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Tuesday, July 6, 2010

Transfer Smart News: Timeshare Company’s Expansion Shows Hopeful Signs

Despite the number of owners today who are trying to get out of their timeshare contracts, some resorts are on their way to expansion. According to the Chamber director, this is a hopeful signs to others. One of these resorts is the Spinnaker Resorts with its contractor which recently celebrated the "topping off" of the new south tower. When complete early next year, the seven-story facility will add 53 more units, bringing the total to 168 units at the timeshare resort at 51 S. Atlantic Ave.

In industry jargon, "topping off" means the last beam getting put in place in the concrete frame and construction starts on the top. According to Charlie Door, a senior vice president for Hardin Construction, they are right on schedule and adding the $11.1 million project is now about 50% complete.

The said project originally was slated to begin in 2006 but it suffered a series of delays. This includes the changes in design, as well as concerns from the state Department of Environmental Protection. Besides the new building, the South Carolina-based Spinnaker is also spending between $5 million and $6 million to renovate the existing tower.

Meanwhile, Mary Rhodes, the executive director of the Ormond Beach Chamber of Commerce, said that the city leaders are happy to see the company went ahead with the project even in the current economic environment. She stated that the construction has kept about 100 people employed on a consistent basis.

On the other hand, the pre-sales of such vacation property will open at the end of July and the beginning of August. Once the project reopens, timeshare owners will notice several major improvements in the resort. That will include the addition of a spa and a larger kiddie pool. At the same time, the sight of construction may inspire others to follow through on growth plans they may have tabled.

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