Ft. Wilderness Cabins becoming DVC?

[DonMacGregor]

Resale restrictions are confirmed (see Section 5.8 of the DVC Resort Agreement, which is attached as Exhibit F to the Declaration).

Sweet. I have surgery tomorrow, and this will provide me with hours of reading entertainment while recovering.

 

[thadhouse]

Exhibits B and C are very interesting as well. Lots more info on the Trust.

 

[Unclelude]

If someone needs a place for 2 adults and 4 children to sleep, then the cabins make sense. But I would not want to be a party of 6 adults cramming in there.

But for a party of 5, a Kidani 1-bedroom (with its 2 bathrooms) makes a lot more sense.

For this reason, the cabins should IMO cost fewer points per night than a Kidani 1-bedroom.

Also, the cabins should cost fewer points per night than 2 Studios at OKW or SSR. 2 Studios is going to be a much better arrangement for 6 adults.

I like your logic here. I'm kind of excited about these ... the AKL point charts for 1BR look like around 30 per night average ... I'd have a tough time (beyond one and done) picking a cabin over Kidani 1BR if they were much more than that.

No shared walls is cool... some value in that ... If they average 30 per night that's almost 4million points ... not sure how that factors in, I also wonder if they will have different 'views' ... like extra points for pet friendly.

Fun stuff!

 

[Hubalorian]

So interesting! DVC is moving forward with the trust or setting the stage so that they can utilize it as some point. Resale restrictions still existing I finding curious especially after all the news about Poly2 officially not having them…..

I have a feeling, this will be a very interesting year for DVC. Buckle up!

 

[JackosinDIS]

Interesting. I note the association is named as the Palmetto Trust Association so almost certainly all going in to the trust that has been set up.

 

[Hubalorian]

Interesting. I note the association is named as the Palmetto Trust Association so almost certainly all going in to the trust that has been set up.

I wouldn’t say all. There is language stating all, some or none of the units could be declared in the trust. However, it is a clear indication they will be offering a trust product in the near future

 

[JackosinDIS]

I wouldn’t say all. There is language stating all, some or none of the units could be declared in the trust. However, it is a clear indication they will be offering a trust product in the near future

There is a statement saying that ‘all or a portion of the resort has been contributed to the trust’. I think it’s a done deal on the cabins

 

[Hubalorian]

There is a statement saying that ‘all or a portion of the resort has been contributed to the trust’. I think it’s a done deal on the cabins

Not arguing that the cabins to some degree will be sold in the trust format. If all of the cabins would be solely trust based, why add in “or a portion”. It leaves them flexibility if fort wilderness buyers are not interested in a trust product. If I were buying for the main reason to stay in the cabins, I wouldn’t want to give away my home resort advantage.

 

[Hubalorian]

Not arguing that the cabins to some degree will be sold in the trust format. If all of the cabins would be solely trust based, why add in “or a portion”. It leaves them flexibility if fort wilderness buyers are not interested in a trust product. If I were buying for the main reason to stay in the cabins, I wouldn’t want to give away my home resort advantage.

Just went back and reread, I may have misunderstood the meaning. I think it is very likely all of fort wilderness will be sold only as a trust product

 

[tidefan]

Resale restrictions are confirmed (see Section 5.8 of the DVC Resort Agreement, which is attached as Exhibit F to the Declaration).

Well, this potential purchaser is now officially out.

Quite honestly, as an aside, we are considering getting an RV and that is more economical than the cabins anyway (and I can use it all year round). (ETA: Fully understand that any RV purchase may not be "economical" )

 

[scottiesumms]

There is a statement saying that ‘all or a portion of the resort has been contributed to the trust’. I think it’s a done deal on the cabins

I think it is very likely all of fort wilderness will be sold only as a trust product

I think you're right.

Having other resorts as part of the trust helps mitigate some of the concern that CFW isn't a truly "deluxe" property, but now buying it gets you access and an advantage to other trust-owned properties (subject to availability )

 

[DonMacGregor]

(ETA: Fully understand that any RV purchase may not be "economical" )

 

[Cfabar1]

The only word I can think of is "yuck"....

 

[tidefan]

View attachment 822363

That's just funny right there!

You are right. It's just an excuse to use my portable 22" Blackstone griddle...

 

[DonMacGregor]

That's just funny right there!

You are right. It's just an excuse to use my portable 22" Blackstone griddle...

Yup, grabbed a new one a couple of months ago:


Sam's Club version, but nicer than my old Blackstone.

You’ll need one of these too, sooner or later:

 

[Roughians_satchel]

I think you're right.

Having other resorts as part of the trust helps mitigate some of the concern that CFW isn't a truly "deluxe" property, but now buying it gets you access and an advantage to other trust-owned properties (subject to availability )

I still don't understand the trust. So properties in the "trust" will have 11 month booking at all the properties it includes - and competes with those who only own the individual resort? What happens to properties that existed before the trust - is there some conversion of points that will happen to be included in the trust?

And if all of the cabins are in the trust, then they don't have any home resort?

 

[tidefan]

Yup, grabbed a new one a couple of months ago:

View attachment 822364
Sam's Club version, but nicer than my old Blackstone.

You’ll need one of these too, sooner or later:
View attachment 822365

Our home griddle is a 36" Members Mark. Works great!

 

[Sandisw]

Just went back and reread, I may have misunderstood the meaning. I think it is very likely all of fort wilderness will be sold only as a trust product

I have read that beyond the initial phases of declarations, they can decide to create a different plan for other units. While I think all cabins will be sold via a trust use plan, they are reserving the right to do something different.

 

[tidefan]

I still don't understand the trust. So properties in the "trust" will have 11 month booking at all the properties it includes - and competes with those who only own the individual resort? What happens to properties that existed before the trust - is there some conversion of points that will happen to be included in the trust?

And if all of the cabins are in the trust, then they don't have any home resort?

So, what this means is that trust members would have 11 month access to bookings at FW, and everyone else would be able to book at 7 months. I do wonder if there is any language for Fixed Weeks (those that have read can let me know) as I would imagine that those would be very popular for Halloween and Christmas.

For existing properties, I'll use Poly as an example. If, it is part of the same association as indicated, but now all of the new units are declared as "trust" units, then both deeded owners AND some percentage of trust owners (limited by the trust's ownership in the association) would have 11 month advantage at both the new tower AND the longhouses. Everyone else would be at 7 months.

However, as @Sandisw has stated elsewhere, I think that the only places that DVD can really do this is in locations where they can enroll entire units (ownership interests are percentages of units) into the trust, so that no unit is partially trust owned and partially deeded. I don't think a "unit" could be both.

 

[Sandisw]

I still don't understand the trust. So properties in the "trust" will have 11 month booking at all the properties it includes - and competes with those who only own the individual resort? What happens to properties that existed before the trust - is there some conversion of points that will happen to be included in the trust?

And if all of the cabins are in the trust, then they don't have any home resort?

Because the only resort right now is CFW, I am not sure that is how it will end up. Other trusts do, but given the way that they have applied the resale restrictions, I know wonder if this won’t operate with home resort priority being the same for all resorts that enter the trust…