D1 SATURDAY ON SA4 A GUIDE TO VACATION …Product:STARDate:07-21-2007Desk:...

$: D1 SATURDAY ON SA4 A GUIDE TO VACATION …Product:STARDate:07-21-2007Desk: SPC-0005-CMYK/16-07-07/20:16:36 D5 SATURDAY ON SA4 COMPOSITECMYK!SA4 210707ON D 005Q! a Shared or fractional$
Product:STAR Date:07-21-2007Desk: SPC-0001-CMYK/16-07-07/20:14:43

COMPOSITECMYKD1 SATURDAY ON SA4!SA4 210707ON D 001Q!

A Toronto Star Advertising Section ADVERTISING SUPPLEMENT TO THE NEWSPAPER SATURDAY, JULY 21, 2007

1st of TWO1st of TWOSpecial FeaturesSpecial Features

NEXT ISSUE:NEXT ISSUE:August 18August 18

www.thestar.com/fractionalproperties

Fractional PropertiesA G U I D E T O V A C A T I O N O W N E R S H I P

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2 Saturday, July 21, 2007A Toronto Star Advertising Section

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3Saturday, July 21, 2007A Toronto Star Advertising Section

Respect for the true cottage experience and thelandscape fuels Marcus Beach success.

don’t hesitate to ask about limited re-sale opportunities at the three otherChandler Point fractional cottagecommunities.

Resale prices range from the mid$50,000’s to just over $80,000 for atenth share or five weeks at the cottageevery year – one week in each season,plus an additional week. For moreinformation about Marcus Beach orChandler Point Corporation’s resaleopportunities, please call 1-888-456-4788 or visit www.chandlerpoint.com.

understanding that we must all sharein the enjoyment – and maintenance– of this beautiful area”, says Puffer.

Judging by the happy faces of buyersat a recent Grand Opening celebrationfeaturing Weber’s BBQ burgers andcold refreshments, Marcus Beach hashit the sweet spot. Some new ownershad moved in, while others got a firstglimpse of their brand new cottage.

If this sounds like your idea of a cot-tage experience, it’s not too late to hopon-board. There are a few choice spotsleft at Marcus Beach. If they’re gone,

“The vast majority of people in On-tario want an authentic cottage experi-ence and we have been able to providethem with it. These are true cottageswith significant privacy and they areright on the lake.”

Speaking of lakefront, Marcus Beachhas lots of it. There’s over 4,000 feetof shoreline, with each cottage pos-itioned literally a stone’s throw awayfrom the lake. The resulting low dens-ity translates into sensitivity to theenvironment. “Our concept shows re-spect for other cottagers in the area,

The Canadian Shield is eons old,changing little since the dawn of time.Yet in the last ten years, its real estatelandscape has changed dramatically.Spurred on by baby boomers withdreams of having their own slice ofparadise, many cottage developmentshave appeared but none like thosebuilt by Chandler Point Corporation.Chandler Point Corporation, the pi-oneer of shared or fractional cottageownership, has a steadfast respect forboth the spirit of cottaging and theland itself.

Although there are now many varia-tions of fractional ownership, Chand-ler Point Corporation’s latest endeav-our named Marcus Beach, remainsloyal to the original vision createdback in 1998 – private individual lake-front cottages.

Located on Lake Kashagawigamogin Haliburton, Marcus Beach featuresonly 19 cottages gently introducedto the 39-acre property. John Puffer,Chandler Point’s President, readily ad-mits the property could fit many morecottages, but he and his Partner JoeGiglio have refused to give in to thetemptation.

Inspired by their own experience orjust plain common sense, their visionis paying off. Marcus Beach has beenanother overwhelming success forChandler Point and Puffer estimatesthat it will be sold-out before the endof this summer – just about one yearafter these cottages came to market.

“To me, our success at Marcus Beachis really no secret”, reveals Puffer.

Cottage community on LakeKashagawigamog strikes theright chord for city dwellersseeking an authentic cottageexperience.

“To me, our success at Marcus Beach is really no secret”, reveals Chandler Point Corporation’s President JohnPuffer. “The vast majority of people in Ontario want an authentic cottage experience and we provide them with it”.

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expense that come along with keeping up acottage or other vacation-type home. Theyno sooner arrive during their well-earnedholiday time, than the dock needs repairing,or the exterior needs painting, or any othernumber of chores pop up. The beauty of frac-tional or shared ownership is that they cantruly relax and enjoy every minute of theirvacations.

In addition, most vacation home ownersfind their investment sits empty most of theyear, and the idea of paying an amount pro-portionate to use is appealing. Hardly any-one takes an entire summer, or even a monthanymore to spend at a vacation property. Infact, two weeks is becoming a rare luxury intoday’s fast-paced world. It’s difficult to justi-fy owning a vacation home outright whenthe return-on-investment is so slim, andthose who do often feel tied to that property

as their only feasible holiday option. Equally as important to people who opt

for shared ownership is the fact that they canwill their fraction to their children andgrandchildren –which keeps the vacationhome tradition alive in their families for gen-erations to come. This is important to manypeople who grew up with the experience.They see their adult children working hard attheir careers, and understand that they, too,find the concept of spending their preciouslittle holiday time having to look after leak-ing roofs and snow loads unappealing.Seasoned cottagers can sell their vacationproperty, buy into a fractional ownershipand pocket the rest of the money for use onother luxury items and trips.

Another reason for pursuing fractionalownership of vacation real estate is the pas-sion to spend one’s holidays engaging in a

particular sport such as skiing. Owning achalet in a prime ski area is phenomenallyexpensive today. Shared ownership brings itinto the realm of affordability and offersavid skiers the peace of mind of havingpermanent accommodations availablefor their scheduled vacations.

Shared and fractional ownership resortsand residences are the choice of many savvyvacationers. These properties are available toa broader range of purchasers than everbefore, and the increased visitor traffic theybring helps to boost the economies of thetowns they’re located in. When it comes tofractional ownership, it’s all good.

Ann Lawlor is a real estate marketing pro-fessional at Lawlor & Company Marketing &Communications Inc. Visit www.lawlor.com

Diverse group attracted to shared ownershipBy Ann Lawlor

One of the fastest-growing segments

of the tourism industry isthe shared, or fractional, ownership of vacation properties. Two phenomenahave created this trend: theskyrocketing costs of realestate on lakes or close togolf courses, ski hills andother recreational landmarks;and the frantic pace of lifethat has resulted in peoplehaving much less leisuretime to enjoy their resort-style holidays.

What’s remarkable is the demographics ofthose who are choosing fractional ownershipas the perfect solution to their vacationdreams. From busy professionals to growingfamilies, empty-nesters and retirees, themotivations may differ but the result is thesame – memorable, carefree vacations for afraction of the cost of sole ownership.

Buying a cottage, chalet or other vacationproperty in Ontario today is simply out ofthe financial reach of many individuals andfamilies. Fractional ownership offers anaffordable alternative that often brings withit the added benefit of having deep cleaning,maintenance and repairs handled. In addi-tion to being able to afford to stay in a moreluxurious vacation home, fractional ownerspay for only the time they actually use it.

Many current vacation property ownersare selling their second homes and opting forshared ownership for a variety of reasons.The first is that they’re weary of the work and

© 2007 Resorts Muskoka. Only two hours from Toronto via Highways 400 and 11, The Muskokan’s Presentation Centre is located 5 km from Port Carling's town centre on Muskoka Highway 118.

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The Muskokan Resort Clubon Lake Joseph is an affordableway to own a luxurious vacationhome on the most sought after

lake in Muskoka.

“We wanted to let you know howhappy we are with our investmentin the Muskokan. I used the exerciseroom overlooking Lake Joseph, whileBarbara had a massage, facial andmanicure and thoroughly enjoyedherself. I went golfing, swimming,relaxed at the water then sat on thedock and watched the perfect sunset”

Ed and Barbara Friedman

“You have shown great sensitivitywith your placement of the buildingson the property leaving much of thecottage feeling. The design is topquality as are the interior finishings”

Barb Mann

“I love the Muskokan and all thebenefits that go with it”

Christie Sterns

“Our hope was to feel at home andyou could not have delivered betterthan you did”

Fernando Perrella

“The M Club will be great for kids.Great job!”

Joe Catanzano

“We thoroughly enjoyed our first stayat the Muskokan. The furnishingsand equipment are first rate.”

The Prouts

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a

Shared or fractional ownership is about own-ing a piece of paradise you might not other-wise be able to afford – but of course, every-one’s idea of paradise is different. Fortunatelyin Ontario, there are fractional and sharedvacation property ownership opportunitiesthat can satisfy the holiday dreams of adiverse segment of the population. Fromtraditional lakeside cottages to inviting villasand million-dollar estate residences, theselection is eclectic and interesting. Theproperties may be situated in a resort com-munity, or you may find individual homesfractionalized for shared ownership.

Want to spend your holiday time on ornear water? Lakeside fractional and sharedownership properties span the gamut fromlodge suites with fresh-air balconies, tolinked townhomes, sun-filled villas andfabulous standalone cottages. Ranch-style,loft-style, post-and-beam, beach house,charming Cape Cod and many other archi-tectural styles dot the fractional ownershiplakeside landscape. Some homes are clus-tered around a lodge or clubhouse; others arecocooned in wooded surroundings thatpamper owners with private beachfront.Your particular ownership share may includedocks, sailboats, windsurfers and other

watercraft for your holiday enjoyment. Whether you choose an individual prop-

erty, a resort or a more traditional cottagewith several bedrooms, you can spend yourtime pursuing leisurely activities rather thantaking care of maintenance, cleaning,upkeep and repairs. Resorts and individualcottages grace many different settings inOntario’s vacation land, where you can liter-ally step out your door onto warm sands or a picturesque hiking trail and breathein refreshing lake air. And all without havingto take on the full expense of purchasing in an ever-more-expensive recreational realestate market.

Do you prefer to surf snowy slopes?Shared ownership of winterized chalet-styleproperties can make your fantasy ski vaca-tions each year a reality by making luxuryaccommodations in ski country affordable.Or does the thought of teeing up for a greatgame of golf in scenic surroundings tickleyour vacation fancy? Many of Ontario’sshared ownership properties are either adja-cent to or near championship courses.Hiking and biking trails, wellness spas, a cen-tral lodge with a stone fireplace for minglingwith like-minded vacationers – all this andmore can be yours when you choose one of

What’s your pleasure in a vacation property By Michael Stevens

these this innovative forms of ownership.Some prefer to revel in their million-

dollar lifestyle in a million-dollar cottage orluxury estate home – and that’s a possibilityas well. Expecting the ultimate in pampering,these owners want it all, including privacy,prestige, exquisite furnishings and excep-tional design.

Vacation property fractional and sharedownership opportunities in Ontario todayare outstanding, and there is truly some-thing to please everyone. One site to take alook at is www.fractions.ca. Whetherthe exteriors are crafted from logs, plank,

maintenance-free clapboard-style siding orcedar, these holiday homes beckon withrelaxation. Best of all, you can head toyour vacation property without having toworry whether you left the garlic pressthere or you need to bring clean sheets.Everything is provided so that from themoment you cross the threshold to youraccommodations, you’re in vacation mode.

It’s easy to understand why more individ-uals and families are choosing to share theexpenses of buying and maintaining a vaca-tion property. More middle-class Canadianscan afford to dip into the lifestyle formerlyreserved for the rich and/or famous. Theycan trade weeks with co-owners or lend timeto their friends and family – offering flexibil-ity that adds yet another level of appeal.

Vacations should be a time of renewal, ofrejuvenation in a world-gone-mad withdeadlines and responsibilities. With frac-tional and shared ownership, you can spendyour time building memories instead ofretaining walls. Through this innovativeconcept, you can own a piece of your per-sonal vision of paradise.

Michael Stevens is the webmaster forfractions.ca.


Huntsville, Ontario – Toweringtrees. Sunny Muskoka rooms.Private detached cottages.

In keeping with consumer demandfor a more authentic cottageexperience, Blue Water AcresResort developers have launchedan affordable fractional ownershipresort in Muskoka.

With a starting price of $29,900for a five week interval, Blue WaterAcres’ pricing structure contrastssharply with most other fractionalownership resorts in the Ontariomarketplace, where five weekinterval prices begin between$60,000 and $120,000.

Developer Bill Van Gelder is quickto point out that low cost doesn’tmean a cheap product. “We’re ableto develop a low cost alternativebecause we have our ownconstruction division that iscompletely rebuilding our existingcottages. Due to the fact that resortfacilities already exist, we also didn’tencounter the high developmentcosts that other projects are facedwith. And we scrutinize every projectcost in an effort to keep thepurchase price low for ourcustomers.”

Van Gelder emphasizes that thecottages have the amenities thatprospective cottage buyers areseeking, such as full equippedkitchens, large sundecks, screenedMuskoka rooms and even flatpanel televisions in the living roomand master bedroom.

“We are including quality featuressuch as leather sofas and chairsdesigned for relaxation, and rusticheritage style furnishings thatfeature Canadiana craftsmanship.

We have designed a product thatcustomers have been asking for -a comfortable cottage that allowsthem to enjoy the Muskokaexperience, not a cottage thatfeels like their home in the citymoved to cottage country.”

Blue Water Acres Resort offers thatMuskoka experience, with afamily-friendly sand beach on Lakeof Bays, acres of forestedrecreation trails and closeproximity to the west gate ofAlgonquin Park. Every one of the44 cottages is detached, incomparison to several otherprojects in Ontario that featurelow-rise condo style andtownhouse buildings.

Buyers also like the perpetuityownership feature. It allows ownersto entitle their share to futuregenerations, sell their share, orgive their shares away. Familymembers and friends can evenvacation in the owners’ place.Exchange resort programs alsoallow owners to stay at theirchoice of 1500 resorts in 75countries.

The intervals are selling quickly atBlue Water Acres. Almost 50% ofphase one, which was launched inlate May, has already sold out.The project is also attractinginternational attention. The GreatTaste program, an innovative andeducational TV series, will featureBlue Water Acres on an upcomingepisode titled “FractionalOwnership” as part of its LuxuryLiving series.

For more information visitwww.bluewater-star.com or call1-866.396.BLUE.

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The term “shared ownership,” sometimes

referred to as “fractionalownership,” is becoming ahousehold phrase as theconcept catapults into the21st century.

With prices skyrocketing, and a hectic workpace cutting leisure time to a minimum, theidea of sharing the cost and use of luxuryitems makes sense. And that’s what thistype of ownership is – asset-sharing thatenables purchasers to enjoy items theymight not be able to otherwise afford, for amore realistic amount of time than soleownership offers.

It started years ago with the sharing ofjets, and creative-thinkers have jumped onthe shared/fractional bandwagon for otherexpensive items such as jewelry. Thinkabout it – how many times each year will awoman wear a $40,000 necklace? There areeven asset-sharing handbag clubs for thosewho want to carry Luis Vuitton and Pradawithout carrying steep credit card chargesto do so. Through www.shouldercandy.comyou can “own” a $600.00 Marc Jacobschocolate leather satchel for $ 65.00 forthe first week and $25.00 for every weekafter that.

People are enjoying shared ownership ofeverything from race horses to yachts, art-work, vineyards, helicopters and Ferraris –items that might otherwise be under-utilizedassets. If you want to impress, purchasing ashare of an 1887 Van Gogh on canvas from

www.theartflex.com might be just thething. Or maybe a share of a Monaco Dynastymotorhome from www.coachshare.com(starting at $135,000 per share) would winyour family’s undying love. If you prefercruising on water to the highway, checkout www.aboardtheworld.com andwww.yachtshare.com.

One of my favourites is The Number OnePig Consortium (www.numberonepig.co.uk),which offers shared ownership of England’s“very best, rare breed, free-range pigs.” Atmaturity, your portion of the pig is deliv-ered to your door so you can add it to yourbest pork recipes. Whatever your desire,chances are that someone, somewhere, istrying to find a group of people who want toshare in the ownership of something noneof them can afford, or want to own alone.

The concept of shared or fractional own-ership has also taken a prominent place inthe world of vacation property. In 2006,fractional real estate reached $1.65 billionin sales for the U.S., Canada and theCaribbean – an increase of more than 30per cent from 2005. Recently, HarvardUniversity reported that the popularity ofsecond-home ownership is on the increase,with members of the middle class opting toenjoy this lifestyle for several weeks eachyear through shared rights to a luxuriousproperty. This emerging trend is alive andwell in Ontario, where the concept of sec-

ond-home ownership is practically bred inthe bone of generations of cottage owners.

Entering the four-season vacation homemarket is out of the financial reach of a sub-stantial portion of today’s potential pur-chasers. Plus, many owners of recreationalproperties find they are spending less andless time enjoying this costly asset they payfor year round. Sharing ownership offers anaffordable, logical alternative for bothgroups.

Fractional or shared ownership of a vaca-tion property offers a great advantage overtime-sharing; namely, that fractional own-ers own equity in the property, and can sell,will or gift their share. Other benefitsinclude an affordable initial cost, whichmeans vacationers can indulge in accom-modations they might not otherwise beable to consider. This may be anythingfrom golf communities with five-star hotel-style amenities, to ski chalets and cottagesnestled into breathtaking surroundings.

Usually in a shared ownership relation-ship, co-owners pay annual fees and forman association to handle maintenance,cleaning, upkeep and repairs on the property- meaning their vacation is truly a holiday,without things like dock repairs and clean-ing eating into their precious time.Typically, everything is shared, includingfurnishings, recreational facilities, docksand boats. And unlike many second homes,

which are furnished with garage-sale hand-me-downs, fractional ownership propertiestend to encompass high quality appoint-ments, appliances and fixtures.

Recent statistics indicate that vacationhome owners use their properties only asmall percentage of each year. Shared own-ership allows people to enjoy their vacationresidences for all of their holiday time, or tochoose to do something different occasion-ally without feeling guilty because of a largeinvestment in a traditional second home.With vacation properties in Ontario risingin value, the idea of owning part of one ofthese equity-building residences is tempt-ing an increasing number of purchasers.Shared ownership of a vacation propertyallows owners to revel in a luxuriouslifestyle, pay only for the time they use it,and replace working with playing. And isn’tthat what vacations are all about?

Some companies even offer shared own-ership of exotic sports cars like a FerrariTestarossa or an Austin Healey - just thething to drive to your new vacation homewhere you can hang your fractional art-work, wear your fractional jewelry andcarry your fractional handbag!

Kim Sopinka is the general manager offractions.ca. For a listing of vacation propertyfractional and shared ownership opportuni-ties in Ontario, visit www.fractions.ca

Luxury at a fraction of the costBy Kim Sopinka


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You’ve checked out the vacationproperty opportunities in Ontario,chosen the perfect location and

decided that through fractional, or shared,ownership you can enjoy much more luxu-rious surroundings than you could if youpurchased a vacation home outright. You’redreaming about the lake, or ski hill, or golfclub that will make your precious holidaytime a memorable experience – and you’reready to sign on the fractional dotted line.But what exactly are you buying? It’s agood question, and one that has manyanswers. Since the word “fractional” is notdefined by real estate law, the nature ofthe term “fractional ownership” is deter-mined by the agreement.

Generally speaking, in Ontario there arethree possible scenarios that involve sharedownership. The first is fractional ownershipof titled condominium units, which meansthe owners’ names are on the title. “Like adowntown condo, the purchasers in thisscenario own the unit as tenants-in com-mon - everything from the paint in, andthey have the right to use the common ele-ments,” says Muskoka-based lawyer andresort development consultant TomPinckard. “Owners can sell their interest inthe unit, or will it to family or friends.”

According to commercial real estatelawyer Les Mason, “The condominium con-cept is the only way to give titled owner-ship to the purchasers. But to the generalpublic, the condo is more of a ‘city’ con-cept. In the vacation property market, it’smuch more common that shared owner-ship involves becoming a member of a not-for-profit association whose members collectivelyown the assets through that organization.It’s like belonging to an equity golf club.”

If the vacation property is zoned residen-tial, the condominium concept is a possibil-ity. If it is tourist/commercial, the secondscenario of having owners belong to a non-profit corporation that owns the property isthe alternative. Gloria Collinson, presidentof the Canadian Resort DevelopmentAssociation, has been involved with themarketing of fractional ownership proper-ties since they were first implemented inOntario. “Usually in a cottage situation,”

What do fractional owners own?By Myles Lawlor

she says, “there are 10 owners per cottagewho each use the property for five-weekintervals. If there are 10 cottages on theproperty, there would be 100 owners whoeach own part of the whole. Fractions canbe any size, but one-tenth is common.”

Pinckard says that one-twelfth fractionsare also catching on. “With one-twelfthshares of one four-week period each, it’ssimpler. Two of the remaining four weeksare used for cleaning, maintenance andrepairs, and the other two weeks aroundChristmas and New Year’s are available forpurchase separately. This gives developersand purchasers flexibility.”

The third form of shared ownership is ahybrid of the first two. In this scenario, theowners do not have exclusive use of thecommon amenities, which are also enjoyedby typical resort clients. The fractionalaspect is a component of the resort.

“The generic term for what fractional orshared ownership purchasers are doing istime-sharing,” Mason says. “They buy afraction of the time the vacation property isused. The big difference is that these pur-chasers collectively own the property, not

the developer as in a traditional time-sharearrangement.”

Whichever form of shared ownershippeople choose, they benefit from consumerprotection. In the case of the condominiumsituation, owners are covered by theCondominium Act. In the second model,the new Consumer Protection Act takesprecedence. “This level of standardsimposed on developers in terms of disclo-sure and performance works to the benefit

everyone involved, “Pinckard says. The scope of vacation properties avail-

able in Ontario is remarkable. In the end,the form of ownership is secondary to theenjoyment people get from tapping into amore extravagant vacation experience thanthey would ordinarily be able to afford.

Myles Lawlor is a real estate marketingconsu l tant who can be reached a tlawlor.com.


http://www.inaskishores.com




http://www.thelandscapes.ca

http://www.georgianbaybeachclub.com

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