Commodores Retreat

[TreeFrog]

We were in Seagrove in early September. Stayed at Beachcrest. Were wondering if there has been any additional progress at Commodores Retreat adjacent to Eastern Lake. We have many memories there and hate to see it in a state of paralysis. Any Info welcomed.
Thanks!

Sorry to disappoint you. The work at CR seems to still be on dead stop. I haven't seen a live person there in months.

CR used to be jam up in the summer and also had a goodly crowd of snowbird in the winter. I'm sure a lot of folks miss it, but the situation described in this thread sounds grim and doesn't appear to have been resolved.

 

[gardening1970]

I see there is a top floor unit listed for sale at $60,000 - with clear disclosure that the unit is not habitable and a special assessment is expected. Looks like it is Wells Fargo REO per the tax records.

Any hope that this building will be habitable anytime soon? Appears to be a bad situation for all concerned.

 

[UofL]

We drive by each time we are down there. The last time was July 4th week. Feel badly for people who had money invested in it.
We stayed there two or three times in the early 2000's. Great spot by Eastern Lake.
Would have recommended the place to anyone - we had one of the smaller units. 1 bedroom with a bunkbed in the hallway which was fine when we took one grandson. He loved having the pool. I don't know if they still build the bunkbed reset into the hallway anymore. Would only be good for young families.

 

[gardening1970]

I've stayed next door at Eastern Shores several times. Such a terrific location. I'm sure the neighbors would love to see some progress almost as much as the owners.

 

[Lynnie]

I thought I saw scaffolding there this past weekend, but it could have been a different bldg.; I was looking from the beach and could have been confused. I believe a lot of the owners have chaulked this one up to losses.

 

[robertsondavies]

so what do units owe apiece? Do they all each owe $50K in arrears? or do they owe $50 so far, for the unfinished work, plus some other amount to finish?

 

[studioagirl]

this is a good question. i've been watching for a reply, but none yet. i wonder exactly what it would take to resolve the issue and save the building, besides an individual with enough money to clear everyone out. obviously that's not happening anyway.

 

[Franny]

I see there is a top floor unit listed for sale at $60,000 - with clear disclosure that the unit is not habitable and a special assessment is expected. Looks like it is Wells Fargo REO per the tax records.

that this building will be habitable anytime soon? Appears to be a bad situation for all concerned.

That unit is under contract.

so what do units owe apiece? Do they all each owe $50K in arrears? or do they owe $50 so far, for the unfinished work, plus some other amount to finish?

Waiting for a phone call for answers regarding the assessments and will let you know soon.

 

[Franny]

The only information I can get at this point is each homeowner is being assessed $650 per month. No one knows how long this will last and not everyone is paying. Also, a group of owners are trying to obtain financing to complete the building. Will let you know more as soon as something knew comes up.

 

[studioagirl]

so homeowners are still paying their normal hoa? hope none of them relied on rental income. what a mess.