Quote:
Originally Posted by Papa_lecki
It seems Spanish Springs will need a major investment of capital in the next 3 to 5 years.
Bottom line, Developer needs/wants to keep rents strong and flowing in. We all see an office building getting a facelift every 20 or 30 years. Same concept.
Are the loss of the 3 restaurants recently a sign (not to mention some of the other places that closed - that wine/beer place)?
SS is in a tough location - I think of amount of housing in all 4 directions. SS doesn’t have many villagers to the north or east.
That was okay when it was only SS and LSL - it was a reasonable drive from LSL area to SS.
Now, those around LSL, can go south, not only to Brownwood, but Sawgrass and soon 2 more areas.
Residents around Brownwood and south, will do the same thing, traveling north to SS less frequently,
UNLESS - SS gets a renovation. New concept, new retail new restaurants.
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We live south of 44. We’ve been to Spanish Springs once in 3 years. We just enjoy Brownwood more and it’s closer I guess. I don’t wish it any ill will, but they really won’t be getting any income from most in our area. After Eastport is built, there just isn’t really any need to drive a half hour north for entertainment. Retail is starting to boom, Clermont is closer for additional shopping and life couldn’t be better.
Could income verses buying power for that area being reduced because of age and fixed returns be the problem? As we get older, maybe we don’t want to to go to the squares and spend like we used to? Perhaps that may be the major issue.