Freedom Pointe (the new condos)

[bacchus6]

I was wondering if anyone has any views on Freedom Pointe, the new 249-unit condo tower set to be completed at the end of 2009. I read in the Daily Sun that the owner already received 10% deposits for more than 70% of the units. With the housing market getting so bad nationwide, are depositors starting to ask for refunds? Are the entrance fees getting smaller (more promotions)? Is construction still on schedule--or are there any problems there? I know that a lot of depositors live in the Villages--is anyone very concerned about not being able to sell their house? Thanks in advance!

[BOMBERO]

http://www.oxblue.com/pro/open/?webPath=twfrierson/freedompointe



Here's a view for you.

[Cassie325]

I was wondering if anyone has any views on Freedom Pointe, the new 249-unit condo tower set to be completed at the end of 2009. I read in the Daily Sun that the owner already received 10% deposits for more than 70% of the units. With the housing market getting so bad nationwide, are depositors starting to ask for refunds? Are the entrance fees getting smaller (more promotions)? Is construction still on schedule--or are there any problems there? I know that a lot of depositors live in the Villages--is anyone very concerned about not being able to sell their house? Thanks in advance!

I am in the "senior housing industry"....I was wondering the same thing....will make a call this week and let you know! LAst I heard they were deposited at 75%.....that was months ago....my guess is that people have deposited but wont move in right away....hard to know...will try to find out...again...I must investigate as I am very nosey..... :dontknow: :cop:

[graciegirl]

What and where is Freedom Pointe? Is it part of TV or closeby?

[Floridagal]

Freedom Pointe is across from The Villages Hospital.

[Cassie325]

It is a HUGE Independent Living Community/Retirement Community within TV...across from the hospital....under construction....opening Fall 2009....it is owned and operated by Brookdale Senior Living Company...they now own and operate the Village of Homewood....assisted living...and many others across the country.....it will be high end with every service possible....I am sure absolutely the best of the best as it is here in TV's.

Take a trip past SS/Morse Blvd cirlce turn on El Camino and you can not miss it!!!

It will be gorgeous....huge and top notch....but they did kick out the buffalo.... :o

[bacchus6]

Thanks--i have the webcam URL to checkout progress. I also know who owns FP and who is developing it. I'm an investor in the senior housing industry. I've just heard nothing but good things about Freedom Pointe, but those have all been from people that you would expect to say nothing but good things. I know that there are about 70,000 people living in the villages, with 90,000 expected by the time Freedom Pointe opens. Since there are 249 units, that would mean that the owners would need only 1 in every 361 Villages residents to sign-up during the next 18 months. It seems like they should be have deposits for all 249 units, plus a waiting list, since the Villages is age-restricted, right? That begs the question--is it so pricey that the number of potential residents is really only a small fraction of Villages residents--or is the real estate market getting worse and therefore people are worried about being able to sell their house? It seems like if it were a slam dunk best thing since sliced bread, they would have 100% of the units with deposits already. Would love any feedback--much appreciated.

[gemorc]

What and where is Freedom Pointe? Is it part of TV or closeby?

You just have to get north of 466. Theres a whole new world up here.

[Peachie]

There are many financially cautious people that need to see what Freedom Pointe has to offer when they are finished building, is my guess.

As of today, August 22nd, it looks more like an ark being built in the flood, via the webcam.

[Cassie325]

Thanks--i have the webcam URL to checkout progress. I also know who owns FP and who is developing it. I'm an investor in the senior housing industry. I've just heard nothing but good things about Freedom Pointe, but those have all been from people that you would expect to say nothing but good things. I know that there are about 70,000 people living in the villages, with 90,000 expected by the time Freedom Pointe opens. Since there are 249 units, that would mean that the owners would need only 1 in every 361 Villages residents to sign-up during the next 18 months. It seems like they should be have deposits for all 249 units, plus a waiting list, since the Villages is age-restricted, right? That begs the question--is it so pricey that the number of potential residents is really only a small fraction of Villages residents--or is the real estate market getting worse and therefore people are worried about being able to sell their house? It seems like if it were a slam dunk best thing since sliced bread, they would have 100% of the units with deposits already. Would love any feedback--much appreciated.


I guess my thought would be that when a prospective resident of TV's comes to visit...they are thinking of buying a new house...not live in a retirement (building) community. However, I personally think it is a great investment/idea for snow birds....

This is a new concept for most. While I believe that Brookdale has done a great job advertising the place...I am not sure enough people really know what it is going to be...what it will offer...what the benefits are...etc....certainly if someone wants to know that and seeks out the information....they can go to the sales office....however there are many people that are moving into the "Southern Frontier" of TV's and have never heard of it...or have even seen it....or an advertisement....or perhaps they thought it was going to be a nursing home or assisted living....

Perhaps Brookdale should have a video or commercial put together...using one of their already opened higher end properties as the back round...and put it on channel 2...or have a lynck on TV's website... Brookdale certainly is the right company to have in TV's....they know customer service and do it well....

These are just my thoughts and opinions....as always I could be wrong....but then again I could be right.....

[villages07]

I believe their primary initial marketing avenue was to existing Villagers who have found the single family home becoming too much to manage. People who already know and enjoy the TV lifestyle but are looking for the next logical move as they get older and less able to manage maintaining a household. Freedom Pointe may not be so attractive to a first time resident of TV.

That said, has anyone looked into the cost? Are you leasing or do you buy a unit? I hope to not need these kinds of services for another 30 years, but, am curious how the costs and fees stack up.

[swrinfla]

An acquaintance of mine looked into a unit at F.P., thinking ahead to the day when he'll want assistance to be close at hand 24/7 - when he'll be "too old" for his current home.

After much talk and research, he decided not to put down a deposit. It was a "huge" amount, and there were all sorts of restrictions, etc., etc., that totally turned him off.

Beyond that, I know nuttin"

:joke:

SWR

[SteveFromNY]

Here's a link to an article about FP:

http://www.ocala.com/apps/pbcs.dll/article?AID=/20070125/REPORTER/201250322/1131/REPORTER

[villager99]

for many downsizing to a small villa and arranging for private housekeeping and/or meal prep services is a more viable and flexible financial solution. to the desire to age in place in the villages
.but one appeal of freedom point might be for couples where one partner might need to move to the adjacent assisted living, nursing home or alzheimer facilities.i think many of us will choose to forgo pre buildout discounts in favor of seeing how it functions in reality once it's been open for a period of time.

[ilvgolf]

Now things may have changed but this year when I attended the GolfFest which was held here at the Polo Field, I was listening to a representative from Freedom Pointe talking to a couple and I heard her say "the cost for a one bedroom, one bath is $750,000." I almost choked!!!!! Surely she was jesting!!!!!! But seemed to be very serious. There is also a monthly fee involved EVEN after you pay your high price to live there.

[JohnM]

When we met with a marketing rep in 2-08, they quoted a 1 bedroom/1 bath at $252,000 with a 90% refund; monthly maintenance was quoted at $2,185 (1 meal per day, utilities, transportation, maintenance included);

They said they were 70% sold at that time (construction had not started);

Freedom Pointe is owned and managed by Brookdale Senior Living. The are quite large; we visited a local Brookdale facility and were impressed.

John

[bacchus6]

Thanks, this is all very helpful. I'm surprised that more than a few people in TV haven't heard of FP. BTW, I doubt the $750k figure is right. I believe the JohnM post ($252k) is much more the norm. I guess Brookdale could do a showroom with a scale model--just like a condo or apartment developer would--that might help a little.

[Cassie325]

I LOVE that idea....I don't think everyone really knows what services are going to be available...it is not just lawn maintenance....not just home watch type services....

I actually have some great ideas for the place....would love to talk...if you are interested....PM me....

[Villages Kahuna]

Freedom Pointe is now about five stories out of the ground--on schedule for its 2009 occupancy.
I'd be amazed if almost everyone who lives in TV hasn't at least heard of the development. Both their promotions, their ground-breaking and now the construction itself would be hard to miss.
The "place-holding deposit" is NOT huge! It's $1,000 and is fully refundable.
The cost of the units and the monthly fee impressed me as being less expensive than what I have seen for similar high quality developments in big cities.
From what I've heard as the result of my own place-holding deposit, they will open next year with the first building in the complex almost fully sold out. I have not heard of their plans to break ground on the second phase.
The selection of the developer who would be permitted to build in TV, as well as all of the details (architectural review, integration into the community, prices, etc.) were negotiated between the developer of TV and senior housing developers seeking to build on the site. I've been told that those discussions and negotiations reportedly took several years to finalize. As you might imagine, very little if anything has been left to chance. It'll be first class, just like the rest of TV.

The best way to get some infoprmation on the development is to call or write Brookdale. Then you'll almost certainly get accurate information.

[tonycirocco]

Went by there yesterday and was sad to see some 50-100 huge oak trees on the south edge cut down. >:(

[nONIE]

Toncat,

Im with you, it really kills me to see perfectly healthy big trees cut down to make way for construction. :(

Im not a tree hugger, just someone who loves and appreciates nature.

[Cassie325]

While it is sad....there is a lot of land that has had to be destroyed to make new buildings...knowing Brookdale and TV's....my guess is that they will replace most of them and it will be beautiful once again....

[bacchus6]

Thanks again, all. To Villages Kahuna, and I'm sincerely not meaning to be rude (perhaps a bit facetious)--just responding:
1) the $1k deposit you're talking about is for the waiting list, not a real deposit (usually $10k or 10%+).
2) We can see the webcam and the # of stories--i don't think anyone was saying FP is still in the planning stages or anything like that.
3) at least a few posters indicated that they had not heard of FP or knew folks who had not--so perhaps you are amazed? :).
4) sure, the plans are to open EOY 2009 (i don't think anyone is disputing that)...but how often have you seen projects go past their budgeted timetable?--not saying this one will--just saying it happens.
5) i appreciate your advice to talk with Brookdale, and I did that before ever posting to the thread. As I said, I am an investor--I don't mean anything by this re: Brookdale the company, but asking them only is like asking the guy selling you his car if it's a good car and then buying it immediately when he says "of course it's great"--you'd probably want to canvas other people, who may have good thoughts about it, and who hopefully have no potential conflicts of interest.

[gfmucci]

I received a mailing several weeks ago that said the first building was sold out and they were taking reservations for the second phase that would be built in 2 to 3 years as I recall. I agree with Kahuna: to get the best info on costs, timetable, and amenities, the best source is "the horses mouth", in this case, the entitity developing the product. If you don't trust that source, by all means do further independant research.