0 Hwy 27, Davenport, FL | Davenport Land
US - Davenport, FL
HK$18,803,000 | 5.56 acres
Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to present the opportunity to acquire Lady Lake Square (the “Property” or “Site”), a±24.00-acre Multifamily development site located in Lady Lake, Florida, a rapidly growing, highly desirable suburban area neighboring The Villages MSA. With a Development Order already in place for a 288-unit multifamily property, a developer can quickly capitalize on the outsized demand fueling the multifamily space in Central Florida.
The town of Lady Lake is located immediately adjacent to The Villages. Founded nearly 30 years ago, The Villages is the largest active adult community in the U.S. with over 130,000 residents and the fastest growing MSA in the country over the last 10 years. The Villages comprises approximately 65,000 homes and consistently ranks among the fastest-selling master planned communities in the country.
The Site also benefits from immediate access to the most prominent retail corridor in the surrounding area and further adding to the location’s appeal is a top-rated school district and high-quality employment opportunities in the healthcare field with UF Health the Villages and AdventHealth the Villages Center for Health located less than 3 miles away.
The Site’s strategic location neighboring the Villages and the US-441/27 retail corridor coupled with the explosive population and record-breaking demand for multifamily opportunities in Central Florida, position Lady Lake Square as a one-of-a-kind development opportunity in the fastest growing state in the country.
IN PLACE APPROVALS
Lady Lake Square is a rare and unique multifamily development opportunity with a Development Order issued, poised to benefit from the explosive growth in Central Florida.
NATION-LEADING GROWTH FUNDAMENTALS
Since 2010, the population within The Villages MSA has grown by 45% to an estimated 132,000, making it the fastest-growing metro area in the United States. Fueled by the continued expansion of The Villages master-planned community, this rapid influx of residents has led to a robust economic expansion that has increased employment by 4.7% over the course of the past year .8% faster than the United States during this same time frame.
SEVERELY UNDERSERVED MARKET
While the development of for-sale residential housing has been booming in The Villages, development outside of The Villages has failed to keep up with the tremendous growth occurring in the region, positioning Lady Lake Square to benefit going forward.
ABILITY TO CAPTURE MULTIPLE RENTER DEMOGRAPHICS
The Site’s unique location adjacent to The Villages allows it to capture demand from multiple sources. Demand will be robust from the 65,400 employees working in and around The Villages is extremely underserved by the current housing stock and will continue to be as the labor force within the PMA is projected to steadily outpace the state of Florida’s employment growth.
ACCESS & CONNECTIVITY
Proximity to US-441/27 offer superb connectivity to surrounding retail and demand drivers. An existing traffic signal exists at US-441/27 and Old Vineyard. A new traffic signal is being installed at US-441/27 and County Road 25.
Lady Lake’s strong healthcare presence resulted in a surge in high quality employment and high-income jobs – a trend that is expected to accelerate as the market continues to grow.