Florida Retirement Hub The Villages Seeks $180M Bond Issue for Expansion
Florida's massive retirement community, The Villages, plans to issue $180 million in bonds to finance 3,860 new homes and expand its sprawling facilities.
The Villages, a massive retirement community in Florida, is seeking to issue approximately $180 million in bonds to finance the construction of new homes, according to Bloomberg.
The community spans roughly 230,000 dunams and is home to 170,000 residents aged 55 and older, making it the largest retirement community in the world. Between 2010 and 2020, it ranked as one of the fastest-growing urban areas in the United States.
The upcoming bond issuance will fund the construction of 3,860 new housing units alongside new amenities such as golf courses and recreational centers. Last year, the town borrowed about $127 million for the initial development phase as part of a broader plan to add 6,670 new units.
Located an hour's drive from Orlando, The Villages aims to expand its population to over 260,000 residents across 130,000 homes in the next two decades. So far, 83,400 housing units have been sold, with over 2,100 homes sold this year alone at an average price of slightly under $500,000.
