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The Villages
Friday, August 19, 2022

AAC to consider $7.7 million purchase from Developer of two villa recreation centers

The Amenity Authority Committee this week will consider the $7.7 million purchase from the Developer of recreation centers in two villa communities.

The construction of 300 homes at the Phillips and Soulliere villa communities in Community Development District 4 was announced in 2015. Those communities have been finished and now the Developer is ready to turn over to the AAC the ongoing maintenance and responsibility of the upkeep at the recreation centers.

A purchase price of $7.7 million has been reached.

A review revealed some items needed to be corrected by the Developer prior to the sale. Those include a modification of the chairlifts at the two pools and a shuffleboard court needs metal stitching and resurfacing.

The AAC will begin collecting the amenity fees paid by the 300 homes after the sale closes. It is estimated the AAC will make its money back on the $7.7 million purchase in 14 years.

The AAC will meet to discuss the purchase at 9 a.m. Wednesday at Savannah Center.

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