Lady Lake Brochure

LADY LAKE

THE VILLAGES

The Villages is the largest active adult community in the world planned for an estimated 75,000 homes. The boundaries encompass over 32 square miles in Central Florida, encompassing portions of Lake, Sumter, and Marion counties. The Villages started in Lady Lake in 1978 and grew from there. Because of its size, the Villages is a Census Designated Place (CDP) with an estimated 2019 population of 122,460. It is consistently ranked as a very high growth area. Lady Lake and Leesburg have been significantly impacted by its proximity and growth, which continues to increase pressure for additional development in the immediate area. The Villages comprises 17 special-purpose communities and hosts 50 golf courses. “Free Golf for Life” is a key element of the Villages

marketing campaigns luring retirees from across the country and around the world. In 2017, Forbes magazine named the Villages one of The 25 Best Places to Retire in the United States. Demand for expansion of the Villages continues today, demonstrated by a recent acquisition of an additional 8,000 acres to develop. The 65+ age sector accounts for over 56% of the Villages CDP population. As this sector of the population progresses in age, the demand for additional ILF, ALF, and MC facilities continues to increase. This makes the subject property’s entitled site ideal to meet a portion of this demand now and in the future.

Lady Lake is an incorporated town in Central Florida and is the northernmost town in west Lake County. It is situated approximately 42 miles northwest of Orlando and 22 miles southeast of Ocala. The city of Leesburg, Lake County’s second largest city, is five miles south of the southern end of Lady Lake and the subject property. The Villages—the largest master planned, age- restricted community in the United States—is immediately west of the subject property. Lady Lake and Leesburg have both been significantly impacted by the Villages, making the general surrounding area one of the most popular retirement locations in the country. As of the 2013 census, Lady Lake itself had a total population of 14,535 with over 60% being 65 years of age or older. This is an unusually high percentage of aging residents compared to nearly most all other areas of the country , primarily due to the area’s vast retirement communities.

The Primary Market Area (PMA) for ALF/ILF/ MC development is a five-mile radius around the subject property. Within this PMA, the 65+ population was 26,918 in 2010, representing 47.7% of the area’s total population. This figure increased to 34,883 in 2017, representing 52.5% of the area’s total population and a 29.6% increase over the year 2000 levels. By 2022, this sector is projected to increase to 41,726, representing 55.3% of the area’s total population and a 19.6% increase over 2017. The retirement age population in the area is dominant and anticipated to continue to grow over the foreseeable future. The subject property is midway between two major medical facilities providing a full range of preventative and emergency care. Villages Regional Medical Center, a full-service, acute care hospital licensed for 297 beds, is approximately 4.5 miles north. The Leesburg Regional Medical Center (LRMC) lies six miles southeast of the property. LRMC is Lake County’s largest tertiary care hospital with 329 licensed beds and a full range of services.

The 65+ demographic makes up approximately 60% of the Villages/Lady Lake area population.

ALF/ILF DEVELOPMENT OPPORTUNITY - LADY LAKE, FL

Cushman & Wakefield | 9