An update for all Atlantic Beach resort owners.
Owner News
What’s Inside
Resort Opening Date
Construction Progress
Usage & Reservation Information
Update Your Contact Information
Special Assessment
Dear Owner,
We are writing to provide an update to Atlantic Beach Resort owners of Phases II and III. To start on a positive note, the resort fared well in Hurricane Dorian in September. There was some water intrusion and minor roof damage, but it was very minimal relative to what it could have been and to the extent of the damage from Hurricane Florence. The rest of this year’s hurricane season has been relatively quiet on the N.C. coast. We know that many of you have been anxiously waiting for news and updates about the property, and we appreciate your patience as we work to repair your resort.
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Resort Opening Date
Construction has begun, and the process was slow at first, but we are starting to see real progress on the units. We anticipate that PAB II will be open by mid-April 2020, and PAB III will open prior to the start of the 2020 summer season.
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Fall 2019 Atlantic Beach Resrort Owner News
Construction & Renovation Progress
As a reminder, the buildings in Phase II have been completely gutted and will essentially be brand new inside and out. We think owners will be thrilled with the results. Phase III did not sustain as much damage as Phase II; however, there were a small number of units that were severely damaged, while some other units experienced water intrusion. In addition to repairing the damage caused by the storm, we will also be making improvements and upgrades to Phase III. We also wanted to let owners know that in addition to the repairs at the resort, there will be a new boardwalk with beach access from the resort to the beach, which will be completed by the time Phase II reopens.
See page 4 for more photos.
Usage & Reservation Information Phase III Owners
As previously communicated, we intend to host all PAB III owners in PAB II for 2020 reservations once PAB II opens, so that you can experience the completely renovated units with new furniture, flooring, drywall, appliances and bathrooms. You may have already received a letter with a confirmation number for your 2020 reservations at PAB II. If your week falls between weeks 1 and 15, then you will need to reschedule your week later in the year, after PAB II has opened. Phase II Owners PAB II owners with weeks after April 15, 2020, can refer to the confirmation letter you received by mail in August. If you did not receive this letter or have questions or concerns about your 2020 reservation, please contact the Owner Service Team. If you have 2019 or 2020 usage that has been or will be impacted by the resort’s closure and you have not yet rescheduled your vacation, you will be able to use your week after the summer season at PAB in either Phase II or Phase III, based on availability.
Coming in 2020
While our primary focus is getting the units complete and ready for occupancy, there are some projects that will continue throughout 2020 after the resort opens, including: • New bathrooms and showers next to building 23. • Indoor pool repairs. • Significant exterior repairs and painting.
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Fall 2019 Atlantic Beach Resort Owner News
Special Assessment
In the enclosed Maintenance Fee invoice, you will see an additional line item for a Special Assessment. As many of you know, Special Assessments are needed at to cover additional HOA costs when reserve funds are not enough, to keep maintenance fees from increasing when a portion of the ownership does not pay their annual dues or to complete renovations or upgrades to make improvements to the resort. In our case, insurance funds only cover the value of what was damaged in the hurricane but not the cost of upgrades. Among other improvements, we are replacing all windows and doors, which were original to the buildings and while they were not all damaged, they were the cause of much of the water intrusion during the storm. With the upgrades we are making above and beyond what is covered by insurance, you will experience a brand new resort. While the hurricane was devastating and no one anticipated the resort being closed for this long, we used the opportunity to make significant improvements. In total, the cost of renovations is approximately $11 million, with an additional $3.5 million for new furniture, fixtures, equipment and applicances. Of that, insurance is covering $8.9 million. The rest will be funded by the Special Assessment.
See page 4 for more images
To ease the financial burden, we will be splitting the Special Assessment into two payments. The first payment will be due on January 1, 2020, along with your annual maintenance fees. You will receive an invoice in the mail for the second and final payment, which will be due by May 1, 2020. While we know that extra costs are never welcome, especially at a time when you have not been able to vacation to your resort, we hope that you will understand the necessity of the assessment and the reward that will come when you do visit the resort in 2020, when it will be better than ever.
Update Your Contact Information
Contact Us
Festiva Owner Services 855-411-9335
We also want to ensure that we have your most current contact information on file, as we will be sending most of our updates and communication via email to make communications more efficient and be environmentally conscious. Please visit the following link to complete our contact information update form online: www.festiva.com/ABContactUpdate
Hours: Mon. - Thu. 8 a.m. - 6 p.m.
Fri. 8 a.m. - 5:30 p.m. Sat. 8:30 a.m. - 5 p.m. Eastern Time Closed Sunday & Major Holidays
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Fall 2019 Atlantic Beach Resrort Owner News
Progress Photos & Design Renderings
New cabinets, counters, flooring and windows in the kitchen of a 2-bedroom unit.
New bathroom light fixtures and flooring.
New flooring, paint and doors in bedroom and hallway.
Design concept for kitchen, dining and living room area of a 1-bedroom unit.
Design concept for bathroom in a 2-bedroom unit.
Design concept for master bedroom in a 2-bedroom unit.
1 Bedroom Unit
2 Bedroom Unit
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Fall 2019 Atlantic Beach Resort Owner News
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