[BrianL99]

So on November 10, the Sumter County Commissioners will likely vote to allow apartments in Sumter Landing, in formerly commercial space along Lake Sumter Landing, Canal Street, Old Mill Run and Lake Shore Drive.

The change will allow "1st floor" space to be used for apartments/residential use, which was previously not allowed.

Here's the dynamic as I see it.

The Developer is having trouble renting commercial space. His argument to the Sumter County Commissioners is, allowing residential use provides more diverse housing opportunities.

I think he's right, but perhaps short-sighted? Requiring the existing commercial space to remain available only for "business", would force lower rental rates. Is this advantageous? It might be. Consider that the Town Squares currently have mostly larger, well-financed businesses/restaurants and choices (& variety) are limited.

Take Mt. Dora as an example. The downtown area, which seems to be packed with people most every day, is dominated by small, "mom & pop" operations, in small retail spaces. I was in a store there, operated only by a woman and her daughter. The store was only about 150-200 sq. ft. She made and sold, organic, homemade lipstick (I didn't buy any). I think micro-businesses might do really well in a community like The Villages.

If forced to leave 1st floor space available only for commercial use, would the Developer be forced to adjust his business model, to allow small operators to rent smaller spaces, devoted to craft type shops? Small, entrepreneurial businesses? One or two people operations? Small bakery? Hair dresser? A dry cleaner? Jewelry? Think about all the businesses that show up for Square events ... could some of them operate on a regular basis, if they could rent a micro-store from the Developer?

I don't really know the answer, but I don't thinking changing ground floor space to residential use, isn't consistent with the Town Square concept.

[Topspinmo]

IMO hard for any business especially in high rent area to compete with Amazon. No one seen the mall failures in most cities years ago when it happened. As long as people will rent there will be more IMO. Lots commercial spaces empty especially in the northern parts away from the 466a and 44 corridors?

[Bill14564]

Originally Posted by BrianL99

....

If forced to leave 1st floor space available only for commercial use, would the Developer be forced to adjust his business model, to allow small operators to rent smaller spaces, devoted to craft type shops? Small, entrepreneurial businesses? One or two people operations? Small bakery? Hair dresser? A dry cleaner? Jewelry? Think about all the businesses that show up for Square events ... could some of them operate on a regular basis, if they could rent a micro-store from the Developer?

I don't really know the answer, but I don't thinking changing ground floor space to residential use, isn't consistent with the Town Square concept.

I would likely spend some time at these shops, just as I spend time at the Mt Dora shops when I happen to be in the area.

Perhaps the concern is that the lower rent attractive to a micro-store would be so out of line with the rents currently being paid in the squares that existing businesses would balk. It might look better on paper to convert commercial space to apartments rather than have empty storefronts providing arguments for lower rents.

[asianthree]

We owned small businesses, go out of my way to shop small. Even Amazon offers small business opportunities.

But small businesses rarely need more than couple hundred feet of retail. The only way to have that happen in LSL is create a store that allows small booth space. That can create a flea/craft opportunity, but would that pay the rent for those smaller businesses? Don’t see TV wading into that market.

[OrangeBlossomBaby]

Originally Posted by asianthree

We owned small businesses, go out of my way to shop small. Even Amazon offers small business opportunities.

But small businesses rarely need more than couple hundred feet of retail. The only way to have that happen in LSL is create a store that allows small booth space. That can create a flea/craft opportunity, but would that pay the rent for those smaller businesses? Don’t see TV wading into that market.

Spanish Springs would be a perfect location for a mini "marketplace" style cluster of shops. Similar to the tiny "mall" in Mt. Dora, you could enter a winding hall from the back or front, like a covered alley. Glass doors and windows on the walls lining the hall display the shop names and wares for sale. Pretty sure Sumter Square has something like this already. Or they used to. Larger spaces could be shared by complementing companies. Baked goods combined with small kitchen gadgets and dining room clothware. A couture scarf and head-covering boutique and a hand-made jewelry display. How about a shop calling itself Lipstick and Loafers, offering small-batch lipsticks, glosses, and stains, and women's mules and other slip-in shoes for women?

And a "smalls" antique shop that features smaller items like WWII Swiss Army knives, Gaobei porcelain tea sets, stuffed bears from the time when Teddy Roosevelt was President, and so on.

[Jayhawk]

Originally Posted by BrianL99

If forced to leave 1st floor space available only for commercial use, would the Developer be forced to adjust his business model, to allow small operators to rent smaller spaces devoted to craft type shops? Small, entrepreneurial businesses?

Why should ANY business be "forced" to adjust its business model to allow businesses to lease at below-market (therefore less profitable for the developer) rates? This seems like a big overreach for something that is not anyone's beeswax, especially for those who haven't put a dime into the investment to begin with.

[asianthree]

Originally Posted by OrangeBlossomBaby

Spanish Springs would be a perfect location for a mini "marketplace" style cluster of shops. Similar to the tiny "mall" in Mt. Dora, you could enter a winding hall from the back or front, like a covered alley. Glass doors and windows on the walls lining the hall display the shop names and wares for sale. Pretty sure Sumter Square has something like this already. Or they used to. Larger spaces could be shared by complementing companies. Baked goods combined with small kitchen gadgets and dining room clothware. A couture scarf and head-covering boutique and a hand-made jewelry display. How about a shop calling itself Lipstick and Loafers, offering small-batch lipsticks, glosses, and stains, and women's mules and other slip-in shoes for women?

And a "smalls" antique shop that features smaller items like WWII Swiss Army knives, Gaobei porcelain tea sets, stuffed bears from the time when Teddy Roosevelt was President, and so on.

I would love to have that opportunity in SS or LSL. Think fresh bread, pastries, generational old world recipes. I just don’t think the developer would jump on the market, probably due to insurance and the need to collect 30 rent checks.

[BrianL99]

Originally Posted by Jayhawk

Why should ANY business be "forced" to adjust its business model to allow businesses to lease at below-market (therefore less profitable for the developer) rates? This seems like a big overreach for something that is not anyone's beeswax, especially for those who haven't put a dime into the investment to begin with.

How about ...

Because his existing Permit doesn't allow 1st floor space to be used for residential use and he's asking the County to change the conditions under which his development was permitted?

& there's no "forced to adjust his business model," he's welcome to keep it exactly as permitted ... 1st floor space has to be commercial. The Developer is the one who has opted to change his business model, switching from Commercial to Residential. If he doesn't switch his model, his space just might remain vacant. That surely doesn't benefit him, nor anyone else.

When you build and own space, you assume the risks that go with it, not just when it works as you anticipated, but also when it doesn't. Your position is similar to the guy who bets $1000 on the Jacksonville Jaguars, but when the Quarterback gets hurt in the first quarter ... he wants his money back. Or the guy who built a huge mall before covid and now can't rent it ... who pays the price for a failed investment? The investor or should the community bail them out?

& it's EVERYONE's business, which is why all residents have input into the decision that's going to be made by their elected officials.

[Stu from NYC]

If it is hard for developer to rent out his retail space perhaps he is charging above market rates.

[jimhoward]

Probably a lot of old people want to live on the first floor. Also, people who live right in the square, will shop in the square every day, more so than people who live a golf cart ride away. It could improve the vitality of the square.

[Jayhawk]

Originally Posted by BrianL99

When you build and own space, you assume the risks that go with it, not just when it works as you anticipated, but also when it doesn't.

And the right to perhaps change with the times?

[Jayhawk]

Originally Posted by Stu from NYC

If it is hard for developer to rent out his retail space perhaps he is charging above market rates.

Wells Fargo came to the realization at one time that transport and delivery of gold dust and mail during the California Gold Rush was no longer profitable. They switched to banking.

Ford made the Edsel. Then they didn't.

Berkshire Hathaway was a textile manufacturer. Now they are a financial conglomerate.

Times change, and so do business plans.

[Jayhawk]

Originally Posted by BrianL99

When you build and own space, you assume the risks that go with it, not just when it works as you anticipated, but also when it doesn't.

Exactly. So you re-evaluate and decide the next step.

Like the developer is attempting to do.

[tophcfa]

What irks me about the apartments in SS and LSL is that the amenities in those areas are fully built out and utilized based on the existing population. It’s already difficult to get Executive golf Tee times or a lane to swim laps in a sports pool in those areas during busy season. Adding to the population of folks with Ammenity rights, without adding additional Ammenity capacity, shouldn’t be allowed in the already built out areas. But as we all know, the man behind the curtain pulls the strings and gets his way regardless of the effects on existing residents.

[BrianL99]

Originally Posted by Jayhawk

And the right to perhaps change with the times?

So you wouldn't mind if the land next to your home, had it's zoning changed to allow a Sewerage Disposal facility?

You're a better person than most.