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In time of economic uncertainty, The Villages move forward

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By Natasha LaFayette

natasha@lafollettepress.com

 

At a time when real estate and the economy seem to have an uncertain future, new owners of The Villages at Norris Lake have announced its persistence to achieve growth and stability.

To announce the official re-opening of The Villages and invite the contributors of the development’s new goals, a ceremonial groundbreaking presentation was held Friday.

MIROBO, a management company and largest shareholder of Emerson Properties LLC., purchased the remaining lots in The Villages earlier this year. Since the purchase of the remaining property, MIROBO partners have worked to secure bonds, finish infrastructure and maneuver some lot owners to better areas in the development.

The groundbreaking was symbolic of the company’s confidence to move forward with selling lots and finishing the development, said MIROBO partner Mike Martinez.

Martinez expects all roads and utilities to be in place by the end of the year and a marina to be established by summer 2010.

During the groundbreaking, there were no shovels or hardhats. Instead, Martinez thanked the people who made The Villages a possibility once again.

Those contributors included executives from several local banks, representatives from the county planning commission, lot owners, The Villages HOE Board and agents with Tennessee Home Finders.

These individuals and additional MIROBO partners appeared confident as they stood at the entrance of The Villages, preparing to cut the ribbon.

“At a time when real estate is uncertain,” said Martinez to the large audience crowding the gate. “The story here is persistence.”

Martinez continued to explain that MIROBO partners overcame many obstacles in order to continue the development of The Villages.

“Every problem we solved there were two more problems that came up,” he said about the continued strength of those involved.

But Martinez concluded by saying the hours and hours of work dedicated to the project were done so multiple generations of people could enjoy what the area has to offer.

“This place will soon be a place of water, laughter and love,” said Martinez optimistic of the developments future.

“Let me be the first to formally welcome you to The Villages at Norris Lake,” he said.