July 30, 2014  

What Is WPI?



WPI is an abbreviation for “Wintergreen Partners Incorporated.” WPI is a club membership that was formed by a coalition of owners in 1984 for the purpose of creating group ownership of various recreational facilities and the general management of the resort. Today, WPI owns and manages (through a board of directors consisting of elected Members) things like the Wintergreen rental program, the food & beverage department, the Wintergarden Spa & Fitness Center, the tennis and golf programs, the ski slopes and all of the facilities that go along with these departments. WPI also owns the 6,000 acres of protected wilderness on Crawford Knob, between Wintergreen’s mountain village and the valley village at Stoney Creek.

When you purchase a property at Wintergreen, it may already have what is called a “Right of Membership” to WPI attached to it. This is currently a $9,000 value that is written into the deed to the property. This means that at some point in the past, somewhere along the way, an owner has added this “Right” of Membership to the property, whether it was in the beginning (in 1984) or more recently. Once a property has this right of Membership, it conveys continuously from owner to owner, on a permanent basis. Once this Membership is attached to the property, the owner (or subsequent owners) have the option of ACTIVATING the WPI Premier Equity Membership at any time – at whatever the current rate. For 2010, this one-time club Premier Membership “activation fee” is $12,000. This fee is 80% reimbursable at the then current value when you resign and your Membership is reissued.

The Club recently added a Non-Equity Membership class with initiation fee at $5,000. No annual cart plan, preferred parking or extended family benefits are included.

Keep in mind that the Right of Membership is a VALUE. Thus if it’s not attached to a property, the price of a property will usually reflect this, compared to similar properties that DO include the Right of Membership. And remember that the Right of Membership can be added to the property at any time by purchasing it directly from WPI, and can usually be wrapped into the price of a property and financed as part of a purchase.

Once you own a property “with WPI,” you can then decide whether or not the time is right to activate the Premier Equity Membership. Membership benefits could include unlimited skiing, golf, tennis, free access to the Spa & Fitness Center as well as priority parking and “Member Only” privileges. Financing plans are available for the 80% reimbursable activation fee. You will also be able to take advantage of a Trial Membership that is offered to each new first time property owner.

And remember, WPI is completely OPTIONAL and it can be activated at any time. For more information on WPI, feel free to call or email Tom with any questions you might have – general or specific.

Mountain Area Realty
P.O. Box 444
Wintergreen, Virginia 22958

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kubiaktom@realestateatwintergreen.com