See Forever Update, June 2024
See Forever Owners:
The weather in Telluride is feeling like summer. Day temps in the low 70's, and still snow capped mountains. It is a really pretty time to be at our mountain homes.
I started penning this update last week with nothing but positive updates. Unfortunately, on Friday afternoon we were informed of a significant issue that the Board needs to make you aware of.
1. Roof and Stain and Chink update - An Issue
Stain and Chink is proceeding well. Wilson and Sophia buildings are largely completed with touch up work being done. Cabins are next, but everything is on track for early July completion for Stain and chinking.
WE HAVE AN ISSUE ON THE MT WILSON ROOF. I am attaching Dan Cupid's report (our roofing consultant), but the bottom line is that the Mt Wilson roof was installed improperly, it is buckling and structurally deficient, and it appears that we will need to replace the entire roof, not just switch from Wood Shake to Metal. This is a construction issue from 18 years ago and it is hugely disappointing given that the Sophia roof was properly designed and installed, and the Town of Mountain Village originally inspected and approved the Wilson roof. How this happened between the developer, roofer, and Town inspection is unclear, but frankly irrelevant at this time. The HOA board met with our roof expert Saturday to get a better understanding of the issue, and the reality is the current Wilson roof is unsafe and we need to replace it. The roof consultant that we have been using said he has only seen this issue one other time in hundreds of engagements, so again, it is extremely disappointing.
This is an emergency situation, as we need the roof in place before serious winter weather sets in. We are working to get structural engineers on site this Thursday and get a better idea of our options, costs, etc. We intend to have an owners meeting the week of June 23 once we have a firm understanding of the path forward, timing, cost impact, etc. Meeting notice will be forwarded as soon as we have the necessary information to communicate.
This is hugely disappointing. Delton, Horn Brothers roofers, Dan Cupit our consultant, and everyone associated with this project have done a very good job ensuring we are on timeline and tracking to budget. We now have this major issue that completely wrecks the timeline and budget, and that none of us had any idea was looming. This is not the news I had intended to write, but we will always provide prompt communications of any issues affecting our owners.
Despite that, a couple of positives:
2. Four Seasons marketing. There is now a Four Seasons logo on the hill by the gondola, and they are actively marketing their property . The prices are extremely high, which is potentially good news for all of us, as our location and views are truly unique. With 1 Bedroom condos at the Four Seasons being listed for $4MM, this is a positive for us, but it does reinforce the importance of maintaining our property at the luxury level. We are doing that with maintenance actions such as the stain and chink and roof replacement projects, but we will continue to invest in maintaining and upgrading our property and services. The luxury bar is being raised, but See Forever is very well positioned to benefit from this competition so long we we continue to invest. Below is the marketing material for Four Seasons residences.
3. Owners Happy Hour. Pencil in July 3rd for our summer Owner's get together. Details will follow in upcoming weeks, but it is always fun to get us together for some beverages, food, and great conversations. Here is the local beer that we will be serving!
We look forward to seeing everyone back in town this summer. We will have our special owners meeting in the next two weeks, and we just have to deal with this really unfortunate issue. We hope to see everyone in person early July. Travel safety, and hope to see you on July 3rd!
Bill