South Cape Resort

South Cape resort on Falmouth Road in Mashpee

An ongoing discussion around the future of timeshares at Southcape Resort and Club has left several longtime owners with uncertainty during what might be the last summer in which they make their annual trip to Mashpee.

Timeshare owners will vote in November on whether to terminate their ownership of 31 units at Southcape, ending 40 years of timesharing in part of the resort.

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(2) comments

Massachu

In my attendance at the meeting when the attorney for Festiva proposed a termination plan, I listened while the attorney outlined her plan for how we should vote and asked a single question as to whether her plan follows current Massachusetts law on timeshare termination. She lawyerly declined to answer my question but rather responded that her plan would follow the Southcape deed (of 1982). My inference is that the Festiva trustees intend to evade current Massachusetts law that effectively grants more protection to owners rights to property. Current law requires a compelling majority to terminate for the common good.

Engelesq

It appears that Festiva, which owns many units at Southcape, manages the place and, apparently, totally controls its board of directors, is offering $4,600,000 to obtain total ownership of 31 Southcape units, or about 50% of the total number on site. Each unit it plans to buy is an attached, good-sized townhouse with a kitchen, two bedrooms, two baths, a large living-dining room, a deck, a fireplace, a washer and dryer, and central AC. Each unit also has access to two swimming pools, one indoor and one outdoor, and to tennis courts, again both indoor and outdoor, all on site and not more than a three-minute walk from any unit. Southcape is even within walking distance of Mashpee Commons. Thus, if one divides $4,600,000 by 31, the number of units Festiva hopes to acquire, it would pay a mere $148,387 per unit which, everyone in Mashpee knows, is a fraction of what it's really worth.

I bet the affordable units that Mashpee plans to build behind Southcase, which lack the access to the pools and tennis courts, would cost appreciably more to build, and would probably sell for more too.

Isn't there anyone in the Mashpee or in the Massachusetts governments, or an experienced local attorney, who is willing and able to do something about this self-dealing situation on behalf of the hundreds of owners of timeshare weeks at Southcape?

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