Randy, Jeff, and I dive into the murky waters of reserved properties. As a unique gated community, run by a POA (that is a non-profit corporation) Hot Springs Village is different from cities or towns. Hot Springs Village isn’t a municipality. HSV is 26,000 acres of awesome that requires a little more explanation.
For purposes of this Podcast reserved property is property that hasn’t been designated as Residential or Commercial property by the developer, which is not the POA, but a private corporation that started the Village. These properties technically aren’t yet part of the Village. The lots may or may not become part of the Village, at the discretion of the buyer.
We hope you find today’s discussion about the ins and out’s of reserved property inside HSV educational. Thanks for joining us.