Email From TOWM. On 5 February 2026
Dear Eagle Village Owners,
Warm greetings for 2026. We hope you are looking ahead to a healthy and blessed 2026.
We are writing to provide a clear update on where things currently stand and what the Board and Management have been working on. As you can see, progress has been slower than we originally hoped or anticipated.
At this time, the property remains closed, and it does not appear likely that we will be able to reopen. You have not been billed for 2026 fees as of now.
Two significant factors have contributed to the delays, and while a vote is still planned, these matters must be addressed before it can move forward.
- First, as we have continued our review, we have identified a level of debt and financial obligation that is greater than initially understood.
- Second, the current real estate market presents additional challenges. Market conditions remain soft, and most experts anticipate that 2026 will be, at best, flat. As the market continues to adjust from the post-COVID surge, it has shifted into a buyer’s market, which typically places downward pressure on pricing. Ongoing higher interest rates have further impacted these conditions.
Given these factors, the Board is working closely with legal counsel and title professionals to carefully evaluate the best path forward. Our ultimate goal remains the same: to clear title so the property can be sold with title insurance. The key question we must answer is whether, given the estimated debt now exceeding $2 million and the current market environment, a sale could realistically generate enough proceeds to satisfy all debts, expenses, legal fees, and related costs. As part of this evaluation, the Board is also considering whether court involvement—specifically bankruptcy—may be an appropriate tool to help move the process forward more efficiently and potentially reduce time and expense. This option is still under careful review.
Any upcoming vote will reflect these realities and will be based on the final path and plan approved by the Board, legal counsel, and title professionals.
Please know that we are still actively engaged, still working toward resolution, and committed to keeping you informed. You will hear from us as soon as there are meaningful updates to share.
As always, be sure to keep us updated if any of your information has changed. You can reach any of the TOWB team at the numbers below: