[villagetinker]

Originally Posted by JCMSr

In reading through the comments it appears that many folks are thinking Wildwood should come crawling back, apologies in hand, to The Villages and ask them to develop this tract of land. Unfortunately, the City of Wildwood can only sit back and see what happens at this point. Assuming the initial developer completed the land purchase there is most likely a bank somewhere with a mortgage on this property and they will be the one's who determine when, to whom and for how much the property will be sold. Most developers try to secure tracts of land such as this by having a contract subject to approval of their development plan by the local authorities. If, as in the case of The Villages and the Wildwood mayor, their plan is rejected they are under no obligation to go through with the sale. Even if the land was financed by the previous owner things will most likely be tied up in the bankruptcy courts for months if not years. Now that the adjacent tracts of land have been sold and are being developed by others I would doubt that The Villages would be interested in developing such a small tract of land. Lets hope that another developer comes along with a more suitable plan that can coexist with what we are more used to seeing here in The Villages. Just do not expect anything to be done any time in the near future.

I agree this will be tied up for a long time, unless the original developer can 'pull a rabbit out of the hat' and come out of bankruptcy. Having stated that, I think the original plan was somewhat shaky with the proposed rental rate of the housing units. I also agree that if the land goes back up for sale all bets may be off for the proposed development, depending on Wildwood. All we can do is wait and see.