How many of the proposed properties for sale will be time share and how will the timeshares be structured?

 

We have always emphasized that "timeshares" are not in the plans. We do not intend to develop, own or operate rental housing. However, in the same way as the rest of Salt Spring Island, we do anticipate that some of our purchasers will rent part of their home or their entire home some, or all the time. Of course, they will all have to comply with the same Salt Spring Island regulations or guidelines as any other Island homeowner.

 

That said, we have always acknowledged that "fractional ownership" has been in our plans from the outset. This is not a new concept, nor is it a sneaky way to do timeshares. It simply recognizes that many people are only able to afford a property by purchasing it with others. For example, two married sisters, each with their own families, might decide to buy a home at Channel Ridge for the use of the families at different times of the year. This same extended family may not always be resident and may elect to loan or rent the home out to other family members or friends. This is an acceptable practice on Salt Spring and elsewhere.

 

We have met many people who originally came to Salt Spring for a "season," and over time made it their permanent home, contributing to the community as volunteers, taxpayers and consumers. We anticipate this pattern will prevail on Channel Ridge.