Having been a Real Estate Appraiser for 38 years in western Pennsylvania I have observed many communities change over the years. Some in a positive way and some in a negative way. My wife and I purchased our 2nd home within a 20 minute golf cart drive to Spanish Springs. We like the northern part of the Villages. The older more mature neighborhoods were attractive to us. The ease of jumping out side the bubble to find whatever we need we think is great. The Restaurant business has always been a very competitive business. As an operator your business model better be geared around surviving on the slow times and not on the boom times when we snow birds flock in to survive. Your product must be better than average. Your help must be top notch. The rents of the spaces in Spanish Springs will eventually reach an equilibrium between what can be paid by an operator to make a profit and the developer to get the return on the investment for the site that is satisfactory to the Developer. The return to the Developer may come from a larger picture, the sale of new homes in the new communities opening up. Eventually the Developer will not subsidize the older built out neighborhoods and they will change. The Highest and Best Use of the properties will change. Being new to the Villages it will be interesting to see how the metamorphosis of the neighborhood evolves.
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