The Villages seeks $130M muni bond deal to fund 2,800-home expansion

The Villages is betting big on the municipal bond market to keep its housing boom alive.  The sprawling 57,000-acre retirement empire in central Florida is selling nearly $130 million in high-yield municipal bonds to fund a 2,800-home district, Bloomberg reported. The sale, handled by Jefferies and Morgan Stanley, will bankroll infrastructure for the next phase of The Villages’ long-term buildout, such as roads, bridges, irrigation and 36 new golf holes.  The project is part of a 20-year plan that could swell the community’s population by 60 percent to roughly 260,000 residents by 2045. The deal comes with notable risk. The […]

This article originally appeared on The Real Deal. Click here to read the full story.