Streamside at Vail: Aspen AND Cedar defect

Interesting news that both buildings have defected effective May 1st. While it cleans the Marriott portfolio up quite a bit, one has to wonder whether or not the two associations will keep the neighborhood up.

EducatedConsumer said:

Interesting news that both buildings have defected effective May 1st. While it cleans the Marriott portfolio up quite a bit, one has to wonder whether or not the two associations will keep the neighborhood up.

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Where did you hear Cedar defected? I'm a Cedar owner and several months ago recevied an update that the contract with Marriott had been renewed for another 5 years (along with the special assessment billing to go with it!)

Streamside staff.

Itys

In another thread, I guessed that Cedar could go, since Marriott needs only three of the buildings to maintain their contract. This is good news for Birch, because they have been quick to jump whenever it was suggested.

As far as keeping the neighborhood up goes, does anyone think the best clubhouse in the Vail valley will be offering clubhouse services for long? The Marriott Seven-11 and a beauty shop can't be far away. Everyone needs to know that the clubhouse was constructed, operating, and purchased back from the bank, long before Marriott grabbed the ONLY buildable pad left in the Vail valley.

Unfortunately, what Marriott built does not even live up to their own standards, or at least, not up to the standards of "real" Marriott owners. (Read the reviews!)

Birch is critical to Marriott, so they will be treated with special care for five years. Cedar has made no indication that they are not on board, so it seems like a safe assumption to me that Marriott has not only decided that Cedar can go (virtually a no-brainer) but filled their staff in, as well.

This is the best resolution for all involved.

Evergreen, Douglas and Birch owners will see their property values rise now that the uncertainty over Streamside's future is essentially settled. Aspen and Cedar owners won't have to pay Marriott MFs or upgrade their buildings to Marriott standards and will have a decent new manager in VRI.

The entire property will benefit from a totally overhauled clubhouse and, the way the HPUD documents are written, all five buildings will continue to share costs for the clubhouse, shuttle, grounds, etc. All five buildings will also have to pay for the clubhouse renovation to Marriott standards, because the HPUD board will vote 3-2 for it.

I do feel bad for folks who recently bought at either Aspen or Cedar and thought they were getting a Marriott. Obviously here at TUG everybody knew what was going on, but there are a lot of people out there who weren't that educated on the issue.

If you're just interested in skiing Vail, I expect you'll be able to pick up Aspen and Cedar properties for a song in the near future. There's an early season Aspen ski week on eBay right now for $99. You'll get low initial purchase costs and low annual fees, plus a Marriott-level clubhouse.

Meanwhile I've noticed prices creeping up on the other Marriott buildings, with an Evergreen mud week recently going for $3,500 on eBay (you used to be able to pick up those weeks for $300-700 on eBay). That's good news for the buildings sticking with Marriott.

As I said, win-win for everybody.

I am writing this from a Cedar 1 bedroom unit right now, for which we traded our Birch summer studio in the 60-day window. It is far nicer than our Birch studio, and the most spacious unit we have ever been to at Streamside. It seems to have been updated much more than the Aspen unit we traded into last spring. It has a lot of light and a nice view. The kitchen doesn't have the granite counters which the Birch units were outfitted with. I guess you could say the kitchen is a little dated, but it's nice. The main drawback to Cedar is that it doesn't have an elevator.

For what it's worth, a girl at the front desk told us that it's still undecided whether Cedar will stay with Marriott, and that the decision will be made by May 1st. She seemed to infer that Cedar might not be staying with Marriott, and said it will be good that all 3 buildings left in the Marriott resort will have an elevator. I can't believe it wouldn't be worth it for the Cedar owners to stay with Marriott by paying a reasonable assessment to put in an elevator. But I'm sure proposedd Marriott assessments to Cedar are higher than many owners would like.

SallyMagoo said:

I can't believe it wouldn't be worth it for the Cedar owners to stay with Marriott by paying a reasonable assessment to put in an elevator. But I'm sure proposedd Marriott assessments to Cedar are higher than many owners would like.

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Maybe the owners there don't consider it worth paying for. I would never consider an elevator as being essential--convenient, perhaps, but essential, no. Just my opinion, though.

Today, on streettalkblog.com, They said that both cedars and aspen are going with VRI. Has anyone gotten confirmation from Streamside yet?

Bill4728 said:

Today, on streettalkblog.com, They said that both cedars and aspen are going with VRI. Has anyone gotten confirmation from Streamside yet?

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The Aspen Board announced in the owners' newsletter that they are going with VRI.