Hyatt to propose building timeshares in Newport Beach, CA

[4ARedOctober Super Moderator Find all posts View Profile Close 4ARedOctober]

This is from John Raymond who is in timeshare resales and send out a regular news bulletin:

News Bulletin

Hyatt proposes new timeshare development for Newport Beach
New proposal by Hyatt for use of the existing nine-hole course.

A Newport Beach hotel is considering a major change.

Hyatt Newport Beach's owners have submitted plans to convert the nine-hole Back Bay Golf course into a timeshare development and build a 24,387-square-foot ballroom on the hotel's southwest parking lot.

The expansion will require approval from the City Council and the California Coastal Commission because the project will require an exemption from the city's coastal height-limitation code.

The proposal has been submitted to a Costa Mesa environmental consulting firm that will draft an environmental report on the project.

We of course welcome new timeshare projects since sooner or later the units will become available for the resale market.

[Bill4728 Super Moderator Find all posts View Profile Close Bill4728]

WOW! thanks is great news.

We love visiting SoCal and another great location is always good news.

[camachinist Super Moderator Find all posts View Profile Close camachinist]

Relevant public disclosure information:

http://newportbeach.granicus.com/Met...&meta_id=15639

Considering the size and location of the planned development, it will have minor impact on supply/demand metrics, IMO, but will provide a nice alternative for many, both for purchase and exchange/rental.

Given the discussion I've seen of this project over the last year or so, it likely won't be built until around the time NCV builds out, if at all.

Irvine Ranch still holds some land above NCV, last I read, and I'm watching to see what they do with that. I had heard noises of a hotel project, but haven't seen anything recently.

Thanks for the heads-up

Pat

[taffy19 Gold Contributor Find all posts View Profile Close taffy19]

Why not Huntington Beach?

There are two hotels in Huntington Beach right on the coast. One is the Hyatt and the other one is the Hilton. We saw both of them being built.

The Hilton originally was going to have two towers but then the real estate market cooled off so they decided not to build the second tower. This would be an ideal location for the HGVC to build a timeshare project in the future. The land is there and it supposedly was approved because they showed the "two tower model" in the lobby for a long time. We have to go back for lunch at both places and see if the model of both Hilton towers is still there.

The Hyatt in Huntington Beach would have been a better location than where they are planning to build now plus they could have more units too and both, Hilton and Hyatt, would have an ocean view starting from the second floor. Huntington Beach has a fantastic beach and the pier is not far away as well as the shops. It is a popular area all year long.

Lately, there have been many permits issued in Southern California near or on on the coast and one of these days, California will no longer be that hard to exchange to either.

Buy where you want to visit most often because it is safe and trading values will keep changing constantly if new timeshare condos are being built.

[Steve Senior Member Find all posts View Profile Close Steve]

This would be awesome

Thanks for posting this. I'd love to see a new Hyatt timeshare in Newport Beach. I hope it is approved and is built.

Steve

[chemteach Senior Member Find all posts View Profile Close chemteach]

Lately, there have been many permits issued in Southern California near or on on the coast and one of these days, California will no longer be that hard to exchange to either.

Buy where you want to visit most often because it is safe and trading values will keep changing constantly if new timeshare condos are being built.

Emmy,
I would be very surprised if the SoCal coast ever became a very easy trade - at least for summertime. There's so much to do and California has an allure for many vacationers. Also, there are no timeshares between San Clemente and Oxnard. These additional projects would fill a much needed dearth of places to go closer to Los Angeles.

Edye