I have been out in the woods this past week (camping with the youngest) and after reading some of the posts, what is going on? Are all the new developments shutting down? I thought Rainbow and Aquarius were a done deal? what about the big Mall and the Orient Express property in Cupecoy? Indigo? Has everything busted? Sounds like the only smart people (sadly to say) is the Mullet group as they have just been holding off till the right moment???

Actually Rainbow and The Cliff managed to develop before the real estate market crashed. This has nothing to do with SXM but with the whole economy in general. People on SXM websites tend to want to pinpoint the issue to the island but here in the US, the market is just as bad if not worse. Multiple houses just in a few blocks around me have been for sale and will not sell at the prices they want. When the real estate market begins to develop again,even if it is in a year or two, there will be many investors out there soaking up the remains.

[www.vrbo.com]

Life is not a child's game of follow the Leader. Instead, life is more about finding one's own purpose in life....your life's plan, and then making a positive difference on earth.

yes they developed before the crash, but will they stay afloat? Maybe I'm just not understanding the recent letter sent out re: Rainbow?

I didn't quite understand the letter either Kim
and as far as things going belly up, nothing really has yet...but I am sure it wll.
and building is still going on like crazy here.
I notice though that the new building in Cole Bay right past the new half finished "roundabout"..where the Chinese restaurant was.... doesn't have very many spaces rented out yet.
and the new complex next to the cinema is also huge. I want to see how many of those stores they rent out when it is completed.
and they are building this monstrosity right down the hill from me.



I can't wait to see how they are going to rent out all these stores too.

[barcann.livejournal.com]

Regarding the letter, this is just a dispute between some of the owners and the developer regarding the wording in their contract. Simple as that. Not even sure why the link was put on a travel website to begin with when it is an argument between some owners and the Erato family. These owners are happily living the life of Riley in their multi-million dollar condos at Rainbow while we speak so there is nothing anyone outside of Rainbow would concern themselves with unless they were looking for sensationalism.

And regarding the stay afloat part, if Royal Palm, Royal Islander, Sonesta Maho, Pelican, Divi, etcetera etcetera go belly up, well then maybe they will alone because the difference is that The Cliff and Rainbow are condos and not timeshares or hotels. They are owned outright like your home is.

[www.vrbo.com]

Life is not a child's game of follow the Leader. Instead, life is more about finding one's own purpose in life....your life's plan, and then making a positive difference on earth.



Edited 3 time(s). Last edit at 07/20/2008 10:53AM by John.

read this article on SXMPE
intersting
[sxmprivateeye.com]

[barcann.livejournal.com]

I think it was a little more than the wording. It was that they wanted owners to sign a different set of rules from the original contract signed. They also decided to make part of it a timeshare hotel when it was supposed to be solely a condo development.

And? How was my description any different than yours except you decided to elaborate on the wording of a contract in dispute. And I assume then that by elaborating, it will help some cause? Please let us know so that we can all join in to this worthy cause...

And you didn't answer me on my prior question...did you sell your share at Aquarius or are you still an investor?

Added....Oh I see from a different post that you are still an investor with the Eratos.

[www.vrbo.com]

Life is not a child's game of follow the Leader. Instead, life is more about finding one's own purpose in life....your life's plan, and then making a positive difference on earth.



Edited 1 time(s). Last edit at 07/20/2008 12:08PM by John.

Kim
For the last few years when I was on island. I just was just stymied at all the building. There is really no influx of people. There are the same number of flights a day. The cruise ship people will expand somewhat but the existing businessed that have contracts with the cruiselines will absorb the extra business from them. Can't really see new businesses being formed to fill the new the commercial buildings.

On the topic of more places to stay. The cruisers' aren't even the picture. Some of the big bucks condon in Cupecoy were bought buy the mega yacht owners to stay in ( go figure leaving a $40 mil yache stay in a $1mil condo). Whether their will be extra money spent via owner or who the owner rents to is yet to be seen. And at that is not going to be many people. More and more timeshare " owners" are letting their units go back to the timeshare entity so the places are just renting the units. That is going to be alot of additional supply of rooms available. So as supply and demand kick in I see empty rooms at bargain prices to stay in IF you can get a flight to the island.

The stronger and best managed will survive. Time will tell.

SXMWEndell

Wendell,

You are such a wise guy - and I mean that in the very nicest of ways!!

I often wonder who will own and utilize all these stores and homes when the cost and availability of air flights is becoming so very restrictive.

Respectfully,

pat

Very good statement...time will tell. We can theorize until we're blue in the face but time will tell all. And it's those that choose to be patient and wait who will see the truth, good or bad.

In the meantime...let's all get back to our issues of the Enquirer...

[www.vrbo.com]

Life is not a child's game of follow the Leader. Instead, life is more about finding one's own purpose in life....your life's plan, and then making a positive difference on earth.

Blue Mall

Maybe it's just me... but I don't go to SXM to shop. I can do that at home. I guess I'm missing something.

peace

Yes Andrea, it does seem odd that they would put a mall up but I assume they are planning on all the mega yacht people to frequent this place. I personally find it a foolish idea and another that will do poorly like the ones under La Terrasse but then again, depending on the construction and whether they will complete their developments in this market will tell all.

I did hear that a Grande Marche will be opening up in that area and that to me is a wonderful plan for those who don't want to trek over past the Simpson Bay Bridge. They will do well being that they will have most of Maho and Cupecoy frequenting it.

[www.vrbo.com]

Life is not a child's game of follow the Leader. Instead, life is more about finding one's own purpose in life....your life's plan, and then making a positive difference on earth.

it's like the huge West Indies Mall in Marigot. They thought that would attract the mega yacht crowd too and it didn't happen.
I do not see great success for these malls.

[barcann.livejournal.com]

Okay so overdevelopment on the island stinks and it will be fun to sit back and watch and see if it catches on and gets rented and STAYS rented but I have to agree with above. A Grand Marche in that area will be great for the people who dont want to head over the bridge and who live in the Simpson Maho Mullet Cupcoy locals.