Dear Bayside Community Homeowners,

Carl M. Freeman Companies is excited to welcome the exclusive, trend-setting hotel group Beacon Hospitality to Bayside. Signage is up and excitement is building around the Fassett House Inn & Spa at Bayside.

What’s the story behind the Fassett name? Thomas Fenwick, the first owner and namesake of Fenwick Island, died in 1708 and the property ownership was transferred to his daughter and son-in-law, Mary and William Fassett. A fun tidbit of local history that many people might not know!

We started communicating about Fassett House Inn & Spa with a public announcement in April 2021. You will be interested to know that Beacon Hospitality’s Bellmoor Inn & Spa  in Rehoboth Beach is known and celebrated as an indulgent, luxurious experience for guests. The Bellmoor was also named the best designed hotel in Delaware.

The renderings of the Fassett House Inn & Spa can be seen here. The Beacon team plans on breaking ground in late October 2022 with a completion date in late 2024. We look forward to welcoming Bayside residents’ extended family and friends as guests of Fassett House.

“Beacon Hospitality is known and celebrated for their indulgent, luxurious guest experiences.”

Beebe Healthcare Coming to Bayside Corner

As Carl M. Freeman Companies continues the development of Bayside as a true mixed-use community, we are delighted to welcome Beebe Healthcare to Bayside Corner.

Beebe Healthcare CEO Dr. David Tam announced during his presentation at Bayside Institute’s Wellness Week in May 2022 that Beebe will be a Bayside Corner tenant, and Dunkin Donuts’ neighbor. The new commercial retail center is located across Lighthouse Road from Bayside Marketplace.

A second announcement outlining all that Beebe has to offer at this facility is expected early September. The target opening dates for Dunkin and Beebe will be announced later this year. These additional components are exciting and align with our philosophy of making health, wellness, and convenience a key lifestyle characteristic for Bayside residents.

Of note, the BP gas station and convenience store adjoining Bayside Corner has no connection to Carl M. Freeman Companies.

“Having a Beebe Healthcare facility so close moves Bayside towards a true mixed-use community.”

Welcome Center

In our April 2022 Developer Update we announced that the Welcome Center is becoming what it was initially intended to be – a useful and convenient commercial space, with Keller Williams as our new tenant. There are more than 1,400 homes in the Bayside community and we believe Keller Williams will be a valuable resource for residents.

“The Welcome Center is becoming what it was initially intended for – a useful and convenient commercial space.”

North Haven Pool

We are pushing as hard as we can to make sure families at Bayside’s North Haven will have a beautiful new pool next summer. We are all frustrated by supply chain challenges and truly appreciate your patience as we complete this amenity.

Streetlights on West Sand Cove Road

Our communication on this issue has been frequent. In the HOA’s July Board of Directors monthly communication, Founder-appointed Board Members Josh Mastrangelo and Lisa Meck reported that they continue to communicate with the appropriate agencies to discuss possible solutions to the Founder’s request (denied by DelDOT) to install streetlights on West Sand Cove Road that match those within the Community and are located on DelDOT roads. To date, efforts on this initiative are still in progress. We are working hard to make this happen.

Fiduciary Duties of Directors

There has been a lot of discussion surrounding the Fiduciary Duties of Board Members, most specifically the Founder-appointed Board Members. We recognize that this is an important topic and fully support the appointed Founder-appointed and homeowner-elected board members’ decision to host a special board meeting on Aug. 18.

We anticipate a productive discussion on Thursday and encourage all homeowners to attend. We hope all attendees will listen to the presentation of facts and the discussion of the law by the attorneys for the HOA and the Founder with an open mind and behave in a manner that reflects the elegance and sophistication of Bayside.

 In that spirit :

  • We previously sought guidance from our legal counsel, which was provided to the appointed Founder Board members
  • Legal counsel provided direction on how best to fulfill their duties considering their employment by the Founder as well as their role as HOA Board members.
  • We also committed to pay the legal expenses for our attorney to be present at the special Board meeting to further share their opinion and reasoning with the HOA’s legal counsel and homeowners.

As Founder of Bayside, we believe we’ve always acted in the best interest of the community as a whole and the HOA, and in accordance with the Community Charter. The appointed Founder Board members act consistently with these same values and framework.

Understanding Why Founder-Appointed Board Members May Recuse Themselves

A recusal by a Founder-appointed Board member may be warranted in certain circumstances. This should not be misconstrued as a violation of his or her fiduciary responsibility, but rather fulfillment of that responsibility, such as when the Board is considering taking action or making proposals that are contrary to the Community Charter.
The Founder has and continues to respond to HOA requests, inquiries on the progress of development and financial contributions, including, for example:

  • The $200K contribution to the Townhome Paint Reserve Fund
  • The Founder continues its past and ongoing asset turnover for common area maintenance and deeding of common areas, where the Founder is actively and willingly participating in the turnover walks with the HOA management team, homeowner committee members and industry professionals to inspect newly installed common areas by the Founder such as landscaping, irrigation, and/or pond enhancements.
  • As a result of the turnover walks, the Founder has committed to additional improvement requests from the HOA, which in some cases were above and beyond the approved and permitted construction documents.

We do all this because we actively share the same desire for a beautiful community that we can all be proud of long into the future.

Transition

As we continue to progress towards transition and turnover of the Board of Directors to a full homeowner-elected Board, it is important that homeowners understand this is a complex and multifaceted process. While the HOA is an important part of the transition, it isn’t the only transition consideration item for the Founder.
The Founder has been actively working on the transition internally, and with regulatory agencies for aspects both inside and outside of the HOA. So, while the HOA’s transition to majority homeowner control has not officially started, the Founder’s transition of the community is ongoing as illustrated by these examples:

  • Welcome Center becoming the commercial space it was initially intended to be
  • Focus on our day-to-day operations and interactions with the Bayside Marketplace, Sports Club and other vital components of the Bayside community
  • Expansion of amenities such as North Haven pool
  • Creation of additional retail facilities such as Bayside Corner
  • The anticipated construction of the luxury Fassett Inn & Spa

It’s key to understand that as our vision comes to fruition, the transition encompasses all parts of our business and the Bayside Master Planned Community.
Our Bayside Community is a beautiful, award-winning destination and we are honored to have the opportunity to develop a place for people to come together and live a fully enriched, healthy lifestyle.

If you have questions regarding any of these development updates, please

Sincerely,
The Carl M. Freeman Companies