairmont Heritage Place – The Cedars, Hendersonville, a luxury residential development that is the first of its kind in Blue Ridge Mountain region of North Carolina.
In February 2021, the Hendersonville City Council approved the rezoning of the property to support the restoration of the historic building and the development of two new condominium buildings. After a year of negotiating with hotel chains and planning by owner Tom Shipman’s son-in-law and Miami real estate developer Gregg Covin, work on the site is now beginning.
The residences will debut in early 2025.
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“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 in restoring historic properties to their former glory and will deliver the level of sophistication the market has been waiting for while complementing the region’s compelling culture,” Covin said in a press release. “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.”
The location features 127 luxury condominium units in two new six-story mid-rise buildings connected to the restored original building by a glass atrium. The condominiums will consist of one, two and three-bedroom units and penthouses with prices ranging from $400,000 to $3.8 million. The historic building will feature a lobby lounge, bar, signature restaurant, specialty cafe and reception.
The property will also feature flexible meeting and event spaces, an extensive wellness center with a spa, several swimming pools, a fitness center, a cooking school, a multifunctional family room, and retail space. Residents and guests will also have access to the nearby Tom Fazio-designed Champion Hills Golf Club. The Cedars will continue to host weddings, and the West Lawn will be renovated with weddings in mind, according to the release.
Owners will be able to participate in a rental program, where they can let Fairmont rent their condos to short-term tenants, such as a hotel room. According to the press release, Fairmont and Covin expect the development to be used primarily as a second home, especially given the attention Hendersonville receives from South and Northeast Floridians.
The Cedars Hotel, which is listed on the National Register of Historic Places, was originally built in 1914 for Jeannie Bailey, whose husband, JW Bailey, ran the Southern Railway. 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.
“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,” said Accor North & Central CEO America, Heather McCrory. unique opportunity to own a portion of one of the Blue Ridge Mountain region’s most celebrated national buildings, The Cedars will be the state’s most luxurious branded residential offering. We are proud to add the iconic landmark of The Cedars to our rapidly growing luxury portfolio and continue its legacy for years to come.”
Fairmont is part of Accor, the second largest operator of luxury hotels in North America and a leading hotel group worldwide, according to the statement. With more than 80 locations worldwide and several under development, the Fairmont brand boasts some of the world’s most renowned hotel and residential developments, 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 Fairmont Century Plaza in Los Angeles.
To learn more about Fairmont Heritage Place – The Cedars, Hendersonville, or to be added to the list of potential buyers, visit www.fairmontresidencesthecedars.com. The sales gallery is currently open and located at 739 North Main St., Hendersonville. Sales are expected to start soon.