The Riverfront is the Centerpiece of the Revitalization of Downtown Napa

2008-09-15 23:35:01 -

- For The Riverfront Ivana Gaspic, 415-434-0303 ext. 35 igaspic@gauger-associates.com The Riverfront, a premier mixed-use community in downtown Napa, announced a near sellout at a preview event for its first offering, ten reserve homes called "The Collection". The new community - slated for completion in February 2009 - will stand as the gateway to the new downtown. It borders 550

feet of new riverside promenade and encompasses 50 homes known as the Riverfront Residences, 40,000 square feet of retail, 30,000 square feet of office space and provides underground parking for 229 vehicles.

"Most of the buyers currently have homes in Napa and have been watching the building go up with anticipation," said Mike DeSimoni Sr., president of Channel Properties. "Several indicated they had been waiting for luxury, downtown living for some time. They are very excited about the redevelopment of downtown and the lifestyle of being able to walk to fine dining, the opera, and other downtown events."

Although the remaining residences are not scheduled to be available until January 2009, due to the overwhelming success of the preview event another preview is being planned for late October. Like the first one, it will be an exclusive VIP event only for people who register at RiverfrontOfNapa.com.

"We knew there was a demand for luxury living in downtown Napa, but this event surpassed our expectations," said DeSimoni. "We sold all ten homes, ranging from the high-600s to 1.675 million in one evening. That's impressive by any measure, but in this market, it's a true testament to the quality of our vision."

Channel Properties also announced that Morgan Stanley has leased 8,600 square feet and will relocate its Napa office to the Riverfront. Channel is currently in negotiation with major restaurateurs for undisclosed locations within the property.

The DeSimoni family has strong ties to Napa; several generations call the valley their home. Channel Properties has distinguished itself as a developer whose heart is in blending old world design with modern luxury. Each of Riverfront Residences' homes is graced with hardwood floors, granite slab counter tops, GE Monogram(R) appliances, Toto(R) and Kohler(R) fixtures. The company has also won acclaim for its restoration of noted local landmark buildings. In 2003, they were awarded the Napa County Landmarks Historic Preservation award for their work on downtown's Winship Building. They are currently renovating Napa's Alexandria Square building.

About The Riverfront

The Riverfront, a Channel Properties mixed-use community at 588-790 Main Street in downtown Napa, CA is comprised of 40,000 square feet of retail, 30,000 square feet of office space, and the Riverfront Residences, 50 one to three bedroom homes starting from the high $600's. Homes are conveniently secluded above Riverfront's shops and fine restaurants. For more information on the condominium sales, please visit RiverfrontOfNapa.com or call 707-252-5463. For information on commercial leasing, please visit mspsinc.com or call 925-299-8170.

(Photos available on request.)

Sales Begin With a Bang - All Ten Reserve Homes Sell in One Night