Jimmy Buffett To Open ‘Margaritaville’ Retirement Community
Jimmy Buffett is taking a break from his chain of Margaritaville restaurants and plans to develop a 55+ Margaritaville retirement community.
JIMMY BUFFETT’S MARGARITAVILLE RETIREMENT COMMUNITY
Or as Buffett prefers, “55 and better.” The community called Latitude Margaritaville, will open a first branch in Daytona Beach, Florida. “Inspired by the legendary music and lifestyle of singer, songwriter and best-selling author Jimmy Buffett, your new home in paradise features exciting recreation, unmatched dining and FINtastic nightlife,” says the official website.
— Margaritaville (@Margaritaville) February 16, 2017
The project is expected to cost $1 billion, and aims to create around 7,000 new properties. The first location has already racked up 10,000 registrations since its announcement two weeks ago. It will be a collaboration between Buffett’s Margaritaville Holdings and Minto Communities.
“It’s going to be a very fun place,” says Minto president Bill Bullock. “We expect our first residents to be living in the community by late summer of 2018.” The sales office plans to open in late 2017, with homes starting in the low $200,000s.
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