Oceana Palms, hows construction going ?

[JBRES1]

In light of the slowing economy, will construction keep moving forward at the resort ?
Anybody down at Ocean Pointe taken a drive by the resort in the past few days?

Thanks, Jim Breslin

 

[jimf41]

Going down Nov 6. I'll send some pics.

 

[jerseyfinn]

This link shows how Oceana Palms looks as of August 2008. Hopefully Jimf41 can get some snaps which give the full profile.

After reading the recent TUG blurbs on KoOlina, I contacted our rep at the resort last Friday. He tells me that construction moves forward and that the first building is being capped off as we speak. Oceana Palms remains ahead of it's projected building schedule, and is also under budget at this point. January 2010 is first occupancy, and they are defintely on schedule to meet that date as of the moment.

In the case of Oceana Palms, financing issues have not yet affected Marriott enough to alter deadlines. Just a guess on my part, but perhaps the financing for this particular resort did not flow through Lehman or other more toxic finance sources.

This is not to say that sales at this or any MVC resort are anything close to normal at the moment. But it appears that Oceana Palms still has wind in its sails for an on-time opening. However, I would not be at all surprised if things are put on hold for the second scheduled building as in this economy, I do not see any prospect of change and Marriott like all businesses will have to ride this one out before moving forward.

Barry

 

[714]

In light of the slowing economy, will construction keep moving forward at the resort ?
Anybody down at Ocean Pointe taken a drive by the resort in the past few days?

Thanks, Jim Breslin

We are going down Oct. 26 & will send an update and some pics also.