The developer sells 250 new homes per month. He should be able to fill his commercial buildings when they are built. Not 7 years later. But let's hear more how this is all part of the brilliant business plan. That keeping buildings vacant for 7 years is actually brilliant business strategy.

Maybe it's cheaper to age a property naturally rather than the faux Disney look.

There was a very successful restaurant in the spot now leased by Panera Bread. It wasn't seven years vacant.

In fact I liked it better. We were given a free meal there on our Life Style Visit. Someone will remember the name and post it.

That's probably it. I've always said, better to keep rental property vacant than to generate income and owe taxes.

The restaurant was The Veranda. We enjoyed it.

It was "very successful", yet it closed...maybe the lease terms were too onerous? No? It was probably mismanaged.

It was owned by the developer, and closed as part of the move to get out of the restaurant business, as he did with Lighthouse and others.

So you're saying, the developer, a world class business family, shut down a very successful business because they wanted to get out of the restaurant business? That's hard to believe.

They have never wanted to be in the restaurant business. They are developers. All restaurants, they got them running then sold them.

Perhaps it wasn't as profitable as the other hundred businesses they own. It isn't uncommon for an organization to spin off or shutter a portion of its business that is a distraction from its core operations.


Sent from my iPad using Tapatalk

Most everything they run is successful. It is because they know how to change when needed. Why would they close down this restaurant ? because the realized they could get much more rent for the property then they could generate in the food business.

Seems they were correct and we are better served by the new business .

That appears to be the developer's business plan. They owned and ran several restaurants, Southern Life Style Furniture, The Entertainment Department and The Villages Transportation. The Restaurants included The Lighthouse, Cane Garden, and The Veranda in my memory.

These businesses were established for the convenience of people living in The Villages and of course to turn a profit. They were run very well under the Morse management. That appears to be one of the successful components of The Villages that needed businesses were established which sets this development apart from other like developments across the country.

They were established and in the case of some of the restaurants and the entertainment department and the paper then sold to the person who managed it. It appears that it was not in their long term plan to keep them, but they still own the property which is leased to these businesses.

The Veranda was a wonderful restaurant, really much nicer than Panera, in my opinion. They did not fail, any of these businesses. I think that was the plan for The Villages Health System as well, but sadly it is failing. At least I think it was established to fill a need. When we moved here, all of the decent doctors had waiting lists. We were left with shady quacks in many cases who were not board certified and had other not good things in their past. They tried. It appears that health care is not an easy endeavor.

And, of course, one cannot forget restaurants such as Chula Vista, Santiago, Silver Lake, Cafe Ole' and Augustines. We loved those restaurants.

Retail real estate is a difficult business these days. We all point and click on Amazon and all the other internet shopping sites. Everyone wants the best price. Brick & Mortar stores are falling by the wayside everywhere. The Villages may be a bubble, but the residents are educated, intelligent, and certainly shop around. Malls are closing everywhere, strip centers are struggling, Macy's and Sears are closing stores by the 100's.
I have spoken with "the developer" about leasing property to open a business, and the terms were no different than anywhere else. Yes, they were looking for a percentage of top line sales, all GOOD retail centers do. You don't build a development like Brownwood without a long range plan. But it is a long range plan. It would not be prudent for any business person to disclose the long range plan as it would invite speculators that would cut into the profits.
I think it will just take many more years for the right type of business to locate to the squares. Foot traffic and browsers are one thing, but ringing the cash register pays the bills.