Rumor: Developer has sold future building rights?
 

Someone at the golf course told us that the Developer (Morse family) has sold all future building rights to an unidentified entity and are leaving this area to start a new "Villages" community in Texas.

Has anyone else heard this "rumor"?????

Dunno
 

but I have heard this same rumor for at least the last 2 1/2 years. I'm from Texas and none of my friends have heard anything about "The Villages" being set up there, either. Guess time will tell, huh?

That story is more than 5 years old.....has become an urban ledgend.

Someone asked this of Mark Morse...either in a state of the Villages address or VHA Q&A. Anyway, his answer was that he bought some land in Texas for hunting, i.e. for personal use and no they had no intent to duplicate the Villages concept in Texas.

I can easily imagine the developer duplicating the concept in another location, but I can't understand why he wouldn't continue what was started in FL. Doesn't make any sense whatsover. There would be an opportunity to make money in both locations.
But I defer to '07, who from my experience knows what she's talking about.

With the uncertainty of the real estate market and lending institutions, can you imagine any company spending 3876539877665 billion dollars to buy this community right now?

Funny....two days ago my daughter came home from the Charter School and told me that one of her friends was moving to Texas. When I asked her why....she said "her Dad has to go work there for Mr. Morse because they are building a new villages there" hhhmmmmm.......

I have also heard this deal. First heard it about 3 years ago. I have asked the main man myself. and got this reply. Not Happening!!! But things do change. I do know that they own alot of property in Tx. and out in the Northwest also. I know some of the contractors in TV also own big ranches in Tx. But they are Hunting Ranches. Would be hard to build a Retirement communtiy where those are located.
Also I would Imagine that someone would have to pay quite a few SHINNY PENNIES for this land..

I checked with a contact in TX. he knows the people here. He hasnt heard a thing yet. But his ears are open....


Money OUT

You know that it is possible that Mark Morse would take known good contractors to Texas to build his home there.

If the developer has found property in Texas and wants to duplicate TV there, it sounds like a reasonable business decision and I would hope that investment into the project is possible.

TV is about 6-10 years from total build-out, and the population of the country is aging. Replication of TV elsewhere, especially in another state without an income tax and fewer water restrictions, makes sense.

Putting such a project together is not something that one does in a couple of months. Dealing with state and local governments for all sorts of tax concessions, zoning changes, water rights, and a myriad of other items are efforts that move at the pace of snail and have a habit of looping. Also, prudent business logic is to have projects overlap.

If the TV developer has interest in re-doing TV elsewhere, I say Good Luck and thanks for making the Florida TV so enjoyable.

Steve,
Very good points. Maybe he is planning for a follow-on project for once TV is complete? That could be a very real possibility I guess.

Depending on the build rate, which flucuates daily, it could take as much as 2-3 years to build out the north side of 466a. I keep hearing all is put on hold for the south side of 466a and that it might be for sale. Last couple of weeks have been real busy doing new homes. now it has slowed down alot again.
If they were to build in TX or which ever state, there is alot involved that most dont know is involved. Like SteveZ said, there are zoning issues, water rights issues, irragation issues, A whole bunch of Gov and State issues with bonds and all. Then you have to have the suppliers and contractors that will go on board and give you the best prices possible. Texas is big and nice, but you got to have the right place there to do it. Everything would have to fit nicely in that area.
See what happens. But I do keep hearing about the sale of the land, just dont know what will happen.

Money out

During the last ten years of my printing career the company that I worked for was bought three times. Each time we got larger until we were the largest printing company in the world. Before each takeover (buyout) the company denied it was going to happen. Mr. Morse would be silly if he doesn't expand his empire with the terrific formula he has developed at TV. The weather in south Texas is pretty nice year round.

I am not a rumormonger, but............
 

I have often wondered if it would be possible for the family to simply decide to issue an IPO.

Boomer

After reading the recap on the VHA meeting, it would seem that they are not selling, they are talking about makeing Brownwood happen and building more. So it would seem that eventially the south side of 466a will happen. maybe alittle slower but will happen. Sounds like Brownwood will be nice.

Money Out