Spas Becoming Popular New Amenity in Condo Market

Condominiums offering swimming pools, hot tubs and tennis courts used to be all the rage. These days, however, an increased interest in wellness has made spas the hot-ticket condo amenity, and a growing number of communities around the nation are catering to this demand.

In June, Canyon Ranch unveiled plans for a 67-story condo-hotel in Chicago, Illinois, boasting a full range of spa services. The $650 million project, billed as Canyon Ranch Living-Chicago, is the third such “lifestyle community” run by Canyon Ranch, which has two others in Miami, Florida, and Tucson, Arizona. And Canyon Ranch isn’t the only spa with residential offerings; communities like this are becoming a burgeoning spa submarket.

“When it comes to luxury living, spas are becoming what golf courses became 30 years ago—a must-have amenity, providing aging baby boomers with their most important lifestyle requirements, namely health, wellness and fitness, pursued in a spa setting," says Susie Ellis, president of Spa Finder.

Today, luxury spa communities are popping up across the country. A brief sampling includes Vail Cascade Resort and Spa in Colorado, Sundara Inn and Spa in Wisconsin, La Costa Resort and Spa in California, and Snake River Lodge and Spa in Wyoming. Despite their high price tags, the public’s desire for wellness seems to have trumped the condos’ steep cost.

According to a Canyon Ranch spokesperson, of the 431 residences in their Miami community, set to open this fall, only 50 are still available, and buyers are already lining up to reserve space in the Chicago project, set to open in 2011.

–Chris Towery