The Waters at Horseshoe Bay Resort

noreply@blogger.com (Sandra) — Tue, 26 May 2009 15:30:00 +0000

WATERS OWNERS: To keep you full apprised of the situation, we are copying an announcement from The Hollows blog posted on Saturday, May 23, 2009...

You may be aware that the Austin American-Statesman ran an article in today's edition concerning the start of foreclosure proceedings at the Hollows. As we told you in a previous posting, this is an expected step in our negotiation process. We continue to work with all parties toward a favorable resolution and will keep you informed.

We appreciate your patience during this time.

Update to April 21st Memorandum

noreply@blogger.com (Sandra) — Wed, 13 May 2009 00:28:00 +0000

We continue to be optimistic in our efforts to restructure the financing for the Terramesa properties. As we mentioned in last month’s memo, some elements of the negotiations for restructuring might include legal notices. It is likely this will occur for the Texas properties this week. We’ll share more information as we move forward. Thank you all for your patience as we work diligently to restructure the financing for these wonderful communities.

To read the original memo CLICK HERE.

Message to Waters Homeowners

noreply@blogger.com (Sandra) — Fri, 01 May 2009 21:02:00 +0000

In response to the economic downturn, Terramesa Resort Properties will be consolidating operations amongst its three Texas properties - The Waters, The Hollows and Pointe West. This includes consolidating the base location of our sales force and centralizing the marketing effort specifically to our Texas properties; in order to maintain communication and momentum among Terramesa associates while we weather this economic period.

As several of you have already heard, The Waters staff will now office at our sister property - The Hollows in Lago Vista. This move will allow our sales teams at both properties to combine forces and better market The Hollows, as well as The Waters. We want to make certain all our Homeowners know that operations at The Waters are not ceasing- our office is not closing- it is only being relocated in an effort to reduce overhead and maximize sales & marketing functionality. Those owners who still have units that are under warranty, will continue to be covered by the Terramesa staff.

Our new office location is at:

19503 Old Burnet Rd.

Lago Vista, TX 78645

512.267.9657 (o)

512.267.9329 (f)

For General Information and Sales, please contact Sandra Bradley at the office number above or by email at:

sandra.bradley@terramesaresorts.com

For Warranty, please continue to call or send an e-mail to the customer care department at:

1.888.426.5916
customercare@terramesaresorts.com

Terramesa remains commited to these porperties and our owners.

The Waters Launches its New Website!

noreply@blogger.com (Sandra) — Tue, 28 Apr 2009 12:58:00 +0000

We are thrilled to announce the launch of our BRAND NEW Waters website! The site is new, yet still in its infancy. We plan to continue to enhance it in the coming weeks and months to make it as dynamic, interactive, and comprehensive as possible. We want you to be able to experience The Waters, just as you recall it, from the comfort of your own home – and to encourage friends to do the same!

We will be announcing this launch to our full database later in the week, but we wanted to give you, our valued owners, an exclusive "first-look" opportunity.

If you come across anything that needs attention while you are exploring, please let me know at callie.nixon@terramesaresorts.com. Visit www.watersliving.com and start exploring now! Enjoy!

***Also visit our Terramesa sister property's newest website ***
The Hollows – Lake Travis, TX
Bear Lake Reserve - Tuckasegee, NC
South Peak Resort – Lincoln, NH

Thank you,
The Waters Staff

Memorandum to Terramesa Owners

noreply@blogger.com (Sandra) — Tue, 21 Apr 2009 20:55:00 +0000

Memorandum April 2009

To the owners, friends and staff members of the Terramesa Resorts,

The recent economic meltdown has affected many resorts. The properties of the Terramesa MDR Resorts LP are not immune from these unprecedented market forces. We are increasing our communications with our investors during this time of volatility as we navigate some significant challenges. We are persevering and will continue to do so on behalf of our property owners, equity investors, lenders, professionals, staff, vendors and the communities we so enjoy building together.

We invested in the Centex resorts at good price points and we believe these properties will survive the downturn and emerge with solid performance relative to other similar resorts. This said, it is not new information to recognize that the market for second homes is lagging. In spite of the market, our sales teams are still seeing activity and interest in the properties. As positive as this news is, the sales progress to date has not kept pace with the original business plan. We believe this is a short-term challenge that we can overcome. Specifically, we are working together to renegotiate with our senior and mezzanine lenders to restructure the loans underpinning our investments.

While our conversations with all lenders involved are collaborative and constructive, it is possible that some parties will take steps involving various types of notices and will probably involve their legal counsel. These negotiations will likely happen behind the scenes, but some may surface publicly. This, while alarming, is a normal step in the process of restructuring as the lenders retrench their positions. The banks and mezzanine lender have all indicated a willingness to work with us to restructure and move forward together. We, along with our investors and lenders, are committed to overcoming these challenges.

In light of the economic environment and slow sales, we will be implementing land development reductions in budgets and staffing over the next two to three weeks. It is important to note that we will be continuing to serve our owners with hospitality services and amenities. While we will be evaluating the hospitality budgets, we don’t currently anticipate making significant changes.

Our resort communities have proven to be unique and continue to be desired by discerning resort property owners in spite of the current economic conditions. We expect our resorts to continue to operate with excellence and we’ll share more information as we move forward.

Sincerely,

Terramesa Resort Properties

Hill Country Happenings

noreply@blogger.com (Sandra) — Tue, 14 Apr 2009 18:56:00 +0000

With so much going on in the Texas Hill Country this weekend, one would be hard-pressed to pick where to spend their time. Here are a few events, all within a short drive from The Waters, sure to make the weekend more enjoyable...

TEXAS HILL COUNTRY FOOD & WINE FESTIVAL
You won't want to miss the 24th annual festival held this Thursday, April 16th through Sunday, April 19th. The Festival brings together innovative culinary artisans and wine producers who celebrate the rich traditions that influence Texas wine and food. The Festival includes multiple events at different sites throughout the weekend, so be sure to check the website for more information. If you're only able to make one day, plan on heading out for the Sunday Fair from noon to 5 at The Vineyards at The Saltlick in Driftwood. Enjoy cooking demo's, sample wine and beer from Texas and guest producers, stroll through vendor tents, and enjoy live music all afternoon.

LLANO CRAWFISH OPEN
With live music, great food, golf tournament, and more, this annual Hill Country event offers a little something for everyone. Make your way out to Llano Golf Club and Country Park, April 17-18, to enjoy boiled crawfish, bar-b-que, jumbalaya, potatoes, and corn. Be sure to check the schedule for details about live music and other activities.

OLD SETTLER'S MUSIC FESTIVAL
Thursday, April 16th through Sunday, April 19th in Driftwood- just minutes from Austin. Old Settler’s Music Festival is a nationally known music festival featuring the best in roots and Americana music. The festival is held in the gorgeous Texas hill country, at the height of the Bluebonnet and wildflower season. Old Settler’s Music Festival offers great music and activities for the whole family. Musicians performing including Robert Earl Keen, the BoDeans, The Gourds, BeauSoleil, Ray Wylie Hubbard, and many more. For the full line-up, click here.

TEXAS MESQUITE ART FESTIVAL
The Texas Mesquite Association was established in 1992 by forty lumber mill operators, fine crafters and furniture makers who had an interest in Texas' own exotic hardwood, the pesky mesquite. Their art festival held in San Angelo, April 17th-19th, boasts the largest collection of mesquite art in the world.

2009 WINE & WILDFLOWER TRAIL
Follow the "Wine & Wildflower Trail" through the Texas Wine Country in its finest hour. during the Trail, local wineries will host tastings of newly released wines, and wine and food pairings, seminars, demonstrations and tours. Come and meet the vintners as you tour and taste. Don't forget your camera! www.texaswinetrail.com/events.html

2nd ANNUAL GOAT SPECTACULAR CABRITO AND BAR-B-QUE COOKOFF
Head out to beautiful Bandera and enjoy bar-b-que at Bandera City Park, on the Medina River. While in town, be sure to stop at Old Bandera Downs Trade Days, located at Bandera Downs Race Track, and shop among over 350 vendors.

For a more complete list of activities in and around the Texas Hill Country, please visit these links:
http://www.hill-country-visitor.com/
http://www.texashappenings.com/EVENTS/HILLCOUN.HTM
http://tourtexas.com/page.cfm?p=events

Let's Celebrate...

noreply@blogger.com (Sandra) — Wed, 01 Apr 2009 17:44:00 +0000

Happy 1st Anniversary Terramesa!

Today marks the anniversary of the first year of business for

Terramesa Resort Properties. It was one year ago that The Waters

along with The Hollows, Pointe West, South Peak Resort,

Bear Lake Reserve, and "V " at Lake Las Vegas

became a part ofthe Terramesa Family.

The past year has seen many successes and we

look forward to many more yet to come!

Eventful Spring Break at The Waters

noreply@blogger.com (Sandra) — Mon, 23 Mar 2009 18:43:00 +0000

Beautiful weather was abundant during Spring Break week at Horseshoe Bay, following a week of dreary rain and cold temperatures. The rain events produced a beautiful green-up and even a few bluebonnets (the state flower) in and around Horseshoe Bay Resort, which were enjoyed by home owners and Resort guests alike.

The Waters sales team took advantage of the beautiful weather and increased traffic in the Resort to host an Open House on Thursday 3/19 and Friday 3/20. Many guests from the Marriott

as well as individuals staying at The Waters walked through the available villas in Buildings 5&6 and picked up information about our community as well as other goodies.

The highlight of the week, however, occurred on Saturday night as we hosted "Take A Break", our owner appreciation party. This lake-side event, held at West Bank Marina Plaza, was a success with over 60 owners and guests in attendance. Renee's Catering of Austin provided a fabulous Caribbean-style buffet dinner while local band Corporal Punishment covered rock-n-roll and blues favorites. Thanks to everyone who came out and we look forward to seeing the rest of you next time! To view pictures of the "Take A Break" event, click here.

Weekend Happenings

noreply@blogger.com (Sandra) — Thu, 12 Mar 2009 20:22:00 +0000

For those of you spending this weekend at the Resort, be sure to check out these happenings around Horseshoe Bay and Marble Falls...

March 14th- Bird Talk at Whitewater Putting Course will take place from 9 am to 10 am. Bring the kids and meet Horseshoe Bay Resort's aviary specialist, Tish Walker, as she tells the story of how the Resort has become their home.

March 14th - Main Street Market Days in Marble Falls will take place on Main Street from 9 am to 4 pm. The event draws many vendors, some coming from hundreds of miles to set up their booths and sell their hand crafted wares. You will find everything from leather handbags and billfolds to woodcraft items, jewelry, clothing and more. There will also be food, snacks, and drinks available to make your shopping more enjoyable.

March 15th - Sunday Fun Day as the Yacht Club pool stays open with special buffets, board games, and family-friendly movies.

Waters Launches Re-sale Program

noreply@blogger.com (Sandra) — Tue, 10 Mar 2009 16:58:00 +0000

The Waters sales office is expanding its operations beyond developer product by providing an on-site Re-sale Program. Sales Executive and licensed Realtor Russell Harlien is now taking listings to represent Waters homeowners wishing to sell their properties. The purpose of this program is to make a coordinated effort, in association with local area Realtors, to sell both developer and re-sale inventory for the betterment of the entire community. Please feel free to contact Russell via telephone at (512) 944-4510 or email, russell.harlien@terramesaresorts.com. Please note, if you have already listed your property for sale with another broker, this is not intended to be a solicitation.

We look forward to hearing from you!

"Take a Break" Owners' Event

noreply@blogger.com (Sandra) — Tue, 03 Mar 2009 15:32:00 +0000

Terramesa Resort Properties and The Waters to host an Owner Appreciation Party during Spring Break. We are looking forward to seeing everyone the evening of Saturday, March 21st. This is an opportunity to say "thank you" to all of our owners and to celebrate the progress we are making as a community. Please view the invitation below for more information and to RSVP.

Terramesa Resort Properties and The Waters invite you to …

“Take a Break”

Saturday, March 21, 20095:30pm to 8pm

West Bank Marina Plaza, The Waters at Horseshoe Bay Resort

Come back out to The Waters, visit with your neighbors, and casually celebrate Spring Break by Lake LBJ.
The gathering includes a complimentary Caribbean-style buffet, beverages, live music and family entertainment.

Reservations are recommended by Monday, March 16th and
early responses are greatly appreciated.
Please RSVP with the number attending to explorewaters@terramesaresorts.com

Area Realtor Open House

noreply@blogger.com (Sandra) — Fri, 27 Feb 2009 16:59:00 +0000

The Waters sales team hosted an Open House for Horseshoe Bay and Marble Falls area Realtors on Thursday, February 26th. The Open House showcased new developer inventory in Buildings 5 and 6, that are now complete and ready for occupancy. Sales Executive Russell Harlien was excited to announce the start of construction of the Garden Area pool as well as show off the available villas to Realtors in attendance, many of whom had never seen completed product in Phase II at The Waters. Lunch was served in the top floor Juniper of building 5, an available villa with an unparalleled view of Lake LBJ, Lighthouse Drive, and Horseshoe Bay Yacht Club. The effort was the first of several planned events geared toward improving communications and cooperation between The Waters sales staff and local brokerages with the goal of increasing the overall numbers of sales of Waters villas.

If You Build It, They Will Come....

noreply@blogger.com (Sandra) — Mon, 23 Feb 2009 22:06:00 +0000

We are excited to announce that we have officially broken ground on the private Garden Area swimming pool! Excavation of the pool began last Thursday, the 19th, and is already complete. During the next few weeks, masonry and plumbing will commence. Given fair weather, we expect the installation of decking and landscaping to begin within the next three weeks. The Waters Garden Area pool will be completed and available to enjoy this summer!

The rendering above shows the orientation and layout of the pool in relation to the existing buildings - 5 and 6- as well as future development. For a larger image, click on rendering above. The cabana and spa indicated above are slated for future development and will be built in conjunction with, or after, the completion of building 9. For pictures of pool excavation and construction, click here.