Albemarle Plantation Amenities Now Owned by Property Owners Association Debt Free
After months of heated discussions, neighborhood debates and relentless negotiation, the community amenities were acquired by the property owners association on June 14, 2012, a long term victory for Albemarle Plantation. This gated North Carolina coastal community is located on the Albemarle Sound in the Edenton NC area, affectionately named one of America’s Prettiest Small Towns. Their amenities include a championship Dan Maples golf course, swim and fitness center, tennis courts, a gorgeous clubhouse and a full service marina with deep water dockage for 166 boats up to 60 feet. Albemarle Plantation is an Inner Banks marina community on the Albemarle Sound.
A Special Assessment of $3,600 was imposed upon property owners, for improved properties and unimproved properties whose owners are also full club members, and $2,200 was imposed on unimproved properties. This silver lining, this assessment is partially refundable. When a member sells the property to another party, either $2,200 for an unimproved lot or $2,760 for improved property will be refunded to the seller. Buyers searching for Edenton real estate purchasing property at Albemarle Plantation (a new member) must pay these amounts prior to, or at, closing. Membership initiation fees have been substantially reduced to $5,000 for full membership and $2,500 for a social membership.
As to be expected, not all property owners are thrilled to hand over a $3,600 special assessment check even though in the long run, it was a smart decision as opposed to closing down the club amenities because this Edenton real estate developer no longer wanted to fund the club amenities. Allowing any of the amenities to close and shut down would have tanked Albemarle Plantation home values. However, the dust has not settled just yet. To keep the club checkbook in the black, the Albemarle Plantation Property Owners Association (APPOA) has asked property owners to spend $40 a month at the club restaurants. At this time, participation at the club is only about 35% of the property owners meeting the dining spending minimum. In the short term, will the club experience a budget shortfall until those living on a tight budget recover from the sting of the special assessment? Our guess is yes, but we hope it’s short lived.
We hope the same group of patriots who spearheaded the successful amenity take over focus the same amount of energy on bringing back harmony to Ablemarle Plantation. This gated North Carolina coastal community has all the makings of a fairy tale. Folks who desire to live close to the Outer Banks, will find this affordable Inner Banks marina community is only one hour from the Wright Memorial Bridge crossing over to the Outer Banks. Mild four season weather, ideal sailing conditions on the protected Albemarle Sound, championship golf and beautiful Outer Banks beaches are the perfect combination of the happy Ablemarle Plantation retirement lifestyle Edenton real estate buyers seek.
To the APPOA and Albemarle Plantation property owners, congratulations on your success and have faith in your accomplishment! You will reap the rewards for years to come by retaining the deserved honor of being one of the best Inner Bank marina communities in North Carolina.
If you'd like more information about Albemarle Plantation including Discovery Package information, write us at info@communityfinder.com or call toll free 866.384.1799
