Wrong. Our buyer feedback is that they want to see and touch. We knew that, right? Well, we kinda forgot, but now have re-learned.
So, we are, to use an analogy, going to walk and chew gum at the same time: We will sell club memberships to locals while we sell fractions, lots and homes. The club memberships are aimed at those who have a home and boat, but are not on the beach. We'll take reservations and use those reservations to advance our funding for the $5 million Beach Club and community pool, both up 19 feet to meet FEMA requirements!
So, don't be a developer if you don't want to be nimble.
More orderly is the Florida Keys Club on Marathon Key, where the deal is cut with the former equity golf course owners to buy the property, and the re-design of the golf course is underway as is the architecture of the fractional cottages and the new boutique hotel with lock out rooms to be sold at the appropriate time. I'm sure we'll get into some twists and turns once sales begin. Our two managing directors, Marvin Rappaport and Peter Rosasco, are both talented and terrific businessmen.
Knocking at the door, though the door is not open yet, is Greek Peak in New York State. The project went into BK a few years ago due to its lender failing and a winter with very little snow. Local businessmen bought it from the FDIC earlier this year, and have asked for a proposal much like we had in line before the financial problems arose. They began construction on their Hope Lake Lodge in August of 2008. Talk about timing!
I write this flying back from New Orleans, where that deal continues to move ahead. Next week, I’m off again, heading to London for the annual Trafalgar dinner celebrating that battle of 1805, where in the British gained the sea superiority that allowed them to 'rule the world' during the 1800s. Also, visiting the newly opened wing of the Greenwich Naval Museum: Nelson, Navy, Nation. I toured the facility last spring when it was under construction and now I'll see the finished product. Lastly, a stop at the HQ of the Order of St. John, at St. John Gate in London, to tour the museum and thank the Queen for my membership approval.
Knocking at the door, though the door is not open yet, is Greek Peak in New York State. The project went into BK a few years ago due to its lender failing and a winter with very little snow. Local businessmen bought it from the FDIC earlier this year, and have asked for a proposal much like we had in line before the financial problems arose. They began construction on their Hope Lake Lodge in August of 2008. Talk about timing!
I write this flying back from New Orleans, where that deal continues to move ahead. Next week, I’m off again, heading to London for the annual Trafalgar dinner celebrating that battle of 1805, where in the British gained the sea superiority that allowed them to 'rule the world' during the 1800s. Also, visiting the newly opened wing of the Greenwich Naval Museum: Nelson, Navy, Nation. I toured the facility last spring when it was under construction and now I'll see the finished product. Lastly, a stop at the HQ of the Order of St. John, at St. John Gate in London, to tour the museum and thank the Queen for my membership approval.
