Riding stables, tennis courts, boat slips—the recreational facilities at some communities are downright dazzling. At New Seabury on Cape Cod, seemingly endless stretches of beach, ponds and peninsulas are supplemented with restaurants, lodging, pool and fitness centers, a marina and cabana club—never mind two 18 hole golf courses. If piloting your own Cessna is your passion, there’s the Falmouth AirPark subdivision, also on Cape Cod, where homeowners share their own landing strip.
Prefer winter activities? A community under construction at Loon Mountain Ski Resort in New Hampshire will feature new ski lifts that load right in the residents’ common area. Even at the new urban Falls at Arden Mills, with 204 units planned in Fitchburg, Massachusetts, a clubhouse/fitness center with indoor pool—for year-round fun—was recently unveiled.
Residents who enjoy these amenities as part of their ownership may want to reserve or rent them for their own private events, whether it’s a wedding or a sales meeting.
Should a community’s recreational facilities be available to residents only? And if there’s a demand, what about offering these facilities to the general public, as a possible source of revenue?
Whether a community cashes in—or cashes out—seems to depend on the size of a development, the types of amenities and how they are delineated from the project’s beginning. When condo developers promote boat basinsand ski lifts as homeowner perks, they’re probably operated outside the control of a homeowners’ association.