New Apartments-near Fenney
 

How close is this?


EDEN Living, with a “mission to redefine an underserved segment of the rental population,” is about to start construction on a new horizontal-apartment project just south of the Village of Fenney.

The development will include 130 build-to-rent units on 15 acres.

EDEN plans to break ground in June and expects to complete the project in September 2023. It closed on the site at 2072 County Road 501 on April 11.

It's about 3/4 of a mile south of Warm Springs on Marsh Bend Trail. It's just east of the southern portion of McClure.

Looks like a high end development and another nice alternative for living in the area , the developer has a history of building quality life style apartments .

Not the end of the world. High end. Quote from the news site that everyone hates

This high-end build-to-rent project complements the tremendous growth occurring in The Villages area,” said Jay Jacobson, CEO of EDEN Living. “The project site is surrounded by large-scale developments, many golf courses and an abundance of commercial and retail space. We are filling a void for new multi-family product in the area.”

Not sure how “high-end” apartments fill an “underserved segment of the rental population”? High end apartment dwellers aren’t the people that are going to work in the new restaurants so they can finally open up!

do you think only low wage people rent apartments , plenty of professionals are either already here or soon will be , medical professionals , business people , white collar jobs in the villages and surrounding areas , and probably some villagers who have grown tired of living in there homes , options the more options for everybody the better life will be here

Yep, adjacent to McClure and across from Monarach Grove, and along the northern border of the Coleman Federal Correctional Institution so they will have some nice long term neighbors.

Think there is some retail space also planned in front along 501.

They can play the Championship courses and rent a cart.

Whooo, could this be? Oh my! They are coming……..
Jumping to quick conclusions.

This is a drop in the bucket compared to what Wildwood approved for the 462/Powell Rd and 466A area.

Hugh Apartments complexes IMO are popping up around bubble more than churches and bars. Off 446, 441, 301, Powell road, CR42. That’s only ones I noticed or read about. Funny how the proposed complex other side Phillips got disapproved….

Not sure what this means. There are a lot of threads about apartments coming in and around various parts of the Villages.

Probably the # 4 most popular topic after Dog Poop, Speeding Golf Carts, Free Golf and Course Conditions

I have been keeping track - see attachment.

Agreed. Not everyone wants to deal with lawn care, home repairs, etc.

It's across from the entrance to Monarch Grove not Linden and there is another 20 acre parcel next to this parcel to the south that is for sale or may have been sold by now. The parcel that this development is on had a sign out front for a couple years with the price proudly displayed on it, 20 acres $6,000,000.00

Fenney must be considered the landmark of the southern villages. This development is closer to the entrances of Monarch Grove, Linden, Marsh Bend, McClure, and Desoto than it is to Fenney.

Means there aerent any high cost rentals here just medium

There ARE many golf course not in villages! Don't be ethnocentric!

No bonds. No amenity fees. No maintenance. No mortgage payment. Good for working professionals. Allows mobility.

Only 6 million????
 

Wow only 6 mill. A bargain about $50,000 per apt or the most expensive retail space rent in the area . unless a bank buys it.

I'm just worried about where their dogs are going to poop.

Where ever they want.

Championship golf open to public
 

They won’t have access to executive courses but they will have the ability to pay to use the many championship course that are built or planned to be built.

The 50 plus holes of Villages Championship golf in place and in progress a mile or two down the road are clearly a benefit to this development.

ATTENTION. This is NOT a “Villages” project. Residents will not be “Villagers” per se. Morse wouldn’t pay the asking price so it will be a sore thumb in the middle of Villages land. The drawings look very dense.

You can say that again.....

https://www.multihousingnews.com/wp-...eal-Estate.jpg

And right next to them is another "NEW" development. Zora Wildwood. :22yikes:

Cash Flow Can Be Monetized As A Public Company….
 

…. The sale of individual homes does not provide the certainty of cash flow required by the equity markets. I’ve said before, it appears as though the Developer (and those that have a say in the family) are setting up The Villages for an Initial Public Offering, making it a public company.

With ownership of the company now in it’s fourth generation, the internal family stresses and strains have to be difficult. Taking TV public, giving the various family members “their share” in newly issued shares solves the problem. They will have “cashed out” and would have several options…

• They could sell their shares, resign their positions in TV management and retire to a luxurious vacation.
• They could decide to try to increase their ownership share by buying out other family members who might not want to continue as “the Developer”.
• The whole ownership structure of TV could change if an outside investor, like a large home builder or a financial investor, consolidated ownership by gaining majority control by buying a majority of the public shares.

It’s only my opinion, of course, but it appears to me that the Developer is setting up the structural cash flows to set up an initial public offering of the ownership of The Villages.

That was Fruitland Park. And yes…I wonder why? Maybe water service.

Wow!

You are way beyond my understanding of the business world.

I'm just worried about the additional dog poop that will be generated by the new development.

OP, I don't understand the motivation behind your post...are you against this, or merely fulfilling the role of a town crier?

More info, looks like a nice option for young professionals working in the area or retirees looking for maintenance free living.

Our Projects - Eden Living

I thought it was pretty clear - I asked “How close is this”. I.e. where is it.

I was just wondering if anyone knew exactly where they were building the apartments. Full timers talk in terms of route names, etc - I’m a part timer, I understand landmarks better, Fenney Grill, Southern Oaks Golf Course, the Publix, etc.

I could not care less about apartments. I live within walking distance of Brownwood, the apartments there do not affect my life one way or another, except I often cut though on my return trip from the square.

Apartments in SS, go for it.

Unless they are Village Residents they can only golf the Championship courses. Exec not opto to residents of Lake Sumter and Marion counties

We checked out the Lofts (at Brownwood) a couple years ago and overall didn’t think they were so called “high end rentals” at all. Rental prices were high but in our opinion the Lofts were cheaply build. To each his own. The new minimum wage of $15 won’t support a $1500 a month (plus utilities) apartment. Even at $1000 a month rent it would be difficult to get by without a second person in the household working too. The active labor pool in this area is exhausted.

The villages going Public
 

I don’t have any “inside information” but you could be right. The immediate “family” members are already billionaires so who knows how much longer they might hang as sole owners. We may not live long enough to find out.

Except for the pools, it looks kind of like a prison.

These apartments will be in prime location
 

It seems to me this land owner sold too soon. These apartments will be just north of Eastport and Middleton and just west of the healthcare facilities in Lake Co. There will be 4 Championship golf courses within a very short distance. They may not have "The Villages" lifestyle but not to shabby IMHO.

Maybe. But from what I've been reading these apartments are of only two kinds: 1-bedroom 1-bath units of around 780 square feet of floor space, and 2-bedroom 2-bath units of just over 1,000 square feet of floor space. Nice for single people and couples, or young families with at most two kids, but certainly not beyond that. Garages pictured are the one-car variety: ones you can find in most apartment complexes, probably for additional amount of rent. Plus there doesn't seen to be an overabundance of outside parking. Families often have two or more vehicles.

The whole thing; 130 apartments plus garages, is shoehorned into 15 acres. "Tight" is a mild term to use in this instance. I'm not sure how "high-end" is being used to describe this place.