New Poly Tower

[CarolMN]

What I don’t understand is why anyone is buying Poly resale right now without knowing whether Poly2 will be in the same association.

Not sure it really makes a difference If it turns out to be the same, you get access to the new rooms, if not, you have the same product you buy today, plus access to the added amenities.

 

[alohatok1986]

I took a tour of the Poly with a DVC guide yesterday, and I asked them about the new tower. The guide told me that they have only applied for the permits, and they do not truly know the composition of the resort, in terms of different room sizes, yet. Do anyone know if this guide is correct?

You can't apply for permits without every last outlet & ceiling light accounted for, let alone room count & sizes. So plenty of people at Disney know, just no one that is going to tell us yet, haha. I'm in permitting. I'll try to see what I can find in public records.

 

[john7994]

What is absolutely certain, and I have on good authority, no matter what DVC decides as the final outcome, everyone will have something to like or complain about So there's that to look forward too!

 

[Paul Stupin]

Not sure it really makes a difference If it turns out to be the same, you get access to the new rooms, if not, you have the same product you buy today, plus access to the added amenities.

True. But if it’s not the same, and you’re a new buyer who recently acquired Poly resale but was unaware of the new tower, you’ll watch this cool new building pop up at your resort and come to realize it’s not possible for you to book. And down the line when you try to sell there aren’t as many buyers for your contract because at least some percentage of them want the new tower, so you sell for a lower price because there’s less demand.

Or maybe not! But one way or another there is now uncertainty surrounding what you will or won’t be able to book with your Poly points, which for me would be reason enough to hold off on buying resale until there’s clarity. Uncertainty is never a good thing in a real estate contract. Whether or not Poly2 will be in the same association as Poly1 will matter to some buyers, and there’s no way to be sure that the answer won’t at some point exert downward pressure on the price of Poly resale.

 

[DVCsloth]

Looks like it's going to be an awesome resort. Seems more likely to be a separate association especially if they plan to add 1br and larger rooms.

 

[BamaGuy44]

What is absolutely certain, and I have on good authority, no matter what DVC decides as the final outcome, everyone will have something to like or complain about So there's that to look forward too!

That's the problem. We can't properly complain and argue about it until we get more details. We at least get to argue about what we predict will happen, so there's that

 

[Paul Stupin]

That's the problem. We can't properly complain and argue about it until we get more details. We at least get to argue about what we predict will happen, so there's that

Exactly! And when what we predict doesn’t happen, we can move on to other arguments while never referencing again our incorrect former predictions.

 

[BamaGuy44]

Exactly! And when what we predict doesn’t happen, we can move on to other arguments while never referencing again our incorrect former predictions.

This is the way.

 

[crushturtle]

I best Poly2 will be outstanding. There is so much room out there for expansion. Sure will make the monorail more crowded.

 

[DVCsloth]

I best Poly2 will be outstanding. There is so much room out there for expansion. Sure will make the monorail more crowded.

True, monorail is packed by the time it reaches GF. Really looking forward to our first visit back to VGF since the walkway has opened. We will be walking back from MK after park closing, that's for sure. I would consider adding on at the new resort if I didn't already own 2 MK resorts.

 

[Paul Stupin]

True, monorail is packed by the time it reaches GF. Really looking forward to our first visit back to VGF since the walkway has opened. We will be walking back from MK after park closing, that's for sure. I would consider adding on at the new resort if I didn't already own 2 MK resorts.

We own two as well, CCV and VGF. But if Poly2 is a separate association, we might still add on. It looks really nice.

 

[Flynn's Gal]

True. But if it’s not the same, and you’re a new buyer who recently acquired Poly resale but was unaware of the new tower, you’ll watch this cool new building pop up at your resort and come to realize it’s not possible for you to book. And down the line when you try to sell there aren’t as many buyers for your contract because at least some percentage of them want the new tower, so you sell for a lower price because there’s less demand.

I think the onus is on them to do their research before buying a Poly resale (or any contract for that matter). If a buyer ends up in the situation you described, they should have read up on what's going on with DVC and carefully considered their options before making the decision to buy at Poly. They only have themselves to blame.

 

[Paul Stupin]

I think the onus is on them to do their research before buying a Poly resale (or any contract for that matter). If a buyer ends up in the situation you described, they should have read up on what's going on with DVC and carefully considered their options before making the decision to buy at Poly. They only have themselves to blame.

True. But at least I understand a new buyer who knows nothing about the product, and doesn’t know enough to realize that there’s anything more to know, getting caught up in the excitement while on a WDW trip and buying a Poly contract, unaware that there’s even a resale market, let alone new construction plans.

What I don’t understand are buyers who actually are familiar with the resale market and Poly2, who are buying Poly resale contracts anyway. Even if they have zero interest in the new tower and only plan on staying in Poly1 studios forever, Poly2 has the potential to decrease the amount of Poly1 resale buyers if it’s a different association...and fewer buyers could mean a lower resale price in a few years. Personally, I’d rather buy a resale contract whose long term value has a greater chance of going up than going down.

I guess you could argue that even if Poly2 is a separate association the ability to use its amenities could help Poly1 value. But, then, initial Poly2 sales incentives could be, like VGF2, very competitive, especially since it will potentially have one, two and three bedrooms. So who would want Poly1 if you could buy Poly2 direct for only a little more?

 

[dvc lover 1970]

I wonder if loosing reedy creek for now will impact projected development of the new poly tower. They may have added layers of red tape to get through.

 

[Sandisw]

I wonder if loosing reedy creek for now will impact projected development of the new poly tower. They may have added layers of red tape to get through.

It is possible, but this law doesn’t take effect until June 2023…they may be able to move it along to a point it won’t be a huge issue?

Or, by then, things are worked out with a new special district applied for and approved.

 

[DVCsloth]

I would consider buying Poly2 only if it is a separate association. I don't want to compete for 1br's with all of the Studio and Bungalow points at the current resort.
May even consider selling my VGF contract if VGF2 makes it difficult for me to book a 1br.

 

[Paul Stupin]

It is possible, but this law doesn’t take effect until June 2023…they may be able to move it along to a point it won’t be a huge issue?

Or, by then, things are worked out with a new special district applied for and approved.

I think that when all of this settles down, Disney will either figure out a way to keep Reedy Creek alive, in one form or another, or turn the situation to their advantage. Its going to be a huge pain for both Orange County and Orlando as well, and I don’t think either of them support the change.
A new, more savvy Disney CEO will also help smooth things over.

 

[DebbieB]

I may consider it if it’s the same association and no resale restrictions. If it’s separate with resale restrictions, no. I’m 62, so I will have to sell at some point, don’t want to sell at a loss. I just stayed at Riviera for the first time, loved it but will not buy for the same reason.

 

[paslaugh]

True. But at least I understand a new buyer who knows nothing about the product, and doesn’t know enough to realize that there’s anything more to know, getting caught up in the excitement while on a WDW trip and buying a Poly contract, unaware that there’s even a resale market, let alone new construction plans.

What I don’t understand are buyers who actually are familiar with the resale market and Poly2, who are buying Poly resale contracts anyway. Even if they have zero interest in the new tower and only plan on staying in Poly1 studios forever, Poly2 has the potential to decrease the amount of Poly1 resale buyers if it’s a different association...and fewer buyers could mean a lower resale price in a few years. Personally, I’d rather buy a resale contract whose long term value has a greater chance of going up than going down.

I guess you could argue that even if Poly2 is a separate association the ability to use its amenities could help Poly1 value. But, then, initial Poly2 sales incentives could be, like VGF2, very competitive, especially since it will potentially have one, two and three bedrooms. So who would want Poly1 if you could buy Poly2 direct for only a little more?

If Poly 2 is a separate association it will almost be guaranteed to have resale restrictions which may very likely make Poly 1 more desirable overall even if a resale buyer can’t stay at the new tower. Poly 2 sales incentives will only be short term in nature, the minute it sells out, Poly 1 resale might be the best bargain. Also Poly 1 value might be insulated by the fact that longer dated rentals there sell at a premium since a lot of renter are just looking for a studio.

 

[CaptainAmerica]

If Poly 2 is a separate association it will almost be guaranteed to have resale restrictions...

I think "almost guaranteed" is a stretch. There are credible rumors that Disney might not be pleased with resale restrictions because they've spooked people off of buying Riviera. It's plausible that they might abandon the restrictions entirely, including at DLT and Riviera itself.

I still think you're most likely correct, but "almost guaranteed" is too strong IMO.