When Mark and Jayelene Betonti began searching for a second home where they could escape the hectic day-to-day life of Washington, D.C., they didn’t have to look far—just a hundred miles south to the outskirts of Charlottesville, Virginia, where they settled into a home at the Estates at Keswick Hall (www.keswickestates.com). Set in the Blue Ridge Mountains just down the road from Thomas Jefferson’s Monticello, the 600-acre community is anchored by Keswick Hall, a stately 48-room Orient-Express Hotel.
"It’s a very soothing place to come home to," says Betonti, who owns a D.C. contracting business. "I would never have thought I would become a birdwatcher, but we’ve spotted more than 20 different kinds just in our backyard. There’s an immediate sense of relaxation once I arrive here."
And on those occasions when Betonti wants to pick up the pace, he and his family can head into Charlottesville, home to the University of Virginia, and a small universe of cultural, recreational, and dining experiences.
"For a relatively small city, it’s a very sophisticated place," says Betonti. "Sporting events, an outdoor pedestrian mall, concerts in the amphitheater, about any sort of entertainment you might imagine—it has it all."
Which explains why growing numbers of affluent second-home buyers are drawn to university towns, especially those that offer luxury residential options that can put them within easy striking distance of everything a campus community has to offer.
While Betonti and his family live in a 12,000-square-foot Old World Tuscany-style lakefront home, Keswsick Hall offers significantly smaller options, including a collection of homes designed by architect and visionary Robert A.M. Stern and aimed at those who are looking to downsize. And while Stern’s 2,500 to 5,000-square-foot residences might be smallish in size when compared with other estate-style homes, they are big in design.
"They reflect a lot of thought regarding simplification and how people are choosing to live their lives these days," says Phillip A. Gesau, vice president and director of global real estate for Orient-Express. "Yes, they might be smallish, but they don’t give up much."
The homes come in five different designs that honor a classical style while including fresh modern details such as large arched windows and soaring ceilings to optimize natural light elements. They also offer a connection to the outdoors through private terraces and formal gardens, with easy access to all of the community’s amenities including an Arnold Palmer-designed golf course, full-service spa, tennis center and several fine-dining options. Lot prices at The Estates at Keswick Hall start at $350,000 with construction prices for the Stern-designed homes starting at $850,0000.
In Austin, Texas, home to the University of Texas and its 52,000 students, second-home buyers have traditionally looked to gated communities on the outskirts of town. But that has changed, in large part thanks to The Austonian, which at 56 stories is the tallest residential building west of the Mississippi. Occupying one-third of a city block in the heart of town, the 167 residences at The Austonian, just south of the state capitol and a block from the trails of Lady Bird Lake on the Colorado River, come with views of the Texas Hill Country. The array of amenities includes 6,000 square feet of entertainment space available for parties, a billiard and game room, a wine vault, theater screening room, 6,000-square-foot fitness center, 75-foot outdoor swimming pool, and a 600-square-foot dog park—all accessible exclusively to residents and their invited guests.
Considering that University of Texas football coach Mack Brown owns a residence there, The Austonian comes alive on game day. In addition to offering pedicab rides to the stadium, The Austonian hosts a pre-game cookout on the 10th floor and, when it’s an away game, makes sure that residents can watch on big screens in the billiard and game room, the theater, or by the pool. There’s also a post-game dinner at one of The Austonian’s restaurants, Second Bar + Kitchen or Garrido’s. Residences at The Austonian range from 1,225 square feet to 8,320 square feet. Prices start at $600,000, with penthouses priced from about $9 million.
In Boulder, Colorado, recent years have brought an assortment of high-end residences to the downtown area. Owners are looking not only for proximity to the University of Colorado, but its acclaimed restaurants and a chance to experience the many recreational pursuits that regularly help earn Boulder a spot on those "Fittest Cities in the United States" lists.
"We get lots of people buying in downtown who want a place near their children at the university," says Megan McCarthy, of The Arête Luxury Residences (www.thearête.com), which welcomed its first owner in 2010 and has since sold about half of its 19 residences. "Still, there are significant numbers of people who don’t have any connection to the university but just want to soak up everything it has to offer, along with the many recreational, cultural, and world-class dining options in Boulder.
The Arête’s 19 custom-finished condos and 3 penthouse residences, priced from $685,000 to $6 million, each comes with about 400 square feet of patio space with easy access to the Pearl Street Mall and the Boulder Creek walking and hiking path. There are sweeping views in all directions of the Flatirons, the cityscape and the university.
"Once people take in the views, it’s hard for them to leave Boulder," says McCarthy.
