The Fairmont Heritage Place at Ghirardelli Square is a very interesting development and fractional ownership opportunity. The location is top notch (could get a little annoying with all the tourists milling about though), the views from the upper units will be incredible (think 4th of July), and the amenities, services, and nearby attractions should keep you busy for quite some time (or feed your chocolate addiction).

A bunch of sweet before shots for you…after will be in Spring 2008

Views from the balcony of the “Cocoa” building, which will house mainly two bedroom units:

This is what will be the lobby and valet area which is in the “Cocoa” building.

This is a view from the “Woolen Mill Building” and the garden terrace in the foreground looking back toward the project. The “Clocktower” is on the left, which will house the 3 bedroom units, the “Cocoa” is in the middle under the big “Ghirardelli” sign, the “Chocolate” being directly in front of the camera.

Inside the second floor of the “Chocolate” building looking north.

On this terrace will be a fire pit, and outdoor loungy area (can’t wait to see the after of this spot.)

“Cocoa” building which will house many 2 bedroom view units.

“Clocktower” building will house 3 bedroom units

This is inside the “Woolen Mill Building” which is closest to the water and will have some amazing views and as you can is well under way.

My walkthrough was basically a chance to get in and see the project under construction and get some photos to complement the “after” renderings provided by zum llc.

There are 54 homes in the entire development, 43 of which are planned to be two bedrooms. There are 540 interests in the 54 homes being sold, you get a 10% interest in one property (and you get a deed, so you are free to rent your time out). So far they have sold around 70 interests (sold meaning deposits have been received), and they are expecting move-in and occupancy in Spring of 2008 (could be a good investment opportunity here). The first release price of the two bedrooms was $199,500, the price then increased to $233,179. They have two interests left at this price and they will then be implementing a price increase. The small amount of three bedroom units that were initially released have been “sold”, but they will have more in the future, and the price is not yet determined.

You get 35 days of use per year for each 1/10 interest you purchase, as well as numerous benefits around the world as part of your ownership in the Fairmont portfolio. Each owner will have a membership to the 10,000 square foot spa and fitness facility, access to indoor and outdoor owners’ lounge areas, parking, storage, signing privileges at the Fairmont San Francisco, and some other amazing opportunities within Fairmont Hotels & Resorts, and Fairmont Residences.

All the units will come with high end materials and appliances by such names like Sub-Zero, and Wolf, and there are a number of new commercial tenants (restaurants, spa, wineries) that are planned to go into the Ghirardelli Square. The homes are fully furnished. All you have to do is show up, hit the valet (not literally), use room service, shout orders at your private chefs, waiters, and 24 hr concierge…then take off and just leave the key (after you stuff your belly with a big ice cream sundae from downstairs).

It seems like an interesting opportunity, and I invite you to go visit the sales office and check it out. There is a sales office at Ghirardelli Square, as well as one in the Fairmont downtown.

–The Fairmont Heritage Place at Ghirardelli Square [Virtual Tour]

–The Fairmont Heritage Place at Ghirardelli Square [Website].