Although there is still a considerable number of owners who are trying to get out of their timeshares this year, the economy is already showing signs of recovery. With this, some developers are expanding their timeshare operations. One of these is the Aspen Club which recently featured its owner Michael Fox in front of the City Council this week seeking approval to build 20 timeshare condos and expand the facility into a 55,000-square-foot healthy living retreat.
However, as the project advances, supporters and opponents are becoming more vocal about whether the community will benefit from such facility and if it’s appropriate in a neighborhood zoned rural residential. Such arguments will be considered by four council members during a public hearing on the project.
Meanwhile, based on public comment from individuals during previous hearings, it appears that support for the project outweighs the opposition. As such, critics are beginning to rally through letters to the local newspapers. They’ve even hired an attorney and a PR firm to help further their cause to squash the project.
On the other hand, the private club is seeking to subdivide the property between Ute Avenue and Highway 82 to accommodate 14 townhomes and six condos, as well as 12 affordable housing units. The council has been reviewing the said project for more than a year and gave it conceptual approval last summer. Then in last February, the council told Fox that he must give the community assurances that the health club will remain accessible and affordable to local residents if the project is approved. The council also wants to ensure that the public benefits attached to the project will be secured in a completion bond, if ever that financing vanishes and the development project is abandoned.
The period of economic downturn may appear to be vanishing this year but we should take also that there is still a number of owners who want to get rid of their timeshares. But despite this, some developers are en their efforts to expand their timeshare business like the Aspen Club which recently face community issues with their proposal.