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LaHaina votes to not rebuild - Fort Myers

Joined
Jan 3, 2019
Messages
101
Reaction score
36
Points
89
Resorts Owned
vacation village parkway and links golf and raquet
Well, it was expected but, the owners of Lahaina voted overwhelmingly to not rebuild. A very conservative estimate to rebuild was placed at $35,000,000 which was about $20,000 per interval. I think the cost would have been higher when you take into account the expected need to build to Miami standards. There is an insurance claim for about $5,000,000 and the value of the land is estimated between 25kk and 35kk so each owner should get a check for about $15,000 when all is said and done. I would have loved to rebuld but, the vote was 95% in favor of not rebuilding.
 

rickandcindy23

TUG Review Crew: Elite
TUG Member
Joined
Jun 6, 2005
Messages
31,901
Reaction score
9,003
Points
1,049
Location
The Centennial State
Resorts Owned
Wyndham Founder; Disney OKW & SSR; Marriott's Willow Ridge,Shadow Ridge,Grand Chateau;Val Chatelle; Hono Koa OF (3); SBR(LOTS), SDO a few; Grand Palms; WKORV-OF (2),Westin Desert Willow.
Not a bad payoff for owners, but it's such a great place and great location.
 

Sugarcubesea

TUG Review Crew
TUG Member
Joined
Mar 9, 2014
Messages
4,029
Reaction score
2,941
Points
449
Location
Novi, Michigan
Resorts Owned
QH, HBC, VBHC, & Pinestead Reef
Well, it was expected but, the owners of Lahaina voted overwhelmingly to not rebuild. A very conservative estimate to rebuild was placed at $35,000,000 which was about $20,000 per interval. I think the cost would have been higher when you take into account the expected need to build to Miami standards. There is an insurance claim for about $5,000,000 and the value of the land is estimated between 25kk and 35kk so each owner should get a check for about $15,000 when all is said and done. I would have loved to rebuld but, the vote was 95% in favor of not rebuilding.
That is so sad. I own 2 weeks at VBHC in Naples and I will be very interested to hear what the board has to say to us at the Town Hall Meeting on December 15. Each week they push the date out a week or two as to when they think VBHC will reopen.
 
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