WHAT IS HARBORVIEW PLACE?
Harborview Place is a new, secluded, waterfront enclave ideally located two blocks from Main Street and Straight Wharf. This charming compound comprises 10 meticulously restored cottages framing expansive lawns and a soft, sandy beach. This in-town oasis affords stunning views of Nantucket Harbor and picturesque Monomoy. The 10 residences are uniquely designed in Nantucket's tradition of simple elegance and range from a classic fisherman's cottage by the water to a historic, fully renovated barn. Harborview Place boasts an impressive array of private club services and amenities -- from a personal concierge to owners' lounge and private beach services. A highly professional team that includes an award-winning architect with extensive Nantucket experience, a luxury boutique hotelier, and the creators of the equity residence clubSM concept, is creating this exquisite new development.
WHAT ARE MY OWNERSHIP OPTIONS AT HARBORVIEW PLACE?
Equity Residence ClubSM Ownership
Equity Residence ClubSM ownership is the fastest growing segment of the luxury vacation home industry. This innovative concept provides the ultimate vacation experience and the benefits of real estate ownership while dramatically reducing the responsibilities and financial burdens associated with traditional ownership. Owners of The Residence Club at Harborview Place receive 1/8th-deeded interests in a Harborview Place residence and
have private boat privileges. The Residence Club is owned and operated much like a prestigious equity golf country club and there is no limit on use. If some owners use their club less, other owners can use it more.
IF I PURCHASE A RESIDENCE CLUB OWNERSHIP DO I OWN REAL ESTATE?
Yes. Ownership is evidenced by a real estate deed, which is recorded and guaranteed by a title insurance policy. Each owner is conveyed a 1/8th undivided, deeded interest in one of the fully furnished residences, and has flexible access to all residences within their ownership category (one-, two- or three-bedroom). Like other real estate, your Residence Club ownership may be sold, willed, transferred or placed in a trust at any time.
HOW MANY RESIDENCE CLUB OWNERSHIPS WILL BE SOLD?
The Residence Club at Harborview Place will offer only eight ownerships for each Club residence. The total number of Club ownerships will depend on how many residences are purchased. With a limit of only eight owners per Club residence, Club ownership affords frequent, flexible and totally relaxing Nantucket vacations, regardless of the number of Club residences.
CAN A COMPANY OR CORPORATION PURCHASE A RESIDENCE CLUB OWNERSHIP?
Yes. An ownership can be held in a corporate name.
CAN MORE THAN ONE FAMILY OR INDIVIDUAL SHARE A SINGLE RESIDENCE
Yes. Owners can form partnerships to control an ownership.
WHAT ARE THE ADVANTAGES OF EACH TYPE OF OWNERSHIP?
Equity Residence Club SM ownership is designed to provide generous and flexible vacation home enjoyment. It removes the responsibilities and greatly reduces the financial burden typically associated with Nantucket vacation-home and boat ownership. The Residence Club at Harborview Place has been created for those who desire a worry-free Nantucket beachfront home with private boat privileges and hotel services. The owner can host invited guests and offer the residence for rental. Owners may also opt for Club services for a fee.
HAVE EQUITY RESIDENCE CLUBSM COMMUNITIES BEEN DEVELOPED AT OTHER PRESTIGIOUS RESORTS?
Yes. This innovative ownership concept has been enthusiastically embraced by affluent buyers at premier destinations such as Aspen, Vail, Telluride, and Steamboat Springs, Colorado; Deer Valley, Utah; Napa Valley, Lake Tahoe and La Quinta, California; Jackson Hole, Wyoming; Florence, Italy; and Bermuda. There also is a luxurious residence club in Manhattan. Each of these residence clubs is owned and operated much like The Residence Club at Harborview Place. New residence clubs are in development in a variety of other prestigious beach, golf, mountain and urban destinations worldwide. The creators of the equity residence ClubSM concept are part of the Harborview Place development team.
AS A RESIDENCE CLUB OWNER, HOW OFTEN CAN I VACATION AT HARBORVIEW PLACE?
As often as you wish, subject only to Club reservation procedures. As an owner, you have the flexibility of reserving vacations well in advance, as well as booking short-notice vacations whenever available. There is no limit to the amount of vacations you can enjoy at your Club. If some owners visit their Club less often, other owners can visit more.
IS THE RESIDENCE CLUB AT HARBORVIEW PLACE A TYPICAL TIMESHARE DEVELOPMENT?
No. The Residence Club at Harborview Place is owned and enjoyed much like a private equity golf country club. Timesharing typically provides the right to use only a specific week and lodging is limited to a specific unit. Club owners have access to all Club residences of their ownership category (one-, two- or three-bedroom) with unlimited usage, subject to the reservation procedures and availability.
HOW DO RESIDENCE CLUB OWNERS RESERVE LODGING?
The Club's reservation privileges enable owners to reserve vacations well in advance, while also accommodating more spontaneous visits. Each February, owners reserve their most important vacation dates for the coming year. Additional Club vacations may be reserved throughout the year. A detailed explanation of Club reservation procedures is provided in the Owners' Information Booklet.
WHAT IF THE NUMBER OF RESIDENCE CLUB OWNERS WISHING TO LODGE IN CLUB RESIDENCES EXCEEDS THE NUMBER OF RESIDENCES AVAILABLE?
The Residence Club at Harborview Place is designed to equitably allocate peak-period vacations when demand for lodging may exceed supply. A Rotating Priority System® ensures that all owners will have equal access to high-demand periods over the years. This system has proved fair and equitable for more than 15 years at other residence clubs.
WILL RESIDENCE CLUB OWNERS ALWAYS STAY IN THE SAME RESIDENCE?
Not necessarily. To provide greater flexibility and availability, owners have equal access to all Club residences of their ownership category (one-, two- or three-bedroom). Requests for specific residences will be granted when possible.
CAN RESIDENCE CLUB OWNERS RESERVE MORE THAN ONE RESIDENCE DURING THE SAME TIME PERIOD?
Yes. Because Club owners are not restricted to a particular residence, they can reserve more than one residence at any given time, if sufficient residences are available. This unique benefit of equity residence ClubSM ownership enables owners to host family, friends and colleagues while ensuring they enjoy their own private retreat.
DO RESIDENCE CLUB OWNERS HAVE GUEST PRIVILEGES?
Yes. Owners may invite guests to stay with them during their vacations and they may also invite unaccompanied guests to enjoy any of their confirmed Planned Vacations without a guest fee.
DO RESIDENCE CLUB OWNERS PAY ANNUAL FEES?
Yes. Club owners pay annual fees for the professional management, operation and maintenance of all Club residences and facilities. These fees are significantly lower and are more comprehensive than those of a wholly owned vacation home. Included in these annual fees are funds for property taxes, insurance, utilities, administrative salaries, supplies, maintenance, window washing, trash removal, legal/accounting and reserves for the replacement and/or refurbishing of Club facilities. Please request a Financial Information sheet for current estimated annual fees.
WHO ESTABLISHES THE DUES AND CONTROLS THE AFFAIRS OF THE RESIDENCE CLUB?
An owner-elected board establishes budgets and fees on an annual basis.
WILL THE RESIDENCE CLUB AT HARBORVIEW PLACE BE OPEN TO THE PUBLIC?
When fully subscribed, the Club residences will be operated for the exclusive use and benefit of Residence Club owners and their guests. Prior to full subscription, limited public use may be permitted for marketing purposes. This type of use will not diminish lodging availability for owners.
DO RESIDENCE CLUB OWNERS PAY ANY LODGING CHARGES WHEN THEY STAY AT THEIR CLUB?
No. Owners do not pay for use of Club residences. They do pay for housekeeping and any additional requested services.