The Villages of Lake-Sumter Inc. has closed an $8 million deal on the purchase of property in Fruitland Park.
That property, known as the Pine Ridge Dairy tract, will become the construction site for 2,038 new Villages homes.
The Villages’ plans call for Premier class homes priced from $750,000, more than 1,700 Designer homes priced from $500,000, and 189 Villas priced from $220,000. It is estimated the homes will generate $1 billion in sales.
The new site will include three Villages and three community centers.
It will be a financial windfall for the city of Fruitland Park bringing the city $13 million in impact fees and building permits.
However, city leaders have also admitted that it will fundamentally change the city. The city is currently looking at a charter review which could change its representation from at-large to districts.
The new Villages will outnumber the current population of Fruitland Park.