SUBSCRIBE NOW

Enjoy all your local news and sports for less than 5¢ per day.

Subscribe Now

Marble Falls condo development morphs into timeshare project

A developer is expected to breathe new life into the Villa dal Lago project on FM 2147 in Marble Falls by converting the privately owned condo units into timeshare units. File photo

CONNIE SWINNEY • PICAYUNE STAFF

MARBLE FALLS — Wyndham Worldwide Corp. will attempt to revitalize a failed private condominium development on FM 2147 West, after the City of Marble Falls approves re-zoning the property to accommodate a timeshare project, officials said.

“Before it was a multi-family development. Now, we’re talking about it being a timeshare,” Marble Falls City Manager Mike Hodge said of the Villa dal Lago condominiums. “There’s also some waterfront that’s being proposed as part of the project, which is new and wasn’t part of it before.”

The multimillion-dollar private condominium development adjacent Lake Marble Falls has sat primarily empty after 2004 because of foreclosure and a lack of money at the time. Crews halted the project after constructing two of six proposed complexes planned in a stair-step configuration down the side of a rocky hillside.

Investors recently sought Wyndham Worldwide Corp. to rekindle the development, officials said.

“It’s more intermittent living. It’s more of a hotel type of environment to where people come and stay for short periods of time,” Hodge said. “You’ll see a variety of guests as opposed to a single owner of a unit.”

According to its website, Wyndham Worldwide Corp. has thousands of motels, hotels, resorts, timeshares and condominium developments around the world, with an emphasis in 2014 on new developments in the Middle East, India, Latin America, Asia and Europe.

“The prior project was very contentious. There was a lot of opposition,” Hodge said. “It looks like (Wyndham Worldwide has) gotten out and did their homework with the adjacent property owners. That’s always a good sign.”

The previous proposal involved 64 units, which developers have increased to 96 proposed units in additional complexes, officials said.

“The initial phases are going to focus up on the hill. The waterfront property is a later phase,” Hodge said. “Right now, they’re talking about leaving that open in order to preserve the view.”

Marble Falls City Council approved re-zoning the property Jan. 6 for the planned development. The permitting process is under way, Hodge said.

“You’ve got a nationally recognized company like Wyndham moving in to take on the project,” he said. “For us, that’s a good indication it’s going to move forward and be successful.”

connie@thepicayune.com

1 thought on “Marble Falls condo development morphs into timeshare project

  1. What is the price of the units and is the interval for 1 week?

Comments are closed.

DailyTrib.com moderates all comments. Comments with profanity, violent or discriminatory language, defamatory statements, or threats will not be allowed. The opinions and views expressed here are those of the person commenting and do not necessarily reflect the official position of DailyTrib.com or Victory Media Marketing.