The Villages is spending $50.4 million to develop an expanded Middleton Downtown Community Development District near the intersection of Central Parkway and Landstone Boulevard.
Wildwood commissioners voted Monday night to allow the district to add 3.6 acres for a total of 64.7 acres.
The Middleton downtown development is in addition to the Eastport commercial area several miles away.
By the end of this year, The Villages is scheduled to spend the money on infrastructure for the Middleton district, expected to include 350,000 square feet of commercial development.
Expenditures include $26.9 million for parking areas, $12.5 million for landscaping, $6.9 million for earthwork and stormwater collection and $4.1 million for roadways.
Roads, landscaping and drainage will be maintained by the community development district while the landowner will maintain utilities.
The development may include residential units and other mixed uses, according to a statement of the estimated costs.
Infrastructure improvements may be funded with long-term bond financing and property owners may be assessed for the cost.
“The (expansion) of the district is likely to increase economic growth, job creation, employment, private-sector investment and business competitiveness,” the statement asserted.