Jimmy Buffett to open Margaritaville retirement community in Florida

(Latitude Margaritaville)

DAYTONA BEACH, Fla. – Imagine a world where you can waste away in Margaritaville all day long and eat Cheeseburgers in Paradise in paradise.

Legendary singer Jimmy Buffett is creating that exact world for those who have moved on to the retirement years.

Buffett is creating Latitude Margaritaville, a planned community for retirees with its first location in Daytona Beach. 

Described on the website as being a place where people can "escape to the place where fun and relaxation meet," Latitude Margaritaville will offer new homes starting in the $200,000 range, with higher end prices coming in at $350,000.

ABC News reports the $1 billion community will feature 7,000 homes, as well as pools, spas, beachfront access and fitness facilities.