INDIAN WELLS ,CA— Chicago-based developer Jerry Fogelson, city officials and Fairmont Hotels announced that the proposed Miles Crossing development in Indian Wells will be home to a Fairmont Residence Club, featuring condos, villas and a 46-room, “four-diamond-plus” hotel where rooms could go for as much as $1,200 a night. “We love the valley and think that Indian Wells is the destination within the valley,” said Thomas Storey, executive vp of development for Fairmont Hotels and Resorts, which he says is expanding its growth strategy to target the luxury vacation industry. “Our challenge is to maintain our exclusivity and this location works very well with this.” The Miles Crossing development— located along Highway 111 and bounded by Miles Avenue— is slated to be part of a 600-acre site that will also include an upscale shopping center complete with at least three restaurants, a drug store, office space and dozens of high-end boutiques, developer Fogelson said Thursday at a meeting of the Indian Wells Redevelopment Authority, the Desert Sun reported. The Fairmont is the first formally announced attraction for the site and is expected to open in 2007. “Our target market is retailers who are upscale and dont have proper representation in the valley— this is not going to be another big-box development, no Targets or Wal-Marts,” said Fogelson of Jersen Investments. The Fairmont development would have 39 villas, 46 units in the hotel and 12 townhomes. The condominium units are expected to go for $500,000 to $900,000, and owners would have the option of putting their units into a pool for rental when they are not using them. Those units would rent for more per night than the rooms in the hotel.
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