Quote:
Originally Posted by Challenger
Virtually all developers in larger projects provide amenities at one level or another as partof their marketing package. Many times , as in The Villages, this includes the contribution of capital assets such as buildings and playing fields and their equipment. As the development matures it is usually the case that the developer turns these activities over to the residents who determine at what level they will operate and how much they will volunteer to contribute. ... We need to begin preparing now for their total withdrawal from these activities.
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Yes, in The Villages the developer used special appraisal techniques, approved and accepted by their hand-picked boards, to sell common properties back to the residents in the CDDs at grossly inflated prices.