Restoration Hardware Just Bought This Abandoned $25 Million Napa Complex
Retailer Restoration Hardware (RH) sets out to bring a forgotten Napa Valley property back to life. He’s looking to transform the former Napa Soda Springs Resort — just a 15-minute drive from downtown Napa — into a tourist-friendly winery and guesthouse.
HR CEO Gary Friedman shared the news in a call for end of summer results, according to the San Francisco Chronicle. Although financial terms were not disclosed, documents filed with the Napa Valley Recorder’s Office list the deal for $25 million, according to a report by SiliconValley.com.
RH, a high-end furniture retailer, intends to restore the former resort town into a high-end destination, according to the San Francisco Chronicle. The luxury resort opened in 1856, heralding the restorative health benefits of nearby mineral springs. It closed shortly after World War I as natural springs became less popular.
On the earnings call with Wall Street analysts, Friedman said RH intended to “build an experience the world has never seen.”
It’s not without its own challenges, of course – while some of the original 1856 structures still stand, they’ve never been remodeled after several fires. At the time of its construction, the spa was frequented by wealthy vacationers attracted by the beneficial halo of water. After the resort closed, the property also bottled âNapa Sodaâ beverages, sourced from the historic sources. The facades of the buildings are still a seemingly haunting reminder of the resort’s heyday.
The historic property hit the market in late 2019 with an asking price of $50 million. The 857-acre listing was available for purchase for the first time in four decades and includes an 80-foot waterfall, numerous mineral springs and the namesake Soda Creek.
It’s not HR’s only recent hospitality venture; earlier this month, he opened the RH Guesthouse in New York. Luxury accommodation booking details emphasize guest privacy and discourage taking photos or social media postaccording to a September 8 Press release:
âThe RH Guesthouse was designed with privacy and luxury in mind. Privacy is the one thing everyone has given away on social media, and the one thing the internet has taken away, because you can access anyone online,â says Gary Friedman, CEO of HR. “We believe that privacy is going to become a large and important market, and RH Guesthouse has the opportunity to define this new market with an unprecedented level of design, quality and hospitality.”
While full plans have yet to be shared for the Napa Soda Springs renovation, the RH Guesthouse’s luxury concepts could be a clue to the historic site’s makeover.