[crash]

Originally Posted by Bob in Fishers

As long as we live in a free enterprise system property owners can buy sell develop as they see fit

Which is fine except they seem to be able to change the zoning to whatever they want. It is this ability that scares me. How many apartments could they build on the polo field. The other thing is that we need to stop letting them share amenities and the building of apartments would stop.

[joeharing]

Time for storage facilities to be erected, the most income producing per square foot enclosures on the planet. Oh yes, they can be several stories high. UP up and away !!!!

[maryl]

I agree and I am so glad I am out of there I seen this happening now the Villages is no longer the place to live
And the siblings that are ruining it I wish them bad luck for destroying there parents dream

[dewilson58]

Originally Posted by Villages Kahuna

. To increase the value of the Morse ownership more retail, apartments, or somehow monetizing their ownership of everything in The Villages not owned by residents will be necessary.
.

I don’t have any inside information, but I did retire after a long career as an investment banker. .
.

What were your assumptions in order for the family to cash out with a billion each?? 10% return on apartments, 90% occupancy, five times earnings, etc. Jus wondering. My quick and dirty indicates it would be over 100,000 apartments. They have less than 1,000 apartments now. I don't think the sky is falling in my lifetime.


Please share...............we bean-counters need facts.

[Madelaine Amee]

Originally Posted by UseYourBrain

He commercial properties are empty because they charge too much rent. Just lower the rents and have them filled out and they would be making more money through volume

This I can comment upon ........ Southern Trace used to have a small, very good, local jeweler. Their rent was increased causing them to look for another property. The store is still empty. A great little family business has relocated out of TV.

[Bill1701]

I'm sure the developer has researched all this and knows what they are doing. If there wasn't a demand for apartments, they wouldn't build them. Many older people here, and that means the Spanish Springs area, can no longer keep up their homes and don't want to move away. An apartment meets their needs.

[Rsenholzi]

Interesting thoughts! Thanks for sharing them

[justjim]

OP, you have made some good business points. However, for residents to believe that building a few apartments inside the bubble will somehow “destroy” The,Villages as we know it is a stretch in my opinion. Simply put, the Developer saw a need for apartments and it was a good business decision to build them. Building the Lofts was a good decision as it brings more possible business to Brownwood. I am told there is a waiting list for the apartments. Crossing Rt 44 also is an enhancement for the Developers money outlay for their Brownwood investment. I don’t see what is happening in Southern Oaks area (south of 44) as making much or any traffic concerns for the northern half of The Villages. As far as Katie Belles and Hacienda Country Club being turned into apartments, time will tell on these projects. In short, when there is no longer a demand for upscale apartments within the bubble, they will cease to be built. I don’t see any of these recent “business decisions“ affecting my lifestyle here in The Villages. “You can’t unring the bell.” Anonymous.

[JohnN]

Why? Simple ......... $$$$$$$$

[msimon2310]

Not sure I agree on BBC two fronts.

First: The space occupied by the original club is not practical for traditional homes as they could only fit a few. An apartment complex on the other hand will allow many more living spaces especially one 3 floors or more. I think this is more of a density issue and how to maximize the return on the space that is there.

Second: the family already has a very substantial income from commercial property they are renting; the championship golf courses and numerous other places where they seem to have their little hands.

I do not think ‘cashing out’ is what they have in mind. I do think that maximizing the opportunity and increasing the revenue stream are what they are looking for as with each generation there are that many more of ‘them’ to turn into billionaires. I think we should be prepared for them to do thinking outside the box so to speak looking for additional ways to use this space to their best advantage.

Only time will tell.

[72lions]

Your crystal ball may be accurate but certainly not anytime soon. The Villages south f 44 will ultimately be larger than that north with 10-15 years of growths even if no more land is purchased.

I see little change in direction when apartments/condos will mak up 1% of the residents. Frankly I’m surprised that the early multi family buildings in Spanish Springs and Glenview weren’t carried forward over the last 20 years.

[Villagesgal]

I have lived here for 19 years and have heard all this for 19 years. It's nothing new, yet it has not happened yet and probably never will. When we moved here we were told there would never be any assisted living facilities here, that residents would move back home when they needed help to live, well guess what, when the developer saw a need 100,000 people later who didn't want to leave here as they got older, they changed their minds and built assisted living facilities within the Villages. Good for the developer and good for us who live here and don't want to leave. This benefits them and us. Now the developer is building apartments for those who do not want to maintain a home, but are not ready for assisted living. Again, a move that benefits us and the developer. People were up in arms when the developer started building family sections. This was to draw top doctors, dentists and other professionals to this area for the residents. When we moved here there were very few doctors here and they were terrible, you had to go to Ocala, Leesburg or farther to find a decent doctor or dentist, now because of great family housing and a top notch school you have many good doctors and dentists to choose from. People complain about a few empty store fronts, when we moved here there was only Spanish Springs, nothing else, you had to drive to Ocala or Leesburg for shopping, no Lowes, no Home depot, nothing. The developer has a 20 to 30 year plan, always did and it keeps extending out. So many posters have only lived here a short time and don't have a real idea of the changes here in the Villages and how they have profited the developer AND the residents. As far as the family, they have always seen to it that their children are educated in ways that will further the family business. Those who say they are greedy are crying about some slight they see that doesn't fulfill their own wishes. Through the 19 years I've lived here I see all the things we now have that enrich our lives, all done by the family to enrich their pockets which have also enriched our lives. The sky is not falling, enjoy the years you have left.

[ValSetz]

Saw the same thing happen with Independent, Assisted and Memory care units. You are spot on. In 2010 I was looking to move my mom into assisted living. There were a number of new facilities all on the outskirts of the Villages. All of a sudden we had a flurry of new facilities built inside the Villages.

[tophcfa]

Originally Posted by Annie66

I just hope your musing does not give the developer a thought they didn't have before your post.

Really, an enterprise the size of the Villages has consultants and investment bankers feeding them every possible option. It’s just which options the current generation of decision makers pursues.

[tophcfa]

Originally Posted by Bob in Fishers

As long as we live in a free enterprise system property owners can buy sell develop as they see fit

You are absolutely correct, within zoning constraints of course. But it needs to be added that the “as they see fit” part can vary greatly depending on their time horizon and end game plan.