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Timeshare Firm Partners with Wisconsin Resort

WISCONSIN DELLS, WI-Florida-based Bluegreen Corp. plans to construct and market 76 new and 24 rehabbed timeshare units that will be part of the Treasure Island Water and Theme Park Resort.

By Danielle Anderson | Updated on November 28, 2006

(To read more on the multifamily market, click here.)

WISCONSIN DELLS, WI-Bluegreen Corp., a Florida-based timeshare owner and developer, plans to expand its presence in this popular, south-central Wisconsin tourist area. To that end, the company recently purchased 7 acres adjacent to the Treasure Island Water and Theme Park Resort and acquired 24 unsold units in the property. In conjunction with the acquisitions, Bluegreen established a marketing partnership with Treasure Island LLC, the resort owner and operator, and acquired property management rights to the existing timeshare units.

On the 7-acre parcel adjacent to Treasure Island, Bluegreen plans to develop two four-story buildings with a total of 76 units. One of the buildings will contain 24 two- to three-bedroom units, while the other will house 52 units. The project, which also includes amenities and a check-in facility, will be delivered in phases between 2008 and 2009. In addition, Bluegreen plans to begin renovating the 24 existing units during the fourth quarter. Plans call for converting all of the timeshares to full two-bedroom units, the addition of a second bath, new kitchens and finish upgrades. Company officials say those units should be ready for occupancy by the third quarter of 2007.

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