Kingdom Tower DVC at the Contemporary (Orlando Sentinel 2/26/08)

[TheDISneyFamily]

The Maximum Reallocation Point Chart that was filed with the othe public documents list studios as one of the available unit types.

Here is the document from the DVCnews.com post:

http://www.dvcnews.com/PDFs/KingdomTower/CR_BVTC.pdf

The Point Chart is on page 15 of 69 of the PDF document.

Thanks for the link! I was just looking through and on page 36...

Did anyone notice the end date for Kingdom Tower is January 31, 2060?!

and on page 37, it states that the leasehold condominium will begin FALL 2009

I'm looking forward to seeing the final documents. These are obviously still in revision...

 

[drusba]

I would assume that operating budget for 2009 which results in $3.67 per point reflects that they likely will not open until latter part of 2009 and thus that operating budget does not reflect total operating costs or per point amount for an entire year.

 

[WendyinNC]

Did anyone notice the end date for Kingdom Tower is January 31, 2060?!

I noticed this and it made me think that they won't sell points until 2010.

 

[WolfpackFan]

I have to say I'm really excited about the Kingdom Towers (even though I don't like the name). MK is not my favorite park, but Epcot is and easy access to the monorail is a big plus. And I've always liked the CR resort. Unfortunately we have bought all the add-ons we can do. If I was 10 years younger though, I would be buying an add-on there for sure. I just hope that demand is not so high that you can't get a ressie at 7 months.

PS - Just a side note. A good friend of mine was part of the construction team that built the original CR resort. Everytime we go down to WDW he asks me if his resort is still there (he is 79 years old). When I told him they were building a new tower there, he was very excited.

 

[White_Sox_Fan]

I would assume that operating budget for 2009 which results in $3.67 per point reflects that they likely will not open until latter part of 2009 and thus that operating budget does not reflect total operating costs or per point amount for an entire year.

I don't think so it stated that "The estimated Annual Dues for the year January 1, 2009 through December 31. 2009 are $3.6709 per Vacation Point,".

Did anyone catch the part that stated "For example, if the Ownership lnterest is represented by 230 Vacation Points, the estimated Annual Dues would be $844.31."

Should we consider the 230 point mention significant. Does that mean that they feel you need to buy 230 points to get a weeks vacation at KTV as opposed to the 160 points they are selling for SSR & AKV?

 

[robinb]

Should we consider the 230 point mention significant. Does that mean that they feel you need to buy 230 points to get a weeks vacation at KTV as opposed to the 160 points they are selling for SSR & AKV?

It could for new purchases. 230 used to be one of the minimum purchase points many years ago.

 

[tvwalsh]

Imagine using KTV points (after I have stayed at KTV, of course!) with their low member fees, to add on those Saturdays and/or Sundays to an OKW GV reservation at the seven month window. One end, of the five day ressie, or the other is likely to be available.

Sounds like a plan!

 

[drusba]

I don't think so it stated that "The estimated Annual Dues for the year January 1, 2009 through December 31. 2009 are $3.6709 per Vacation Point,".

Did anyone catch the part that stated "For example, if the Ownership lnterest is represented by 230 Vacation Points, the estimated Annual Dues would be $844.31."

Should we consider the 230 point mention significant. Does that mean that they feel you need to buy 230 points to get a weeks vacation at KTV as opposed to the 160 points they are selling for SSR & AKV?

The issue on that estimated budget is not that it is stated for a full year but that the total dollar amount for the operating budget for the year may be low because the amounts Disney is estimating reflect that for much of the year little will be spent because it is not open, e.g., the amount estimated for housekeeping for the entire year may really be a total amount that will only be spent in the last half of 2009 and thus does not reflect what the possible total housekeeping cost may be may be in 2010 when the resort is open all year.


I don't think the 230 per point is significant because I believe that is what it usually uses in disclosure documents for any resort to provide the information on dues for the year (and I think it is a carry over from the minimum number of points one had to purchase when OKW first opened).

 

[tjkraz]

I would assume that operating budget for 2009 which results in $3.67 per point reflects that they likely will not open until latter part of 2009 and thus that operating budget does not reflect total operating costs or per point amount for an entire year.

The partial year shouldn't really impact the dues. If members are only occupying the building for 4 or 5 months, they will only pay operating costs for 4 or 5 months.

SSR opened in May and AKV in July and their first year dues were right in line with subsequent years.

As I said in a prior post, I believe it has to do with the higher points schedule we will see. Higher per-night point requirements means more points in circulation. More points in circulation means each point bears a smaller share of the burden.

 

[Dumbo]

Did anybody read through the 69 pages of the pdf document and see what the total number of villas is once the whole resort is completed? I couldn't find it.

 

[aprince&princess]

On page 5 it shows the total number of units for all of the DVC's, but Kingdom Towers reads "0"

 

[wildernessDad]

I noticed this and it made me think that they won't sell points until 2010.

Maybe not. Maybe they will start selling points in 2009 for stays in 2010.

We purchased AKV in February and couldn't stay there until September.

 

[keishashadow]

Anyone know if this is standard verbage in the contracts?

(hoping there won't be a min. buyin to equal 1 week , was hoping for an addon with banking & borrowing?)

The Vacation Ownership Plan uses a flexible Vacation Point system. Under the Vacation Point System, the Ownership Interest purchased by an individual will vary from that purchased bv another individual depending upon his or her respective vacation needs. Therefore, it is impossible to anticipate the exact number of undivided Ownership interests that will be sold in each unit; however, it is anticipated that individuals will generally purchase an Ownership Interest equal to the right to reserve seven (7) Use Days. In all events, DVD will not sell a number of Ownership interests that would result in a greater than "one-to-one use night to use night ratio as defined in Section 721.05(25) Florida Statutes
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[aprince&princess]

Maybe the minimum for a new DVC purchase, not as an add-on?

 

[keishashadow]

Pg 40, appears as though "Crescent" Resort was original name in documents (BCV or BW revised docs)?

Pg 41, item Section f, #2, anyone else inferring that maintenance costs of monorail WON"T be reflected in annual dues

Pg 43, DVD agrees to subsidize the 2009 Estimated Annual Operating budget in the amount of $________ per vacation point & more on page...is this standard on new projects?

Pg 45, No Owner may directly rent, exchange or otherwise use his or her Ownership lnterest without making a prior reservation of an available Vacation Home at the Kingdom Tower Resort on a first come, first served basis. DVD's approval of a rental bv an Owner is not reouired after a reservation has been made in the renters own name...is this new policy?

appears as though the AKV documents were used as a draft also

 

[castleri]

Did anybody read through the 69 pages of the pdf document and see what the total number of villas is once the whole resort is completed? I couldn't find it.

Me either -

What I did find interesting is that part of the dues will be to maintain the pools, beaches and boat docks at the CR. It also sounded like there will be use of pool, beach etc facilities at both the CR and KTV allowed for people staying at either resort. I may have read that part wrong but that is what I thought it said. There is also a specific statement that the monorail is nearby but is not part of the condominium association. I would think that means dues will not be used towards maintenance of said monorail system. It also gives the disclaimer that people should not by based on the continuing availability of the CR resort facilities(restaurants, pools, monorail etc.). Guess that just covers them in case they should ever cease operations of those things. It did say the walkway between the buildings in the responsibility of the condominium association and that upkeep, maintenance and repair of it will be included in dues.

 

[drusba]

Anyone know if this is standard verbage in the contracts?

(hoping there won't be a min. buyin to equal 1 week , was hoping for an addon with banking & borrowing?)

The Vacation Ownership Plan uses a flexible Vacation Point system. Under the Vacation Point System, the Ownership Interest purchased by an individual will vary from that purchased bv another individual depending upon his or her respective vacation needs. Therefore, it is impossible to anticipate the exact number of undivided Ownership interests that will be sold in each unit; however, it is anticipated that individuals will generally purchase an Ownership Interest equal to the right to reserve seven (7) Use Days. In all events, DVD will not sell a number of Ownership interests that would result in a greater than "one-to-one use night to use night ratio as defined in Section 721.05(25) Florida Statutes
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That is in the disclosure documents for all of the resorts.

 

[White_Sox_Fan]

The partial year shouldn't really impact the dues. If members are only occupying the building for 4 or 5 months, they will only pay operating costs for 4 or 5 months.

SSR opened in May and AKV in July and their first year dues were right in line with subsequent years.

As I said in a prior post, I believe it has to do with the higher points schedule we will see. Higher per-night point requirements means more points in circulation. More points in circulation means each point bears a smaller share of the burden.

I agree the lower pp dues are a function of the high point chart. Looking at the Reallocation chart and using the row for reserving a 1BR for the week it shows that it would take 21% more points that SSR . Using these percentages and the current dues as a guide you get.

KTR Dues adjusted vs. SSR $3.67 * 1.21 = $4.44 (SSR dues are $4.21)

So it will probably be pretty much a wash with the other resorts (sorry I'm not taking the time to go thru them all right now) if you figure what it will cost for X amount of days stay at KTR vs the other resorts.

 

[keishashadow]

That is in the disclosure documents for all of the resorts.

thank you!

 

[Dumbo]

I read in the documents that the pedestrion bridge will be on the 5th. floor of Kingdom Tower. Does that mean it will connect to the floor where the monorail station is?