NORWOOD RESORTS INC. TO OFFER INNOVATION IN SHARED OWNERSHIP OF VACATION REAL ESTATE

A first in Ontario, Norwood Resorts Inc., launched thisattempting to visualize from plans, and will enjoy
summer, offers fractional ownership in a variety ofimmediate occupancy opportunities depending on their
vacation properties in the Collingwood area. Withschedule choices.
choices ranging from chalets and custom-builtFractional ownership means that vacation dollars
705-homes, to log cabins, condo villas and evenreflect a purchaser's actual time of use of the
condominium suites in several resort-style locations, avacation property. Freedom from maintenance and
more diverse selection of the vacation propertyupkeep allows for a more relaxing visit in casually
market will be able to zero in on the perfect homeelegant surroundings crafted with excellent quality and
style to suit their holiday needs. In addition, Norwoodcustom details. The ability to own two consecutive
Resorts will provide a broad range of services that willweeks in different seasons provides a significant
provide exceptional comfort and convenience tobenefit to the Norwood Resorts family of members.
fractional ownership purchasers, as well as theEach property is owned and held in perpetuity
opportunity to pursue various other vacation optionsexclusively by the member owners, they are in control
around the globe.of what happens to their vacation home now and in
The Norwood Resorts concept stands out from thethe future. With fractional-ownership opportunities
competition in a number of ways, beginning withbeginning in price from just $30,000, there is something
choices that lie outside the parameters of ain the Norwood Resorts portfolio for just about
development or traditional resort. Some purchasers willeveryone.
feel comfortable buying a one-tenth share in aAll Norwood Resorts fractional owners will belong to
multi-million-dollar ski chalet; others may prefer tothe not-for-profit owners' corporation that owns and
co-own a compact condo overlooking the lake. All ofcontrols each property. This corporation is also a
Norwood Resorts vacation properties will bemember of the local condominium corporation that is
renovated and ready to occupy, so purchasers canultimately responsible for the care and upkeep of the
actually see what they are buying rather thanexteriors of the villas and the grounds.