What happened?

What's the difference between timeshare and condo ownership?  Rotarian BJ gave her take on the future of Pond Bay, explaining that timeshare or 'interval ownership' isn't always the best thing for a community.  Think of a fifty unit property.  Not unlike Gallows Point (60 units).  You can have fifty owners, who each have a stake not just in their apartment or villa, but also in their neighborhood and their island.  Or you can have six hundred owners of one month each, or TWENTY-FIVE HUNDRED owners of a week each.  The owners of a week or a month, don't spend enough time on St. John to become truly engaged and therefore don't end up becoming involved in our island and its issues and needs.  They come, they go.  They love it here, but they don't really participate.  Typically, timeshare owners are entry level real estate investors and so might be more likely to eat in, and won't be our typical purchasers of high end products in town.  Condo owners are more likely to frequent restaurants and buy items of art and jewelry, which keep our economy going.  So we can hope that the new owners of Pond Bay do what is best for St. John, and we keep our fingers crossed that as the Westin converts to 100% timeshare, some of those people will buy homes!