News-Journal/JIM TILLER Tourists and

other trav elers will hav e a new experience

arriv ing in Day tona Beach in sev eral
y ears, as major improv ements to
Interstate 95 and a wav e of new
dev elopment at Day tona International
Speedway and beachside giv e the city a
new look and outlook.
THE NEW DAYTONA
Wave of projects, road upgrades bring high
hopes for Daytona
By Eileen Zaffiro-Kean
eileen.zaffiro-kean@news-jrnl.com
Published: Saturday, April 5, 2014 at 7:49 p.m.
DAYTONA BEACH The convergence of new
development with plans for major
improvements to local highways and a new
pedestrian bridge and sidewalks near the
Speedway is forming a $2 billion tidal wave of
investment in the city that many believe brings
the biggest opportunity the area has seen in
decades.
If it was just one thing happening it might not
be as significant, but with everything going on
people will see the reason for investing in
Daytona, said Ritchey Automotive Group CEO
Glenn Ritchey, who during his six years as
mayor helped sow the development that's blossoming. They do sense there's a
change in the air, and there's an opportunity for Daytona Beach to realize its full
potential. It's all the pieces in a puzzle fitting together.
Plans call for more than $1 billion of development clustered around Daytona
International Speedway for a grandstand overhaul and a new commercial and
residential complex dubbed One Daytona.
Over $100 million is budgeted for the first phase of a Hard Rock Hotel and Cafe on
the beach.
Another $88 million will be sunk into a Trader Joe's food distribution center.
Hundreds of millions more will pour out for an oceanfront hotel planned by Russian
investors, extensive beachside hotel upgrades, Volusia Mall refurbishing, a new art
museum and new businesses locating in and around Daytona Beach.
Add the $264 million expected to come for pedestrian bridges, widening Interstate
95 from Daytona Beach to New Smyrna Beach and creating new interchanges at U.S.
92 and I-4, and you create new paths to be used by tourists, businesses, residents
and shoppers headed for all that new development.
One Daytona alone is projected to draw 10 million visitors per year.
It's not the Daytona it used to be, said Tim Davis, vice president of investment
sales for Charles Wayne Properties.
The combination of investment and dramatic changes coming to the area's gateways
including the final stretch of four-laning on LPGA Boulevard between I-95 and
Thi s copy i s for your personal , noncommerci al use onl y. You can order presentati on-ready
copi es for di stri buti on to your col l eagues, cl i ents or customers here or use the "Repri nts" tool
that appears above any arti cl e. Order a repri nt of thi s arti cl e now.
Nova Road, vast improvements to Orange Avenue and the new bridge straddling the
Halifax River at Orange Avenue's eastern tip are hoped to pull in a bounty of new
jobs, homeowners and businesses.
While other parts of Florida can also boast about their economic surges and strategic
locations, one advantage the Daytona area has is some of the most affordable coastal
land in the state, Ritchey and Davis said.
Davis uses the new projects in Daytona in his marketing materials to woo real estate
investors.
A packet he put together for a vacant 6-acre oceanfront site just north of the county's
Beach Patrol headquarters includes a map pinpointing sites for the Hard Rock Hotel,
Russian investor hotel and Speedway projects.
He also notes in his promotional package that the available site is 25 minutes from I-
95 and an even shorter trip away from the Speedway.
Davis, who until a month ago was vice president of investment sales for Coldwell
Banker Commercial, said the energy in the area is proving its endurance.
A year ago when the Hard Rock announced, I felt there was a lot more interest than
there had been, but it continues. It doesn't let up, Davis said.
Davis sees the next big area of potential development in the thousands of open acres
around the area where I-4 meets I-95.
He sees it as a prime spot for more warehouses and distribution centers like the
Trader Joe's project planned for a spot just east of I-95. He also sees potential for
industrial development along Tomoka Farms Road between LPGA Boulevard and
U.S. 92.
Deputy City Manager Paul McKitrick said there could be new home construction in
the area west of I-95 and south of State Road 40 as well. The city's infrastructure will
be ready to handle it, he said.
On the west side we're seeing a steady expansion of the LPGA neighborhood and it's
strengthening as mortgage rates stay low, McKitrick said.
He also sees businesses coming to that area.
After Trader Joe's is constructed we'll get more related businesses, McKitrick said.
The Daytona Beach-area economy is definitely on the upswing, and if we handle it
properly we'll have a significant improvement in manufacturing, other business and
the quality of life.
With every inch of I-95 from the Georgia line south to Miami six-laned except for the
15-mile stretch between New Smyrna Beach and Daytona Beach, it was time for that
improvement, said Sans Lassiter, president of a Daytona Beach-based transportation
engineering and planning business.
Lassiter is also holding out hope for passenger rail service coming to Daytona Beach
in the years ahead.
I think these projects will put us on the map in a different way. I'm excited, said
Lassiter, a member of the ISB Coalition, a public-private partnership aimed at
improving the International Speedway Boulevard corridor.
Local attorney Jim Rose joked that it's a good time to be chairman of the board for
the Daytona Regional Chamber of Commerce, better than in 2009.
He hopes the new development can shake off Daytona's image as the raucous Spring
Break capital.
I think this all raises our profile in a very positive manner, Rose said.
Rose also sees a chance for the new development to spread to downtown and other
parts of the city.
Once the real estate market recovers more fully, it will bring back plumbers,
contractors and other workers with healthy salaries that will go back into the
community, he said.
A healthier year-round tourism market could be coming too, he said.
If the Hard Rock comes through I think a lot will fall into place, Rose said. I've
lived here for 32 years and this is the most excited I've ever been about the city.
Copyright 2014 News-JournalOnline.com All rights reserved. Restricted use only.