What's the status of development at Fairway Villas?

When I purchased at MFV, 5 years ago, I was told that there would be 6 (maybe 7, can't remember) buildings of villas. There are currently 4 buildings. So in 5 years, they have built an additional 2 buildings.

I have read other threads on TUG saying that the sales at MFV were not as successful as Marriott expected. Does this mean that Marriott is going to stick with the 4 buildings and wait to see if they can sell more, which would require an additional building?

Anyone know about this? I'll be going on Aug. 18 and I am planning on asking this question during the owners breakfast on Tuesday. I just want to get some ideas, as I'll probably be talking with a sales type.

I am also an owner at MFV and would like to know when the remaining buildings will be built, if ever. The land for building six was cleared simultaneously with five, but they never broke ground for construction. I do know that Marriott recently released additional Platinum weeks for sale. Friends had been told Platinum was "sold out", but now were offered Platinum. Perhaps they are pre-selling weeks for the remaining buildings?

What impact do you think it will have if they don't completely build-out the development? Will we have higher maintenance fees since it's split among less owners?

Let me know what you find out.

Thanks,

Maria

Fairway Villas

Just my guess, but FV is really hot in June, July, August, and maybe weekends in September. It offers a great way to get almost all the benefits of the Jersey Shore, with a pool and better accomodations than a rented house, as the trade off for the drive to the beach.

After that, there might be a lot of activity, but how much demand is there for a February timeshare in FV?

Marriott needs to develop more tradeshow business and cut a deal with the Owners Association to use the yet-to-be built buildings as a hotel.

John Cerra said:

...how much demand is there for a February timeshare in FV? ...

Click to expand...

I'm guessing that the proximity to the casinos is probably the largest selling point for Gold weeks at FV. But I know what you mean.

I wonder what the occupancy is at the Seaview Hotel during the non-summer months.

Update

I'm currently at MFV and I went to talk with a sales rep today. I was told that the reason development had been stopped at MFV is because a large real estate developer had offered a very large sum of money to buy out the remaining property that is not currently built. She said she thought it was Toll Brothers. They had a contract with Marriott to purchase the land as long as all of the zoning and permits came through. She then said that the contract just ended without the purchase going through. However, at this time, it is not known if Marriott will build another building, or try to get back into the "wait and see" phase if the developer will buy the land.

Again, this came from a sales rep. But, she also said that they are almost 100% sold out for the current villas. There are currently 5 buildings (150 2br villas).