Could this statement mean more VGC?

[nunzia]

I am dorky enough to read my VGC Public Offering Statement and on page 24, under the sectioon Phasing and Completion of Construction there are two areas that relate to this. ...DVD further reserves the right (but shall have no obligation) to convert (and sub-divide or combine) Hotel Units into Vacation Ownership Units...
And further down under the paragraph that starts with...DVD also specifically reserves the right to ammend the Condominium Documentation without the approval of Owners as follows...(iii) at any time to convert and subdivide or combine Hotel Units into Vacation Ownership Units...

It would be nice if this comes about! The more units the better shot at booking one..hopefully...

 

[Disney_Villain]

From what I've heard (via DVC staff), the VGC was intended as a pilot project - being the first Disneyland DVC resort. Depending on how well sales went, there may be future expansion of VGC.

I wasn't sure how they would expand the VGC, but the offering statement has just given us a clue.

I also heard that a dedicated DVC resort could go into the Garden Walk area later - although there is nothing more than rumor on this right now.

 

[karrit2000]

Since the initial "unofficial" plan for DVC units at GC when the hotel was first built were for an expansion to be added on to the hotel for DVC I'm not surprised at the contract wording. I was very surprised when I heard that the expansion would include hotel rooms and not be just DVC units. I guess they weren't really sure that there would be great interest in purchasing DVC at GC. Since I have been asking about DVC in CA since I first purchased I'm glad it's finally here but not happy that it took so long to happen. I would have prefererred a lower buy in than the current price but have been firm in not doing any add-ons other than BWV 9 years ago. I certainly hope that they do add more units because with the small # of units available I know the 11 month window will be crucial for booking. I'm just waiting for my guide to return to FL to start the process rolling on my paperwork. I expect to be hearing from her friday if not sooner. I really want to be able to remove that "future owner" tag from my signature.

 

[SoCalKDG]

Converting 50 rooms out of 200 to DVC units would be great. That would increase the size by about 40%, giving 50 hotel rooms, 25 two bedrooms, 25 1 bedrooms and 25 studios(based on 25 2 bedroom lockoffs), making it easier for all DVC members to get a room. Set them at 2 points less then the studios (supposedly many are on the 2nd floor and wouldn't have as good a view).

 

[been2marceline]

It makes perfect sense, I was informed by an insider years ago that when the GC was designed a good portion of the two upper floors were built, and the basic infrastructure installed, to allow the changeover, that's one of the reasons I waited until the incentives were AWESOME to buy in, if they need to they'll convert some more hotel into DVC.

 

[nunzia]

It makes perfect sense, I was informed by an insider years ago that when the GC was designed a good portion of the two upper floors were built, and the basic infrastructure installed, to allow the changeover, that's one of the reasons I waited until the incentives were AWESOME to buy in, if they need to they'll convert some more hotel into DVC.

The new incentives are pretty appealing..But since I got developer points and used them for a room that would cost $2,145, even the extra off per point wouldn't match that, so I am still very happy I bought when I did and got what I got (plus the idea of having to re-sign all those papers is just too much)

 

[tjkraz]

I haven't read much of the POS (man, this is a THICK one!) but DVC may have some ownership stake in the entire expansion wing including the 200 cash room. Note how the budget is laid-out to include the 200 hotel rooms on page 135.

I wouldn't be one bit surprised if the new construction is laid-out to allow for easier conversion from cash rooms to villas. For instance, they may have run the plumbing and sewage lines necessary for kitchens/kitchenettes and simply capped them off in the walls. DVC had to do a lot of jerry-rigging for the villa conversions at AKV Jambo, but I doubt that is the case for VGC.

Hard telling when/if the conversions would ever happen, though. Cash rooms are far more profitable than DVC in the long run so as long as the GC can keep filling its 1000+ rooms, there's no financial reason to bring in DVC. But if they were to open a 4th resort (Deluxe) or refurbish (rebuild) the Disneyland Hotel to the point that it is of similar quality, perhaps the GC would be willing to release a few more villas to DVC.