PORT LUDLOW — Nearly 150 residents packed the Port Ludlow Bay Club on Thursday, eager to learn about the effects of a proposed 120-condominium timeshare project in the resort community.

Developers initiating the project, Port Ludlow Associates, in partnership with Redmond-based developer Trendwest Resorts Inc., sponsored the reception.

The event was conceived to familiarize the community with the proposal.

Trendwest plans a resort complex on a 15-acre former log dump area as Ludlow Cove Division II, across from the Village Center at Oak Bay Road.

The proposed upscale resort will include 120 waterfront condominiums and recreational amenities.

At this point the project has received county approval but no permits, the developer said.

Building at summer’s end

Trendwest officials are now pushing for the purchase closure, anticipated in July, and are acquiring building permits to start building by summer’s end.

The reception started with a 45-minute presentation by Trendwest Executive Vice President Jene Hensley and several other representatives.

Hensley began by explaining the ins and outs of the Trendwest timeshare structure.

Trendwest is to develop the site, Hensley said.

After that, WorldMark, the Club, which is owned by Trendwest, would own and manage the resort through a flexible, point-based system.

As part of Trendwest, WorldMark counts 220,000 members who continuously use its 56 resorts worldwide, Hensley said.

“Our average club member is 55 years old, married, with an average income of $90,000 a year,” Hensley said.

The resort would include standard amenities such as a swimming pool, a spa and a clubhouse.

It would consist of fully furnished studio apartments, 1-, 2- or 3-bedroom units, as well as presidential suites and a penthouse.

Other locations include resorts in such diverse places as Vancouver and Victoria, British Columbia; Seaside, Ore.; Seattle and Las Vegas — as well as the WorldMark-managed resort on Discovery Bay in Jefferson County.