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Mammoth Lakes Development?

clsmit

clsmit

TUG Review Crew
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Location
Solon, OH (for love not the weather)
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WSJ, HRA, WKORV, WMH, SBP, WLR
Anyone heard of Starwood wanting to develop a timeshare property in Mammoth Lakes, CA? From these planning docs it looks like they are proposing a "condominium hotel" with 308 or 328 units (the number varies depending on which version of the documents I look at, but they are all about this number).

http://mammothlakesvillage.com/blog/?p=666
http://www.ci.mammoth-lakes.ca.us/Planning Commission/planning commission.htm

I understand there's a Westin hotel already in the area; it makes sense that they'd want to put a TS there. Any ideas, all you California people out there?
 
It's more than just a Westin Hotel there...they've been selling condos at the "Westin Monache" development for a while now. As I understand it though, the developmetn in floundering. Now that it's built, many pre-sale contracts have been foreclosed on...people giving up deposits rather than completing the purchase. There is quite a bit of re-sale inventory and Starwood has plenty of developer units left to sell.

Wonder if they're looking to build new units or convert some to TS?

http://www.westinmammoth.com/buyers/floorplans.html

I'll add a side note. Looked briefly at your links and wanted to note in general that many have been applying for re-zoning or zoning variances in the area as they bought land and developed plans pre-housing crash. With that in mind everyone wants a reduction in set-backs and height restrictions to try and squeeze more $$$ out of the land they have by adding units.
 
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Really? I guess I shouldn't be surprised, but they initially "sold out" in four hours... ;)

Anyway, the Westin Monache is the Westin Hotel, one and the same. I drove by it last winter and it looks great.

Last I heard, Mammoth was still too small for a timeshare, but of course I disagree with that. There are one or two fractionals (80|50). And, the airport is finally open for commercial traffic - Horizon will be flying daily from LAX in the winter.

I'd love to buy a unit at the Monache... hmm... I missed my chance years ago to buy a preconstruction condo in The Village directly next to the new gondola and have Mammoth rent it back for two years... it's such a great location.
 
ocdb8r said:
many pre-sale contracts have been foreclosed on...people giving up deposits rather than completing the purchase.
Click to expand...

FYI, there are no foreclosures in this building at this time (just checked). But, it does make sense that some walked away from their deposit rather than complete the purchase.
 
We vacation every June near Mammoth Lakes in Lee Vining (itty bitty town on 395 at the Highway that leads to Tioga Pass). I love the Mammoth Lakes area and would be very excited if they built a timeshare property. I don't think it's too small at all. There is so much to do from this spot on the eastern sierras. I could write a nice list of day trips to do from this location in summer and in winter of course there is the fantastic skiing. Shoulder season there is always hunting and the ability to still enjoy quite a few day trips.

Please keep us posted on this!

Janna
 
A side note about Mammoth,

When we went through there in June we looked at some real estate prices and people are asking way too much money for properties up there. These people are dreaming in a difficult market like today. They must think they are sitting on a gold mine. It's as if they don't think the down turn in the market affects them.
 
applegirl said:
A side note about Mammoth,

When we went through there in June we looked at some real estate prices and people are asking way too much money for properties up there. These people are dreaming in a difficult market like today. They must think they are sitting on a gold mine. It's as if they don't think the down turn in the market affects them.
Click to expand...

Wait til after an earthquake and see what happens to the prices.
 
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