Brownwood will be highlighted by Paddock Square, a town square where residents can gather for entertainment. Brownwood's design will incorporate architecture of Old World Florida in the 1800s when cattle hunters and cowboys roamed the state. With the new town center and the two existing town centers of Lake Sumter Landing and Spanish Springs, there will be one million sf of retail in the Villages.

Orlando-based Crossman & Co. is the leasing agent for the Villages' retail space. Crossman & Co. managing director John Crossman tells GlobeSt.com that the project is still in the development phases. It is expected to break ground within the next few years. Development costs and an anticipated completion date have not yet been determined.

"We've just started to begin discussions with potential tenants, but no leases have been signed at this point," he says. "We expect the tenant mix to be similar to the two existing town centers."

Lake Sumter Landing's Market Square has 455,555 sf of restaurant, retail and office space. Current tenants include AAA Travel, Van Heusen, Enterprise and RJ Gators. Spanish Springs has 375,455 sf of retail space with existing tenants including Rialto Theater, Toojay's Gourmet Deli, Foot Solutions and Ruby Tuesday.

The two existing two centers are 98% leased, Crossman says. "With increasing anticipation to locate in the Villages, retailers realize the indisputable success of the existing town centers and are excited about opportunities with a third center," he says.

The Villages is a single-site development over 25,000 acres in three adjoining counties in Central Florida. Family-owned and operated for more than 40 years, the Villages currently has 63,000 residents with a projected build-out of more than 100,000 residents.