HOME     COMMUNITY     AMENITIES     REAL ESTATE     RESALE     DIRECTIONS     GOLF&CLUB     Waterhouse Public Relations FOR IMMEDIATE RELEASE April 9, 2008 Contact: Amy Mace 423.827.5669 Exclusive Canyon Ridge Introduces Private Residence Club Gated golf community first in Chattanooga area to break ground on fractional ownership homes Lookout Mountain, Ga. – This spring, the privately-owned Canyon Ridge Club on Lookout Mountain will begin construction on the first of 24 custom built homes comprising this fractional ownership development. The exclusive Lookout Mountain Private Residence Club will be the first of its kind in the Chattanooga area. Owners will enjoy full membership into the Canyon Ridge Club along with all the benefits of owning a luxury vacation home at a small percentage of the cost and without the responsibility of upkeep. “Fractional ownership is the most worry-free, cost-effective way to own a vacation home in one or more locations,” said Randy Baker, CEO of RCB Management, Inc. the projects developer. “We are looking forward to developing Chattanooga’s first Private Residence Club and providing vacation-home buyers the opportunity to purchase ownership in a luxurious residence within one of the area’s most prestigious communities.” Real Estate Partnerships or fractional ownerships appeal to those in the market for a luxurious getaway but due to cost, may be unwilling or unable to purchase a second home they may only use for a few weeks out of the year. Fractional ownership offers second-home buyers the opportunity to purchase luxury vacation home in pristine locations at a fraction of the cost. Ownership in the Lookout Mountain Private Residence Club is not a timeshare; it provides deeded ownership. Members receive full benefits of traditional ownership while professional management, concierge service and a comprehensive maintenance program create worry-free vacation use without the stress and responsibility. Owners will posses a deed to a specific property. Each home will be divided into no more than six recorded deeds and, like any other form of real estate, the deed or interest can be sold or transferred by the owner or by a licensed real estate agent. The Lookout Mountain Private Residence Club will be located along the 18th hole of the club’s picture-perfect golf course. Owners will be able to enjoy year round access to all the gated community’s offered amenities including golf, tennis, heated pool, pavilion grill, hiking trails and coming soon - a fitness center complete with spa services. While fractional real estate is relatively new to this region, The New York Times reported in 2007 that shared ownership was growing rapidly, increasing to $1.65 billion in sales last year for the United States, Canada and the Caribbean, up more than 30 percent from 2005 despite the slumping housing market. “Fractional ownership is the fastest growing sector in luxury vacation homes,” said Baker. “Because of its flexibility, array of benefits at a low cost, fractional ownership also provides an exciting option to real estate buyers. We are excited to be developing the first private residence club for the Chattanooga and surrounding area.” About Canyon Ridge Club Canyon Ridge Club is 430 acres of privately-owned golf resort just under two hours from Atlanta, Birmingham and Nashville – and only minutes from Chattanooga. The community offers a variety of ownership in single-family homes, townhomes and –coming soon condominiums. The Canyon Ridge golf course opened for play in June 2005 and is located in a pristine setting where all the amenities of an exclusive, gated, golf course community fit naturally into the landscape. Back to Home