DataSource Controls :: Update 1 Row = 1 And Update All Other Rows = 0?

I have an update / insert statements. If the user selects the checkbox IsPrestigeFeatured, I want that row to be set to 1 and I want all other rows to be set to 0. E.g. so there is only one row which is "Is prestige Featured"

My update statement:

ALTER PROCEDURE dbo.Update_Property
@propertyId int,
@propertyTypeId int,
@Name ntext,
@Price int,
@DescriptionResultsExcerpt text,
@Description ntext,
@Characteristics ntext,
@IsRenovation int,
@IsCharacter int,
@IsPrestige int,
@IsHomepageFeatured int,
@IsPrestigeFeatured int,
@CityId int,
@DepartmentId int,
@CommuneId int

As
UPDATE Property
SET Name = @Name, PropertyTypeID = @propertyTypeId, Price = @Price,
DescriptionResultsExcerpt = @DescriptionResultsExcerpt,
Description = @Description, Characteristics = @Characteristics,
IsRenovation = @IsRenovation, IsCharacter = @IsCharacter,
IsPrestige = @IsPrestige, IsHomepageFeatured = @IsHomepageFeatured,
IsPrestigeFeatured = @IsPrestigeFeatured, CityId = @CityId,
DepartmentId = @DepartmentId, CommuneId = @CommuneId
FROM Property
WHERE (PropertyID = @PropertyID)