A “wizard tent house,” the Hobbit-inspired “Dragons Knoll” and a three-level treehouse. Some of these homes might be familiar to those who’ve stayed the night in the area, but more likely are known to the tens of millions who have seen the intricately designed homes on social media.
Earth and Sky Dwellings has been developed by Carolina and Mike Parrish, who created seven short-term rentals at the Woodfin location over the past eight years. One of the early treehouses was featured on HGTV, with later additions featured on PBS.
Now, the Parrishes are looking to sell it all for the price of $20 million.
Tyler Coon, CEO and founder of Savvy STR Agents, estimates the homes have seen over 100 million views on social media. The estate is being marketed toward someone looking to make a big move in the short-term rental market.
“Earth & Sky Dwellings is a remarkable investment opportunity which stands to be one of the largest commercial real estate deals in the country for short-term rentals,” Coon said in a news release.
The sale of the estate comes as Buncombe County looks to find new ways to regulate short-term rentals. The Buncombe County Planning Board will hold a listening session on possible regulations Jan. 22.
Woodfin, where the rentals reside, restricts short-term rentals from residential zones. The rentals are in a “Community Shopping” zoning district.
Savvy STR Agents is an Asheville-based real estate firm specializing in short-term rental investments. Coon is listing the property, where he describes the location as a “short-term rental mecca” in a promotional video.
The $20 million asking price is based on the expected completion of the construction of 13 new units by June, according to the listing on the Savvy Realty website. The new units include a six-unit wedding venue and seven-units with unique designs.
When the new homes are complete, the 17-acre parcel will have a total 20 homes designed with the intent of short-term rentals by the end of the year.
“Right now, the property comprises seven existing units which are already on Airbnb as short-term rentals,” Coon says in the video.
One home titled “Dragons Knoll” sports lofty circular wooden doors with a subterranean living space and currently rents for $380 a night on Airbnb. Another one of the homes, titled “Alchemy,” requires the use of a 12-foot slide to enter the living quarters. Alchemy rents for $400 a night.
Currently, the six homes that have been appraised by the Buncombe County Tax Department have an average tax appraisal of around $267,000.
The Parrishes have been working on the development since 2016, according to the news release.
“The owners, Mike and Caroline Parrish, embarked on a journey to create a magical retreat by building their first unit “Sanctuary” treehouse in 2016 before opening it up for business in April 2017. “Sanctuary” was followed by the underground home, “Dragons Knoll”, and then came “The Perch”, a handicap-accessible home with an outdoor hanging bed,” the Savvy Realty news release reads.
Want to go?
Buncombe County Planning Board listening session on possible short-term rental regulations will take place at 5:30 p.m. Jan. 22 at AB Tech’s Ferguson Auditorium.
Will Hofmann is the Growth and Development Reporter for the Asheville Citizen Times, part of the USA Today Network. Got a tip? Email him at [email protected]. Please help support this type of journalism with a subscription to the Citizen Times.