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Avalon Park Daytona poised to break ground for 1,600 homes, retail space later this year

First phase to bring 1,600 homes, commercial development to area west of I-95

DAYTONA BEACH — Orlando developer Beat Kahli confirmed plans to break ground on the first phase of his massive Avalon Park Daytona Beach development here in the second half of this year.

The native of Switzerland also expects to soon complete his purchase of 6,200 acres of timberland on the other side of Tiger Bay State Forest for his development. He hopes to build a 300-megawatt solar farm, pending regulatory approval.

The initial phase of Avalon Park Daytona Beach will bring more than 1,600 homes and 90,000 square feet of commercial space to an area along the south side of State Road 40/West Granada Boulevard roughly a mile west of Interstate 95.

A number of area residents have raised concerns about the enormous size of the planned Avalon Park Daytona Beach development. But consider this:

The commercial space in the initial phase will be less than double the size of the 53,000-square-foot mega Buc-ee’s convenience store that opened March 22 four miles to the south, next to the I-95/LPGA Boulevard interchange.

Upon full build out, however, the 3,000-acre Avalon Park Daytona Beach development is slated to have 10,000 homes, townhouses and apartments and 1 million square feet of commercial space. The latter would be nearly the size of Volusia Mall.

Kahli said it likely will take at least 20 years to get to that point.

“Look at how long it took for Avalon Park Orlando,” he said. “We moved in the first homeowners in the summer of 1999. It took us five to six years to have the core of the town and more than 20 to finish it. I always like to grow organically. It’s not a sprint, it’s a marathon.”

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Developer completes $40.9M buy of 3,000 acres in Daytona

The developer of the planned 10,000-home Avalon Park Daytona community north of Latitude Margaritaville on Tuesday completed his $40.9 million purchase of more than 3,000 acres. Developer Beat Kahli says he expects to break ground in 2021.

DAYTONA BEACH — Developer Beat Kahli took a big step this week to bringing his vision of creating a new town here closer to reality.

The developer on Tuesday completed a $40.9 million purchase of just over 3,000 acres along the south side of State Road 40/West Granada Boulevard.

“We’re going full speed ahead,” said Kahli, the chairman and CEO of Orlando-based Avalon Park Group and SitEX Properties USA.

Kahli said he plans to break ground on the community called Avalon Park Daytona in 2021.

On full build-out the community is expected to bring 10,000 homes and a 400-acre downtown to the fast-growing area west of Interstate 95. It will be directly north of the Jimmy Buffett-themed Latitude Margaritaville 55-and-older community and ICI Homes’ 1,200-home Mosaic “full life” community off of LPGA Boulevard.

The land sale is the biggest ever in terms of dollar amount in the Daytona Beach area to a single developer, according to John Albright, the CEO of CTO Realty Growth Inc.

CTO was the seller of the 3,015 acres to Kahli’s SitEX Properties USA. Albright’s company changed its name earlier this year from Consolidated-Tomoka Land Co.

CTO’s previous biggest land sale to a single developer was its $27.2 million sale in 2017 of 1,581 acres to Minto Communities, developer of the 3,400-home Latitude Margaritaville.

″(Kahli’s purchase) is an incredible confirmation that Daytona is a very attractive location for developers,” said Albright.

“The success of Latitude Margaritaville (one of the nation’s fastest-growing 55-and-older communities in 2018 and 2019) showed that this area is highly desired,” he added.

Volusia County Property Appraiser Larry Bartlett said the land purchase by Kahli is the third largest in county history.

The biggest was a $81.2 million land sale in 2006 of roughly 5,900 acres in New Smyrna Beach to an entity known as Hammock Creek Green LLC. That same tract of land was sold in 2013 for $61.5 million and is now part of the 47,000-acre Farmton development site in southeast Volusia County that is owned by Chicago, Illinois-area developer Miami Corp.

A 1,600-acre portion of the land that Kahli purchased Tuesday was originally under contract to be sold to Minto as future expansion space for Latitude Margaritaville.

Kahli’s purchase combines both that parcel with 1,000 acres just east of Tiger Bay State Forest that were originally under contract to be sold to ICI Homes Chairman and CEO Mori Hosseini.

Both sites were entitled to accommodate residential communities that would have had thousands of homes and separate neighborhood retail centers.

Kahli’s purchase also included two additional land parcels. One is a 150-acre swath of land directly west of where Hand Avenue currently ends on the other side of I-95. The other is a 286-acre parcel that mainly consists of wetlands on the east side of Tiger Bay State Forest.

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Orlando developer unveils major project near Daytona’s Margaritaville

An Orlando developer has announced plans for a massive 2,600-acre mixed-use development along State Road 40 north of Latitude Margaritaville that could become home to 10,000+ residents as well as businesses. The developer also says Avalon Park Daytona will add more than $2 billion in tax revenues for the city and county.

DAYTONA BEACH — Latitude Margaritaville is about to get a big new neighbor.

An Orlando developer has agreed to buy 2,600 acres of undeveloped land directly north of the fast-growing Jimmy Buffett 55-and-older community here.

Plans call for creating a massive mixed-use development called Avalon Park Daytona, that upon completion in a decade or more, will become home to more than 10,000 residents as well as businesses.

Upon completion, the massive development will stretch along the south side of State Road 40/West Granada Boulevard just east of Interstate 95, from Tymber Creek Road west to Tiger Bay State Forest.

It will be across from Ormond Beach’s Breakaway Trails and Hunter’s Ridge communities on the north side of SR-40.

“The intention is to begin developing immediately, but until the site plan gets approved (by the City of Daytona Beach) we won’t be able to put a timeline on it,” said Stephanie Lerret, a spokeswoman for the project’s developers, Orlando-based Avalon Park Group and Switzerland-based SiteEx Properties Holding AG.

Beat Kahli, a Swiss national who is CEO of both Avalon Park Group and SiteEx, said his goal is to start infrastructure work late next year and begin construction of the first homes, along with a small “downtown” in early to mid-2021.

“We are not just developers, we’re town builders,” he said in a phone interview.

While plans for Avalon Park Daytona have yet to be finalized, Kahli said he envisions building a town that will have approximately 6,000 homes, including single-family houses, apartments and townhouses, as well as restaurants, shops, a grocery store, schools, medical facilities, churches, and offices.

Kahli said he is also planning to launch a global network of “co-use office” complexes called The 5th Floor that will include a location at Avalon Park Daytona.

For a membership fee, businesspeople can work out of and meet with clients at any 5th Floor location, including Orlando, Tampa, as well as in Australia, Singapore, and Switzerland.

Avalon Park Daytona, when fully built out, will add more than $2 billion in ad valorem tax revenues for the City of Daytona Beach and Volusia County, Kahli said.

Although the north side of State Road 40/Granada Boulevard is Ormond Beach, the land Avalon Park Group is buying from Consolidated-Tomoka Land Co. and Magnetar Capital is within the city limits of Daytona Beach.

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Orlando’s Avalon Park Group under contract for 2,500+ acres next to Margaritaville at Daytona

By LAURA KINSLER
GROWTHSPOTTER
DEC 10, 2019 | 4:19 PM 

This is an example of the type of mixed-use building that bidder Avalon Park Group plans to build in the town center of its new master planned community in Daytona Beach. (Avalon Park Group)

Orlando-based Avalon Park Group has signed a purchase agreement to developer over 2,500 acres in Daytona Beach for a new master-planned community that will likely exceed the size of its namesake community in Orange County.

The land is currently owned by Consolidated- Tomoka Land Co and is located on State Road 40, just west of Interstate 95, next to Latitude Margaritaville.

“This property gives us a great canvas to create a place where people can find everything they need in every stage of their lives,” said Beat Kahli, CEO of Avalon Park Group and its Swiss sister company, sitEX. “When complete, Avalon Park Daytona will be a destination the city and the area will be proud of.”

He told GrowthSpotter the company has already begun the master planning process for the site, while CTLC finalizes the entitlements. He met yesterday with Daytona Beach officials to begin the discussions for a transportation network that will link directly to the Margaritaville-branded retirement community on its southern border.

Avalon Park Group has a purchase contract for two parcels (yellow star) totaling nearly 2,600 acres in Daytona Beach. The master planned community will share a border with Latitude Margaritaville. (Consolidated Tomoka Land Co./staff edit)

Avalon Park Daytona will be designed using the company’s signature New Urbanist concepts, with thousands of homes and its own downtown city center. Kahli said he expects the build out period to extend beyond 10 years and eventually reach $2 billion in value.

Avalon Park Group began constructing its first master-planned community more than 20 years ago. The company is also currently developing Avalon Park-branded communities in Wesley Chapel, just north of Tampa, and in Tavares with the same design principals.

“We are long-term developers,” he said. “I’m still young enough to build another town.”

It was that long-term commitment, and strong financial standing, that led Consolidated Tomoka to approach Avalon, according to President and CEO John P. Albright. He told GrowthSpotter Avalon was recommended to him by a homebuilder because of its successful track record.

“There’s a demand for homesites from builders who need a developer to deliver a high quality community that will stand the test of time,” Albright said. “They’re the perfect kind of developer to build something that’s more holistic and has a long-term view.”

The master plan will be unveiled in the first quarter of 2020, but Kahli said one thing is certain: that APG would commence construction on its town center during the first phase of construction. That includes its typical 4-story mixed-use buildings with multifamily and commercial upstairs and ground-floor retail.

“That’s our forte,” he said. “We build a town organically. We built Avalon Park Orlando from scratch where before it was just cows. Now we have 60,000 people and our own downtown. There’s not so many people who build entire towns and stick with it for 25 years.”

Kahli said the Daytona site was attractive because it extends the company’s footprint further east along the I-4 corridor.

“We’re in Tampa, Orlando and now Daytona,” he said. “We’re excited that we now have that last piece of the puzzle. We believe it’s one of the most exciting economic corridors in the U.S. It gives us synergy because each site is far enough apart that they don’t cannibalize each other. ”

Kahli said he has invited Daytona Beach officials for a follow-up meeting at Avalon Park Orlando, so they can get a perspective of what the finished product will look like. Company executives and planners also will meet with Volusia County school officials to discuss planning for future school sites within the community.

“We want to invest in schools, no question,” he said. “I have 200 employees here in Avalon Park, and most of them moved here because of the schools. We will either do a partnership with the school board and offer them sites or do a charter school – or both – and hopefully even partner with a university.”

Kahli said APG will lead the initial planning with its in-house staff but will seek local consultants for environmental and transportation planning.

Albright said he anticipates the land closing in early summer 2020. This is the second time this month Consolidated Tomoka has partnered with an Orlando developer. The company sold 31 acres near the I-95/LPGA Boulevard interchange to Unicorp National Development for $4.6 million.

“We’re excited that Chuck (Whittall) has bought the property,” Albright said. “He’s planning to do multifamily, which we’re greatly in need of. We’re excited to get his expertise.”