CyberAds Inc., a Boca Raton, Fla.-based real estate development company, has increased the size of its investment in The Vineyards, a luxury motorhome complex in the Coachella Valley near Palm Springs, Calif.
CyberAds has acquired an additional 12% stake in The Vineyards, which increases its investment to 34% of the development, which opened last November.
CyberAds made its initial purchase of 22% of The Vineyards earlier this month.
Eventually, CyberAds wants to own 78% of The Vineyards.
Phase One of The Vineyards consists of 69 luxury motorcoach sites. Phase Two will result in the development of 79 more motorcoach spaces.
When completed, The Vineyards will include 460 luxury motorhome sites consisting of a casita, a 1 1/2-car garage, laundry room and full bathroom. The typical site will cover 530 square feet with larger options up to 1,100 square feet.
There also is 30 acres immediately adjacent to the motorhome park for retail development, an extended stay hotel and an entertainment complex.
“We welcome a development like that (the Vineyards),” said Coachella (Calif.) Mayor Richard Macknicki.. “We’re very happy it’s in Coachella and people are seeing what’s available in the city.”
The target market for The Vineyards is part-time winter residents who either want a home base for their motorhome or want to move there motorhome permanently.
Prices range from about $179,000 to $319,000.
Bob Marshall, a sales associate, said a unique aspect of the project is that residents own the land, unlike other motorcoach facilities that just lease the motorcoach sites.
“There are a lot of RV parks and centers, but ours are strictly for sale. They own the land itself – the building,” Marshall said.