Basic Renovation and New Facility Plans

Transcription

1 Basic Renovation and New Facility Plans Photo: Hawkins Productions - Coronado Shores In August, you will be asked to approve an assessment to fund badly-needed renovation and improvements of common-area facilities to enhance our community. This prospectus summarizes the proposed renovation and improvements. Please read it carefully.

2 Executive Summary The Coronado Shores Landscaping and Recreational Committee, working with engineers, planners and architects, has carefully assessed the condition of existing common-area facilities and developed plans for renovation and improvements. In February, these plans were presented at a series of workshops for directors from each of the Associations. This prospectus describes the key elements and costs associated with these plans. Please take a moment to review this material so you can cast an informed vote when this matter comes before residents later this summer. Beginning June 15, informational meetings will be held to answer questions and receive comments or you can request additional information simply by returning the attached response card.

3 Protecting Your Investment When it was constructed in , Coronado Shores was one of the premiere beach-front condominium properties in the world. While it continues to be a unique residential setting, many common-area facilities are aging and badly in need of renovation and improvement to function properly and protect the value of your property. I am in favor of restoring the site to a 'first class condition' by repairing and/or replacing any portion of the site which was negatively impacted by 'deferred maintenance' over the past 30 years. William Krisel Original Coronado Shores Architect

4 The Problem Walls, foundations and other concrete structures are cracked, with rebar exposed and rusting in many locations, accelerating decay and creating unsightly conditions. Decking is cracked and misaligned, creating health and safety hazards; pool-area structures and equipment are aging and deteriorated.

5 Exterior lighting fixtures, electrical and phone boxes are badly weathered and rusted; inefficient design directs most illumination upward rather than down for resident safety. Sagging roofs cause maintenance and structural problems; aging and damaged interiors detract from the general appearance of facilities. Pumps, filters, heaters and ducts are deteriorating, requiring more frequent repair, wasting energy and increasing costs.

6 The Basic Renovation Plan $9 million The Basic Renovation Plan will improve the appearance and function of existing common-area facilities and prolong their useful life. All pools, excepting Cabrillo, need extensive improvements to their circulation, heating and drainage systems. Modernization will make them more efficient and less costly to operate. Beach Club Improvements will modernize and upgrade the pool and decking, replace the roof, improve handicapped access, enhance ocean views (as done at the newly re-opened Cabrillo pool), upgrade heating and cooling system efficiency and improve the bar area for better service to residents. Roeder Pavilion The pool and decking will be modernized and upgraded, handicapped access will be improved, ocean views enhanced, heating and cooling systems upgraded so guests will be comfortable even with doors and windows closed, and bathroom facilities will be upgraded. El Camino Pool Collapsing pergola will be replaced, bathroom facilities renovated, access improved, ocean views enhanced, pool and decking modernized while maintaining use as a lap pool.

7 Entrance Renovation of the entrance will enhance visitors first impressions while improving security, safety and traffic flow. Landscaping will be widened, pedestrian gates will be added to both sides, and new lighting installed, along with special paving and signage. Boardwalk Wall The Boardwalk Wall will be rehabilitated and modernized, improving access points for better security and ensuring continued privacy and protection, while enhancing exterior appearance. We retained qualified architects, planners and engineers to determine the areas most in need of attention and to develop prudent, cost-effective solutions that would protect our investment. Doug Crane, Chairman, Master Plan Subcommittee Association 2 President

8 All ten Association presidents have unanimously acknowledged the need for basic renovation and rehabilitation as a necessity for protecting and enhancing our investment. Willard Thompson, Association 7 President Landscaping New landscaping will include more attractive, native materials better suited to our coastal environment, reducing water and maintenance costs, while better screening parking areas and reducing root damage. Lighting and Security Improved technology will increase efficiency and safety. Exterior lighting and the perimeter security system will be modernized to increase campus coverage, illuminating dark spots, enhancing resident safety and increasing energy and staff efficiency.

9 New Facility Plan $4 million While the Basic Renovation Plan is needed to remedy existing deficiencies resulting from age and deterioration, the New Facility Plan provides an opportunity to enhance your investment and ensure Coronado Shores continues to be a premiere residential property in the 21st Century. In recent years, owners of similar properties have come to expect first-class health, fitness and recreation facilities. The recent purchase of additional exercise equipment has not remedied the chronic over-crowding of our existing facilities. An expanded Activities Center will feature a larger workout room, saunas, Jacuzzis, lockers, showers and meeting rooms to better accommodate the fitness, rehabilitation and recreation needs of homeowners. It will also include improved ventilation, a steam room and the flexibility to accommodate a new and broader range of exercise activities. Questions remain about the location of the Activities Center if the concept is approved by the majority of the Associations. If the concept is approved, the location will be subject to further study to evaluate sight lines, traffic, parking and possible disturbance to existing functions. I use the fitness equipment almost everyday but the facility itself is very limited. It just doesn t measure up to today s standards for a health club. I think all ages would benefit from additional therapeutic programs such as aerobic classes, professional instruction, and expanded spa services. Gloria Steele, Grounds and Recreation Subcommittee Chairwoman

10 Cost and Financing The estimated cost of the Basic Renovation Plan is $9 million, or an average of $2,052 per unit per year over three years. This is the maximum amount residents would be asked to authorize for the Basic Renovation Plan. The estimated cost of the New Facility Plan is $4 million, or an average of $912 per unit per year over three years. Again, this is the maximum amount residents would be asked to authorize for the New Facility Plan. Prioritization of construction work in the Basic Renovation Plan will be based on input from the Associations regarding (a) order of projects, (b) content within each project and (c) contract cost approval on a project by project basis. For those interested in financing or payment plans, Association presidents can provide you with more detailed information. In August, ballots will be distributed by each Association to its homeowners. You will be asked to approve either the Basic Renovation Plan or the combined Renovation and New Facility Plans. Your vote will be critical to protecting your investment and maintaining the quality of life we have come to expect at Coronado Shores. Yvonne Barnum, Ed Sack and Perry Koon Former and current L and R Committee Chairs

11 Please keep me informed on plans for renovation and improvement of common-area facilities at Coronado Shores. name - please print mailing address daytime/evening phone Please send me more information on the plans via . Comments/questions on assessment plan:

12 ! ! CORONADO SHORES 1740 AVENIDA DEL MUNDO CORONADO CA POSTAGE WILL BE PAID BY ADDRESSEE BUSINESS REPLY MAIL FIRST-CLASS MAIL PERMIT NO SAN DIEGO CA Basic Renovation and New Facility Plans NO POSTAGE NECESSARY IF MAILED IN THE UNITED STATES Coronado Shores