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Peppertree Atlantic Beach I bankruptcy

allsmiles277

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Well it has happened just as I predicted Buildings 1-14 will be demolished by October this year. I understand that the next Buildings to be inspected will be 15-25. Since Buildings 10-14 look just like Buildings 15-25 there may be some more that will be on the demolish list. I wonder if Festiva Resorts has shared this information with owners other than Section I of Peppertree Atlantic Beach NC. I know more information that I cannot share on this forum. I think Peppertree Atlantic Beach, NC may be non existent in the near future. I think Buildings 26-33 may be okay. That resort will be a ghost town in the future. I hate to see it go but maybe somebody will come in and make it even better. Good Bye Peppertree.....it was nice knowing you for all these years !!!!
 

allsmiles277

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Buildings 15-25 Peppertree Atlantic Beach NC decks and walkways condemned !!!!!

Well.....surprise surprise.....Peppertree Atlantic Beach, NC has had the walkways and decks for Buildings 15-25 condemned by local Inspection's Office. Somehow this does not surprise me. I emailed the Asheville, NC Office and they said they did not have any information. I understand people are being told to ignore the condemnation signs. I have no idea if this is true. I do think Peppertree is going down like the Titanic !!! I hate to see this because it is a pretty nice complex and the people are very nice. If somebody is injured by ignoring the safety issues Festiva had better be ready for a BIG lawsuit. I hope they fix the issues that need addressing but that place cannot be safe if the Building Inspections Dept has condemned the walkways and decks for Buildings 15-25.
 

allsmiles277

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Hearing about condemnation at Peppertree Atlantic Beach in a few days !!!

I heard that there is a hearing in the next few days about the condemnation of the decks and walkways at Peppertree Atlantic Beach NC Buildings 15-25. I also heard the power may be cut to that complex and I assume that is the condemned units which now includes 1-25. How in the world could this happen if the management company was doing their job as well as the Boards that make decisions at this complex. I have lost all faith in Festiva and the Boards for the 3 different sections of Peppertree Atlantic beach NC. I am sure there are going to be all kinds of lawsuits about all this mess. I think Bankruptcy may actually happen now for Buildings 15-25. I was hoping they would fix the decks and walkways and try to keep this complex open but I am having doubts now. Any management company that is willing to endanger people's lives by letting them stay in Buildings with condemned decks and walkways is not a management company I want a a timeshare complex. Festiva is setting a bad precedent for themselves. I hope they reap what they sow.
 

Egret1986

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Thank you for posting this information. I have rented my week 32 in Building 17.

I heard that there is a hearing in the next few days about the condemnation of the decks and walkways at Peppertree Atlantic Beach NC Buildings 15-25. I also heard the power may be cut to that complex and I assume that is the condemned units which now includes 1-25. How in the world could this happen if the management company was doing their job as well as the Boards that make decisions at this complex. I have lost all faith in Festiva and the Boards for the 3 different sections of Peppertree Atlantic beach NC. I am sure there are going to be all kinds of lawsuits about all this mess. I think Bankruptcy may actually happen now for Buildings 15-25. I was hoping they would fix the decks and walkways and try to keep this complex open but I am having doubts now. Any management company that is willing to endanger people's lives by letting them stay in Buildings with condemned decks and walkways is not a management company I want a a timeshare complex. Festiva is setting a bad precedent for themselves. I hope they reap what they sow.

There has been no notification about any of this from the resort or Festiva. I guess I need to make a call and find out what the heck is going on. This is a nightmare. My ownership was originally in Building 10. When things went south with those buildings, I was given the opportunity to walk away or switch to the same week in either Phase II or III. I opted for a Phase II unit. While I received my reservation documents for the "new" unit in Phase II, I have never received the new deed or other documents that were promised to me back in January. It is indeed a mess. This is the only Festiva property I now own. There will be no more in my future that's for sure.

I hope my guests have a usable place to stay one week from now and that their safety is not being jeopardized. :doh:
 

jimbob79

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Just spent a week at Peppertree Atlantic Beach. Buildings 15-25 have been CONDEMNED by the building inspector because of the condition of the decks only. We were still able to stay there last week since the decision too condemn is being challenged. Would not be surprised to see Buildings 1-14 (land) go up for sale along with 15-25 because of their proximity, age, and condition. Anyone want to dump theirs CHEAP?
 
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Rehdaun

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What a shame. We stayed there over 10 years ago and thought the round buildings were quite quaint. We were thinking of revisiting them in the next couple of years. Doesn't look like we need to now.
 

allsmiles277

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Peppertree AB closing Buildings 15-25 for repair on August 17th

The latest I have heard on Peppertree Atlantic Beach NC is that Buildings 15-25 will be closed on August 17th until the end of the year or the repairs on walkways and decks have been made. I am glad Festiva, the HOA,etc have finally made the right decision instead of putting people's safety in harm's way. Congratulations on first making a decision and making the correct decision. I think Buildings 10-14 also could have been saved but what do I know. This is what I have heard and I don't actually know if this is true so take it with a grain of salt.
 

burchblue

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Vacation Cancellation

This letter is in reference to the mismanagement of Peppertree Atlantic Beach Resort (PAB) by the resort itself as well as the management group Festiva/Patton Hospitality. My parents purchased a Charter Beach Club Membership at Peppertree Resort Villas in June 1987. They used the week at PAB every year until the timeshare was deeded to me in 2001. Since that time my family has utilized the exchange privilege that accompanied the membership purchase. We have had many memorable vacations as a result of staying at PAB and other RCI affiliated resorts. We were proud timeshare owners until we received notification in November 2014 of the impending condemnation of the Phase 1 buildings (where our unit is located). At no time prior to November was there any communication about any structural damage to these buildings. As timeshare owners who pay substantial maintenance fees every year, we assumed our fees were being utilized for building maintenance and had no reason to believe otherwise. In April we were given the option to transfer our deed to another unit in PAB 2. At that time, I tried to pay the 2015 maintenance fees but was told the fees could not be paid until the deed transfer was complete. The transfer fee and accompanying paperwork was mailed May 18, 2015. That check was cashed June 23, 2015. However, to this date, we have not received the new deed. Shortly after mailing the transfer fee, we were notified that PAB 1 had filed Chapter 11. I made multiple attempts to pay the 2015 maintenance fee to Festiva/Patton Hospitality Group and was told they could not take payment over the phone, that I would have to mail a check which I did June 13. That check was never posted or returned to me. On July 13, I cancelled the first check and overnighted a new check to address on an old invoice. The check was received on July 15 but still has not been posted to my account. Per the resort’s policy, I cannot bank my week for exchange until the maintenance fees are paid. Upon realizing that Festiva/Patton Hospitality Group was not going to post the payment to my account, I decided to use my new unit 18F week 37 at Peppertree this year. I was told by Festiva that payment of maintenance fees was not necessary to use the week at Peppertree but would be necessary in order to bank and exchange the week. On August 7th, I called Peppertree to confirm the reservation that they had previously notified me of by letter (week 37, Sept 11th check in date unit 18F). During that conversation, I was informed my reservation had been cancelled because the building that I was transferred to has to be closed for 3-4 months for repairs. I asked to be switched to another unit in PAB 3 for the assigned week but was told “no”. So I am left with nothing: No week to exchange, no reservation for the week promised, no place to go for the week off of work I requested. All I get for this year of hell is an apology? And to top it off, I was told there are units available in PAB 3 but I can’t get one of those for my assigned week unless I wanted to rent it. Why would I want to rent something that I already own? If this is how a business treats customers, I want no part of it. Maybe the Town of Atlantic Beach needs to shut the door on PAB and build something worth owning.
 

bogey21

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My ownership was originally in Building 10. When things went South with those buildings, I was given the opportunity to walk away or switch to the same week in either Phase II or III.

In hindsight walking away was probably the desirable option. Those who walked away could probably have bought somewhere else for $100 or less.

George
 

pedro47

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Does Diamond International Resorts owns any weeks at this resort or is DRI contacted with this resort in any fashion?
 
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Maple_Leaf

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Do you feel that DRI will purchase Peppertree-Atlantic Beach out of bankruptcy ?

Yes, I do. To my knowledge, Peppertree-Atlantic Beach is the only inventory owned by DRI in coastal North Carolina. I could see them taking over the entire property and expanding.
 

pedro47

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Yes, I do. To my knowledge, Peppertree-Atlantic Beach is the only inventory owned by DRI in coastal North Carolina. I could see them taking over the entire property and expanding.

Your last statement is not true DRI just purchased six (6) Gold Key Resorts and they are located in Nage Heads, NC (OBX) and Virginia Beach, VA. They are located on coastal North Carolina and Virginia... There is also a topics/thread on this very subject posted on TUBS BBS on 8/17/2015.

The Title is "Diamonds International Resorts Buys Gold Key Resorts."
 
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Maple_Leaf

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Your last statement is not true DRI just purchased six (6) Gold Key Resorts and they are located in Nage Heads, NC (OBX) and Virginia Beach, VA. They are located on coastal North Carolina and Virginia... There is also a topics/thread on this very subject posted on TUBS BBS on 8/17/2015.

The Title is "Diamonds International Resorts Buys Gold Key Resorts."

A-Ha! Thank you. I learn something new every day! :eek:

This new information does show that DRI was very interested in inventory in coastal North Carolina and Virginia. Perhaps they would like to continue expanding in the area?
 
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Festivasu(ks

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Any NC Bar member's in Peppertree Association II

Are there any NC Bar member's in any of the Peppertree Association's looking to file a class action suit against Festiva for mismanagement?
 

Kozman

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I own at Peppertree. Since they are basically shutting down a little over half a year into the schedule I assume they have a lot of maintenance fee left over that will not be used. Will/can this be used toward repairs. If they decide to go that way? If not, will they try to get a special assessment? I'd hope they do decide to go under rather than do a SA since I have very little invested originally. If they do a SA I'm thinking a lot of people will tell them to take back the deed, especially the people who were denied usage this year. That would make it even more difficult to repair. I just hope Festiva is not allowed to buy the place for pennies on the dollar.

I'd appreciate any updates as they come out.
 

allsmiles277

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Festiva always wanted to get rid of "deeded" timeshare owners !!!

I always wondered when I went to so called UPDATE meetings when salespeople tried to get you to convert to the POINTS system if Festiva had plans on getting rid of deeded timeshare owners. The pushy sales people tried to scare you into converting to the points system. Festiva continues to make in roads on lowering the deeded timeshare owners. I wouldn't be surprised if the Boards for each Section were in on this. In fact the Boards are the reason all these Buildings are being condemned for not doing their job. Festiva is the management company that the Board hired to do their job. I wouldn't be surprised if the Boards are personally sued for not doing their job. I am sure there is plenty of blame to go around. I think Festiva should be replaced with another management company with an honest track record. Many of these so called "management" companies are money pits backed up by the Boards that hire them. I don't trust any of the management companies. Look at what SPM has done at APATB III. They want your money. They will bleed you dry if the Board lets them. I hope there are honest management companies out there but I haven't seen one yet.
 

Ty1on

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I always wondered when I went to so called UPDATE meetings when salespeople tried to get you to convert to the POINTS system if Festiva had plans on getting rid of deeded timeshare owners. The pushy sales people tried to scare you into converting to the points system. Festiva continues to make in roads on lowering the deeded timeshare owners. I wouldn't be surprised if the Boards for each Section were in on this. In fact the Boards are the reason all these Buildings are being condemned for not doing their job. Festiva is the management company that the Board hired to do their job. I wouldn't be surprised if the Boards are personally sued for not doing their job. I am sure there is plenty of blame to go around. I think Festiva should be replaced with another management company with an honest track record. Many of these so called "management" companies are money pits backed up by the Boards that hire them. I don't trust any of the management companies. Look at what SPM has done at APATB III. They want your money. They will bleed you dry if the Board lets them. I hope there are honest management companies out there but I haven't seen one yet.

From what I'm reading here, no management company in their right mind would pick up this property.
 

Kozman

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I always wondered when I went to so called UPDATE meetings when salespeople tried to get you to convert to the POINTS system if Festiva had plans on getting rid of deeded timeshare owners. The pushy sales people tried to scare you into converting to the points system. Festiva continues to make in roads on lowering the deeded timeshare owners. I wouldn't be surprised if the Boards for each Section were in on this. In fact the Boards are the reason all these Buildings are being condemned for not doing their job. Festiva is the management company that the Board hired to do their job. I wouldn't be surprised if the Boards are personally sued for not doing their job. I am sure there is plenty of blame to go around. I think Festiva should be replaced with another management company with an honest track record. Many of these so called "management" companies are money pits backed up by the Boards that hire them. I don't trust any of the management companies. Look at what SPM has done at APATB III. They want your money. They will bleed you dry if the Board lets them. I hope there are honest management companies out there but I haven't seen one yet.

I got the same feeling about Festiva. I also attended those high pressure sales updates when Festiva took over management. They did use scare tactics to try and push you toward their points. They indicated they were going to add a new building with big flat screens and granite counter tops. They even had a model to show us. We didn't bite and they were a bit rude upon leaving. How convenient it would be for them to buy the resort for pennies on the dollar and allow their dreams to come true. This all looks suspicious. As far as the balconies and walkways go a good portion of the construction is new from when they added the elevators. They connected the buildings to share the elevator. I smell fish.
 

jimbob79

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Peppertree Atlantic Beach Maintenance Fees

I received the Maintenance Fee Invoice weeks ago for my Blue Ridge Village week but nothing for Atlantic Beach. No news is not good news! Anyone know if the decks have been replaced yet in Phase 2? Wonder if we are looking at a special assessment?
 

Kozman

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I received the Maintenance Fee Invoice weeks ago for my Blue Ridge Village week but nothing for Atlantic Beach. No news is not good news! Anyone know if the decks have been replaced yet in Phase 2? Wonder if we are looking at a special assessment?

I have not received a maintenance fee either. Since almost three month worth of owners were denied use of their week this year I wonder how many would reply with non payment on MF much more a special assessment. Maybe they should just declare bankruptcy as well. I'm sure Festiva would gladly offer to purchase the property for pennies on the dollar! If they do repair will they be ready by Jan. 1? Maybe they will use the three months worth of MF to do the repair since they were closed and had no need for the money already collected.
 

Mulligan101

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Peppertree Atlantic Beach Maintenance Fees

I have not received a maintenance fee either. Since almost three month worth of owners were denied use of their week this year I wonder how many would reply with non payment on MF much more a special assessment. Maybe they should just declare bankruptcy as well. I'm sure Festiva would gladly offer to purchase the property for pennies on the dollar! If they do repair will they be ready by Jan. 1? Maybe they will use the three months worth of MF to do the repair since they were closed and had no need for the money already collected.

I received a letter from HOA for PAB II, with the annual budget for year ending 12/31/16. The letter stated that the board is still weighing their options regarding the stairwells and decks. Total replacement has been recommended by architects and engineers, but HOA is still investigating all possibilities. Also, since PABI declared bankruptcy, the other two associations will have to take over their (PABI) share of common area expenses; therefore board of directors approved a 6.5% maintenance fee increase in 2016 for additional expenses. No mention of special assessment fee. At this point, I would gladly give up any ownership or interest in Peppertree Atlantic Beach!
 

Kozman

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I received a letter from HOA for PAB II, with the annual budget for year ending 12/31/16. The letter stated that the board is still weighing their options regarding the stairwells and decks. Total replacement has been recommended by architects and engineers, but HOA is still investigating all possibilities. Also, since PABI declared bankruptcy, the other two associations will have to take over their (PABI) share of common area expenses; therefore board of directors approved a 6.5% maintenance fee increase in 2016 for additional expenses. No mention of special assessment fee. At this point, I would gladly give up any ownership or interest in Peppertree Atlantic Beach!

I think any owner would be foolish to pay any maintenance fees without a firm plan in place on what they are going to do and when. Jan. 1 is coming all too soon for repairs to be complete by then. They'd be throwing good money against bad. They can have my deed back.
 
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