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BAYWATCH RESORT HOMEOWNERS' ASSOCIATION, INC.
C/O RESORT ASSOCIATION MANAGEMENT
P.O. BOX 1708
NORTH MYRTLE BEACH, SC 29598
August 16, 2023
Dear Valued Owners,
The elevators at Bay Watch Resort are a crucial element of the facilities, and have an expected lifespan of 20 to 25 years. As the buildings were originally constructed in 2001 through 2003, the elevator systems are now reaching their expected life. During the 2023 annual owners meeting, one of the topics that was discussed was a multi-year project addressing the elevators at Bay Watch Resort. The first phase of this project began in 2020 and involved upgrading various hardware components, and that work is being completed this year. The second and final phase of the project is modernization, which entails updating the supporting machinery and controls as well as remodeling the elevator interiors. The cost for the first phase of the project was approximately $950k, while the second phase will cost $3.6M over three years. These costs are paid using the Association’s reserves, which are funded through the monthly dues paid by each owner. This modernization work has become increasingly imperative, as a number of the components that control the elevators are no longer manufactured and can’t be replaced if they fail and are unable to be repaired.
The modernization work will be occurring during the shoulder and slow seasons over the next three years, starting in September each year and ending in May of the following year. Each tower will be modernized in the order that the towers were originally constructed, meaning that tower 1 will be modernized the first year, followed by tower 3 the second year, and then tower 2 and the garage the third year. Only one elevator will be taken offline at a time while the modernization work is being completed. That elevator will be returned to service prior to taking another offline.
Your understanding and patience during these activities is appreciated.
Respectfully,
Your Board of Directors
Baywatch Resort Homeowners’ Association
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South Carolina Emergency Management Division
Room/Bedrooms | # Units | Owner Percent | Previous Monthly Rate | Monthly Rate | Insurance Assessment | Total Assessments |
---|---|---|---|---|---|---|
1 Bedroom | 246 | 0.14% | $542.27 | $577.52 | $415.18 | |
2 Bed Deluxe | 100 | 0.25% | $947.92 | $1,009.54 | $725.76 | |
2 Bed Stand | 66 | 0.21% | $812.44 | $865.25 | $622.04 | |
3 Bedroom | 60 | 0.31% | $1,191.47 | $1,268.91 | $912.23 | |
Studio | 51 | 0.1% | $379.01 | $403.65 | $290.19 |