Make us your home page
Instagram

Does Tampa Bay have right latitude for a Margaritaville retirement community?

A rendering of Latitude Margaritaville Daytona Beach, the first of planned "active adult'' communities inspired by Jimmy Buffett's hit 1977 song Margaritaville and the laidback, tropical lifestyle it evoked.
[Courtesy of Minto Communities Florida]

A rendering of Latitude Margaritaville Daytona Beach, the first of planned "active adult'' communities inspired by Jimmy Buffett's hit 1977 song Margaritaville and the laidback, tropical lifestyle it evoked. [Courtesy of Minto Communities Florida]

For baby boomers in their golden years, wasting away in Margaritaville could soon become a happy reality.

Tampa-based Minto Communities Florida has teamed with Margaritaville Holdings to develop "active-adult'' communities inspired by the 1977 Jimmy Buffett hit that still evokes boozy tropical fantasies.

A sales office for the first Latitude Margaritaville is already under construction in Daytona Beach and is expected to open this fall. When completed at an estimated cost of $1 billion, the community just off Interstate 95 will include 6,900 homes, shops and shuttle service to a private beachfront club.

Another site in a coastal, resort community outside of Florida is under contract and is expected to be announced soon, William Bullock, Minto's senior vice president, said Monday. The company is looking throughout Florida and other coastal areas of the United States with access to good health care and a major airport.

"We don't have a specific deal but (Tampa Bay) is one of the markets that would meet the criteria,'' he said.

With the nation's 50 and over population expected to swell to 132 million by 2030, builder confidence in the adult housing market is at it strongest level in years, according to a recent survey by the National Association of Home Builders The survey also found that 65 percent of buyers over 55 prefer a suburban setting to a rural or central- city location and nearly 80 percent want a single-story home, ideal for "aging in place.''

The Daytona Beach community planned by Minto and the holding company will reflect a "no worries, tropical vibe,'' the firm said in a release. Indoor and outdoor restaurants will feature "signature Margaritaville'' food and beverages (but, presumably, no lost shakers of salt.) A band shell will provide a venue for live music including Buffett classics like "Changes in Latitude'' and "Cheeseburger in Paradise.''

Plans also call for "walkable'' neighborhoods and a town center with a marker showing the exact latitude and longitude. Prices in Daytona Beach and other Latitude Margaritavilles will run from the low $200,000s to about $350,000.

"We want to make this as attainable for as many people as possible,'' Bullock said

A subsidiary of a Canadian-based company, Minto Communities has built more than 25,000 homes in Florida. It is the master developer and builder for the final stage of Sun City Center, a 55+ community in southern Hillsborough County,

Buffett, who was born in Mississippi but popularized a laid-back Florida lifestyle, has parlayed his fame into lucrative business ventures that helped boost his income to $40.5 million last year and put him 66th on list of Forbes' 100 top paid global celebrities. Margaritaville resorts and Margaritaville and Cheesburger in Paradise restaurants are in several states including Florida (though none in the Tampa Bay area).

Contact Susan Taylor Martin at smartin@tampabay.com or (727) 893-8642. Follow @susanskate

Does Tampa Bay have right latitude for a Margaritaville retirement community? 03/06/17 [Last modified: Monday, March 6, 2017 4:57pm]
Photo reprints | Article reprints

© 2017 Tampa Bay Times

    

Join the discussion: Click to view comments, add yours

Loading...
  1. Appointments at Shutts & Bowen and Tech Data highlight this week's Tampa Bay business Movers & Shakers

    Business

    Legal

    Retired U.S. Navy Commander Scott G. Johnson has joined Shutts & Bowen LLP in its Tampa office as a senior attorney in the firm's Government Contracts and Corporate Law Practice Groups. Johnson brings 15 years of legal experience and 24 years of naval service to his position. At Shutts, Scott will …

    United States Navy Commander (Retired) Scott G. Johnson joins Shutts & Bowen LLP in its Tampa office. [Company handout]
  2. Macy's chairman replaces ex-HSN head Grossman on National Retail Federation board

    Retail

    Terry Lundgren, chairman of Macy's Inc., will replace Weight Watchers CEO Mindy Grossman as chair of the National Retail Federation, the organization announced Wednesday. Grossman stepped down from her position following her move from leading St. Petersburg-based HSN to Weight Watchers.

    Weight Watchers CEO and former HSN chief Mindy Grossman is being replaced as chair of the National Retail Federation. [HSN Inc.]
  3. Unexpected weak quarter at MarineMax slashes boating retailer shares nearly 25 percent

    Business

    CLEARWATER — Just when you thought it was safe to go back into the water, a boating business leader issued a small craft warning.

    Bill McGill Jr., CEO of Clearwater's MarineMax, the country's biggest recreational boat retailer. [Courtesy of MarineMax]
  4. CapTrust moving headquarters to downtown Park Tower

    Corporate

    TAMPA — CAPTRUST Advisors, a Raleigh, N.C.-based investment consulting firm, is moving its Tampa offices into Park Tower. CapTrust's new space will be 10,500 square feet — the entirety of the 18th floor of the downtown building, which is scheduled to undergo a multi-million-dollar renovation by 2018.

    CAPTRUST Advisors' Tampa location is moving into Park Tower. Pictured is the current CapTrust location at 102 W. Whiting St. | [Times file photo]
  5. Good news: Tampa Bay no longer a major foreclosure capital of the country

    Real Estate

    Once in the top five nationally for foreclosure filings, the Tampa Bay area no longer makes even the top 25.

    A few short years ago, Tampa Bay was a national hub for foreclosures. Not any more. [Getty Images/iStockphoto]