Quote:
Originally Posted by justjim
The Developer will "strike while the iron is hot" and right now "homes/villas are hot---mall's not so much.
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The iron is definitely hot for the sale of residential properties in The Villages. At the same time, large mall development is not anything that the Developer has a lot of experience with. And right now, many of the large anchor store chains have completely stalled their plans for new store development. Trying to put together a well-anchored retail mall development serving a largely seasonal community in this economy could be a multi-year project. The developer could completely sell out that property if developed as residential long before they'd make their first dollar of profit on a retail mall.
Personally, I'd be just as surprised if there wasn't a (much needed) smaller retail component on that property--try a Publix-anchored mall like Colony--as I would if it actually was all developed as a large mall.