Wyndham sells some Glade land holdings, realty business
By KEITH WALTHER
Vista Publisher/Editor
For The Vista
The buzz around Fairfield Glade in the past week or two turned out to have some sting to it.
Rumors circulating that Wyndham Resorts had sold some of its Fairfield Glade land holdings and entities to a New Jersey-based company.
Late last week, clarification came when Wyndham Media Relations sent The Vista a press release announcing the transactions. The release answers some questions that quickly come to mind — but the company’s future plans for the land purchased is not known.
In a statement, Wyndham announced the transaction with FGH Land Tennessee, LLC, saying, “Recently, the decision was made to divest this portion of the business and a search began to identify a buyer”
A buyer was found and deeds were signed to “an entity with an independent owner,” said the Wyndham release. The Vista has learned that the new owner is reportedly Thomas J. Anderson — who has served as Chief Real Estate Officer for Wyndham Wordwide from June 2006 until now.
According to Wyndham, this is what has been sold:
• The Fairfield North subdivision lots that were still deeded in Wyndham’s ownership.
• The undeveloped land in the Fairfield North area of Fairfield Glade.
• The undeveloped land surrounding Mirror Lake.
•The undeveloped land surrounding the Fire & Security building.
• The Fairfield Homes & Glade Realty businesses.
It was noted that, with the exception of those properties listed above, Wyndham will retain ownership of the lots it previously owned prior to this sale.
Wyndham says they will continue its resort operations here in Fairfield Glade, managed several timeshare associations and a timeshare sales operation.
Who is the new owner of the properties and what are their plans? Wyndham said that the Fairfield Glade Community Club Board “has been n communication with the new owner about future development on the land. All future plans are at the discretion of the Board and the buyer.”
While that doesn’t give a hint as to what plans may be in the works, Glade Board President Bob Diller said didn’t know until May 17th of the deal.
“The Board of Directors became aware of the above information on May 17, 2017,” Diller said in a statement. “ As requested by the new Developer and Wyndham representatives, and as a courtesy to them, the Board of Directors did not share any of this information until such time that the appropriate information could be prepared and distributed by them.
“The Board had a brief introduction to the new Developer but did not have any detailed discussions with him,” Diller added. “Those discussions will happen at a later date.”
Reached by The Vista last Friday evening, Diller stood behind that statement and added that he looks forward to learning more of Anderson’s plans.
“I have heard he will want to work toward the betterment of Fairfield Glade and its residents and we will likely be meeting with him in a couple weeks. I look forward to hearing what he has to say.”
Wyndham will continue to manage the realty business for the buyer through the end of the year.
“This gives the buyer adequate time to establish the infrastructure to support the staff as well as the operations of Fairfield Homes,” Wyndham Media Relations noted. “It will also allow seamless continuation of operations with minimal disruption to the community. Wyndham strives to ensure that Fairfield Glade continues to be a wonderful place to live and vacation, and remains committed to its continued growth and longstanding success.”
Wyndham also said that Declarant’s rights are being “transitioned to the new owner “
Declarant rights are reserved in the recorded Declaration for a planned community or condominium and are part of the contract among the lot or unit owners, the owners association, and the Declarant.
The developer of real property is generally free to restrict that real property however it sees fit.
How Anderson, who could not be reached for comment, and his company “sees fit” remains to be seen.