DVC Receives Timeshare License for Riviera

Only in Florida. They still need approval to sell in other states and provinces.

When I say marketing, I don't mean sales. To sell, they need a firm opening date, if I understand Florida rules correctly (and I might not). But they can start to actively talk about the things on everyone's mind: What kind of units? How many do they sleep? The pool?
 
Maybe they will have some details (room sizes/configurations, amenities) at the December condo association meeting.
 


I thought that in addition to the license they have to have a certain percentage of construction completed prior to marketing.

:earsboy: Bill

 
So, about the same number of units as Poly, which is about twice as many as VGF.

But what kind. They didn't have the restrictions of CCV or even of Poly with shape and size. So it'll be interesting to see configurations.
 


Source: https://dvcnews.com/index.php/resor...receives-timeshare-license-for-riviera-resort

~341 units estimated. A license means they can start marketing.

Let me be picky and say the license is for 341 vacation homes. I know a lot of people use the words 'unit', 'room', and 'villa' interchangeably, but there is a difference.

Only in Florida. They still need approval to sell in other states and provinces.

Correct. When the Polynesian Villas & Bungalows sales started in January 2015, Disney did not have licensing approval in some key jurisdictions, including California and New York. However, I didn't hear of any similar problems when Disney started sales for Copper Creek in March 2017.

When I say marketing, I don't mean sales. To sell, they need a firm opening date, if I understand Florida rules correctly (and I might not). But they can start to actively talk about the things on everyone's mind: What kind of units? How many do they sleep? The pool?

No, I don't think they need a firm opening date. There must be an approved Public Offering Statement and escrow account.

Maybe they will have some details (room sizes/configurations, amenities) at the December condo association meeting.

I certainly hope so. I'll bet that the Riviera Resort is at least mentioned by the Board at the Annual Meeting on December 13, 2018. However, its possible at that date Disney still might not be forthcoming on the details. We'll just have to wait and see.

I thought that in addition to the license they have to have a certain percentage of construction completed prior to marketing.

No, there is no requirement that a certain percentage of construction must be completed.

Prior to offering any timeshare plan, the developer must submit a registered public offering statement to the division for approval. Additionally, the developer must establish an escrow account with an escrow agent for the purpose of protecting the funds of purchasers. Cite: Sections 721.03, 721.07 and 721.08(1), F.S. and Rule 61B-39, F.A.C.

So, about the same number of units as Poly, which is about twice as many as VGF.

DVC resorts should not be compared to one another by the number of vacation homes. The Polynesian has 380 vacation homes, but they consist of 360 dedicated studios and 20 bungalows. Bay Lake Tower has only 281 vacation homes, but it has 14 grand villas and 267 lockoff and dedicated two-bedroom vacation homes. The Riviera will have 341 vacation homes but we still don't know the mix of accommodation types. There are rumors that the Riviera may introduce a brand new "couples" studio that will be different than the typical DVC studio. The bottom line is that we still don't know how large the Riviera will be.
 
I thought that in addition to the license they have to have a certain percentage of construction completed prior to marketing.

:earsboy: Bill
This appears to be an urban myth but in reality you don't want to offer sales until it's set. We have 2 resorts that were announced with renderings that never happened, several that didn't quite get that far and at least 2 resorts that were scaled back or changed dramatically from the original plans.
 
So, looking at the chart on the link above in dvcnews, it looks like Rivera would open in May, 2019...? Correct? Wow! Looking forward to more info
on this resort-Pools/Restaurants/etc...

Wonder what the starting price per point would be?

Those other resorts that they compared it to were remodels of existing buildings. With Riviera being built from the ground up, it should take a bit longer. I would place my bets on it being open by 9/19, just long enough before Star Wars Land opens to work out any possible kinks with the gondolas.
 
So, looking at the chart on the link above in dvcnews, it looks like Rivera would open in May, 2019...? Correct? Wow! Looking forward to more info
on this resort-Pools/Restaurants/etc...

Wonder what the starting price per point would be?

From what I've heard, they haven't even topped off the structure yet, so I don't think that would be possible.
 
This sets them up to say more about the booking units available, show interior design images, etc., and also sets them up to sell at whatever point in time CCV is a declining proposition for them. I don't think this means Riviera is on schedule to open (butt in bed) early.
 
You do not legally need a known opening date to start selling or even have the construction anywhere near completion. Nevertheless, there are requirements that make it impracticable for a developer to start selling too early. You need the timeshare declarations completed and filed and those need to contain a lot of information about the resort and rooms, much of which information is not really available until you are somewhat close to completion. Also, if you are going to sell contracts, you are prohibited from selling an initial use year that could end before the rooms are actually open and usable. Thus, the developer needs to be fairly certain about the probable opening time because if the first use year sold ends before opening, any such contracts are voidable by the purchasers. The same right to void the purchase exists if the finished condominium varies to any material extent from what is in the declarations.

The longest lead time DVD adopted for initial sales was BLT, which went on sale in Sep 2008 but did not open until August 2009. For other modern resorts, the time between first sales and openings has been between two and five months. I doubt DVD will vary from one of those shorter times for Riviera.

In early announcements, DVD projected opening as sometime in Fall 2019. From what I have seen of construction, that is a more probable time than anything before, such as May. If that completion time holds, there is some possibility sales could begin as early as May. The declarations are likely to be filed about a month before sales begin and details about the actual room sizes and numbers of each type of room is not likely to be provided before the declarations are filed.
 
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So, looking at the chart on the link above in dvcnews, it looks like Rivera would open in May, 2019...? Correct? Wow! Looking forward to more info
on this resort-Pools/Restaurants/etc...

Wonder what the starting price per point would be?

You must be adding the number of days show in the chart on the link above to estimate your May 2019 date. I think that is a little optimistic since the building is so large and has a lot to be done just on the exterior let alone the interior. I wouldn't be surprised if a fall opening date might be possible, but I would be just guessing based on how fast they built VGF, but that is a smaller building than the Riviera.

From what I've heard, they haven't even topped off the structure yet, so I don't think that would be possible.

I expect based on these aerial photos from about July 18, 2018 that it will be very soon on the topping off ceremony. https://www.wdwmagic.com/resorts/di...ey-riviera-resort-construction-near-epcot.htm
 
Those other resorts that they compared it to were remodels of existing buildings. With Riviera being built from the ground up, it should take a bit longer. I would place my bets on it being open by 9/19, just long enough before Star Wars Land opens to work out any possible kinks with the gondolas.

Not so sure about that. According to dvcnews, CCV is selling a lot, and 66% of declared, which means only 33% left to declare. (Well, give or take 3-5%).
They have to declare 3% to leave open..So, I don't think it is going to be September, 2019...
I think CCV will sell out in Spring, 2019. Don't think DVC would go from Spring 2019 to Fall 2019 with nothing at WDW to sell... Just my .02 cents..
 
Not so sure about that. According to dvcnews, CCV is selling a lot, and 66% of declared, which means only 33% left to declare. (Well, give or take 3-5%).
They have to declare 3% to leave open..So, I don't think it is going to be September, 2019...
I think CCV will sell out in Spring, 2019. Don't think DVC would go from Spring 2019 to Fall 2019 with nothing at WDW to sell... Just my .02 cents..

They can sell without the resort being open for booking.
 
They can sell without the resort being open for booking.

Right, based on Drusba's post discussing BLT, Rivera sales could start this October if they expect to open in September. I doubt it will be that soon, though. More likely Feb-March for members, and then April on for new buyers.
 

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