Luxury Timeshare at Hampton Bay

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

Luxury Timeshares at Hampton Bays

The decades-old Canoe Place Inn in Hamptons Bays will undertake a $100-million project that developer R Squared Lic would dub the The Residences at Canoe Place, essentiall luxury time-shares.

R Squard filed its plan Friday in the town of Southampton. No start date given, but Heaney said the process will likely take up to two years.

[GrayFal Silver Contributor and supermoderator Find all posts View Profile Close GrayFal]

Luxury Timeshares at Hampton Bays

The decades-old Canoe Place Inn in Hamptons Bays will undertake a $100-million project that developer R Squared Lic would dub the The Residences at Canoe Place, essentiall luxury time-shares.

R Squard filed its plan Friday in the town of Southampton. No start date given, but Heaney said the process will likely take up to two years.

Hmmmmm....interesting. That is a historic building....with a colorful past.
problem is like Gurney's Inn & Spa in Montauk, it will have LOTS of off season weeks.....interesting.


1750: Jeremiah Culver
Builds the Canoe Place Inn

In 1750, Jeremiah Culver built the Canoe Place Inn in Hampton Bays, which was called "Good Ground" until 1922, according to "Old Canoe Place Inn" by Helen Penny Walter. The inn was named for the place where Indians left their canoes when hunting. After Julius Keller, the owner of Maxims in Manhattan, bought the inn in 1917, it became popular with celebrities like actors Helen Hayes and Cary Grant and boxer John L. Sullivan. New York State Governor Alfred E. Smith, who spent 30 summers in the area, and other politicians helped earn the inn the nickname "Tammany Hall of the East." While fire destroyed it in 1921, it was soon rebuilt. The 30,000-square-foot Canoe Place Inn, or CPI, is Long Island’s largest nightclub, and has hosted performers like Bad Company, Joan Jett and Bon Jovi. CPI was recently put up for sale. The inn is shown here in an undated photo.

–Cynthia Blair

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

Pat,

You are so close to this location that I thought of you right away. I wonder what they will cost, and what type of seasons they will be offering. I would only be interested in July/August.

Maybe they will offer fixed weeks. That would great as long as they weren't too pricey.

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

They will probably offer fixed summer weeks and float for others
-and/or-
They'll affiliate with RCI Points

[bigfrank Administrator Find all posts View Profile Close bigfrank]

When is this starting up. I want to take a tour. No realy I do.

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

I doubt if they will belong to RCI but most likely to the Registry Collection. This is something new that Cendant is doing now. However, the start of this Collection Registry is very slow and confusing with the fees they are going to charge. I posted about this before here or at TUG.

http://www.theregistrycollection.com...try_portfolio/

Here is an old Cendant press release too:

http://www.cendant.com/search/?crite...llection&Go=Go

It is clear that they want more money from us. JMHO.

[GrayFal Silver Contributor and supermoderator Find all posts View Profile Close GrayFal]

I doubt if they will belong to RCI but most likely to the Registry Collection. This is something new that Cendant is doing now. However, the start of this Collection Registry is very slow and confusing with the fees they are going to charge. I posted about this before here or at TUG.

http://www.theregistrycollection.com...try_portfolio/

Here is an old Cendant press release too:

http://www.cendant.com/search/?crite...llection&Go=Go

It is clear that they want more money from us. JMHO.

Gee, what a shock! More MONEY!!!

I don't feel that any new 'upscale' resorts would be attracted to RCI - even the Manhattan Club's new build-out is going with II. Owners want to be able to trade into 'like' properties and besides HGVC and the Grand Mayans, what have they got that is comparible to Four Seasons, Hyatt, Marriott??

Whether this will fly is a whole other thing...don't get too excited...although Southampton Town Supervisor Patrick 'Skip' Heaney lives in Hampton Bays....as I said, the season is SHORT so all those off-season weeks will have to be carried....if they were smart, they would do some kind of fractional ownership to off set that.
Also, this is not waterfront property - althought it does overlook the Shinnecock Canal....they better put in one fabulous spa

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

Pat, I believe that RCI (Cendant) wants to compete with II or the hotel chain internal exchanges so started the Registry Collection. This will leave even less nice resorts left in the RCI space bank, I believe. It was mentioned here before and there are more threads about the Registry Collection in TUG too.

http://www.timeshareforums.com/showthread.php?t=8104

I wonder if they will also put in the clause that once you deposit your week, they can do with it as they see fit so rent it out most likely for big bucks too.

The more I think about it, the less I want to join or get excited about it.

[arlene22 Senior Member Find all posts View Profile Close arlene22]

CPI-- That's where I spent my 21st birthday! I can remember waiting outside until midnight so the bouncer would let me in. I won't tell you how many years ago that was.... Can't picture it as a timeshare.

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

When is this starting up. I want to take a tour. No realy I do.

Frank,

The original article that I read did not give a start date.

I am also interested in these timeshares, so I will try and stay on top of any progress, and post it here.......

[arlene22 Senior Member Find all posts View Profile Close arlene22]

According to the Southampton Press, it will be a very high end fractional 6-12 weeks/year. Not sure if this link will work without logging in.

http://www.southamptonpress.com/inc/...le=News02.html

P.S. Why doesn't the insert link feature let you substitute text for the link like on TUG? I know this is the same bbs software, it seems strange...

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

I couldn't open the link because you have to have a subscription. I noticed that it was for sale ( http://www.canoeplaceinn.com/welcome.htm ) so the company, who bought it, must have big plans.

I found some history too.

[arlene22 Senior Member Find all posts View Profile Close arlene22]

Here's some of it:

The Canoe Place Inn in Hampton Bays, a popular destination for revolutionaries, politicians, gangsters and starlets during its colorful 200-plus year history, will most likely be razed to make room for a proposed 75-unit luxury time-share.
Real estate developers and cousins Mitchell and Gregg Rechler, of R Squared LLC in Melville, on Friday filed an application with Southampton Town to construct a four-story “private residence club” on the 6 acres that now house CPI, a nightclub that closed in September. The nightclub is expected to remain in operation through next summer, according to a spokesperson for the developer. The building is located on the northwest corner of Montauk Highway and Newtown Road, just west of the Shinnecock Canal.
The $100 million project, which has been named The Residences at Canoe Place, will feature two- and three-bedroom time-share apartments that will be available to people interested in buying a one-eighth share of a unit. Buyers will be able to use the rooms for periods ranging from six to 12 weeks per year.

The rest of the article talked about the approval/permitting process that they have to go through. Knowing how restrictive the town is when it comes to developing near the water, I would guess that this plan will go through several iterations before it's approved.