Menu

More Daytona development set for LPGA area

The development surge along Daytona’s LPGA corridor could soon become a flood. Projects are planned on both sides of Interstate 95 that could bring more shops, eateries, hotels, homes, apartments and possibly a movie theater. Not to mention a whole bunch more traffic.

DAYTONA BEACH — The development surge along this city’s LPGA Boulevard corridor could soon become a deluge.

Projects planned on both sides of Interstate 95 are poised to bring more shops, eateries, hotels, homes, apartments and possibly a movie theater.

Not to mention more traffic.

“Activity begets more activity,” said Carl Lentz IV, managing partner of SVN Alliance Commercial Real Estate Advisors.

“Traffic is a good thing for retailers.”

Since 2015, the I-95/LPGA area has seen the opening of three shopping centers — Tanger Outlets, Tomoka Town Center and Latitude Landings.

It has added regional distribution centers for Trader Joe’s and B.Braun as well as a last-mile delivery station for Amazon, the e-commerce giant.

Other recently completed commercial projects along the LPGA corridor include the new Sam’s Club, Stor-It Storage Center and Superwash Express.

The corridor has also seen the opening of two new residential subdivisions that have added more than 1,000 homes and three new luxury apartment complexes with more than than 900 units.

Projects under construction include a Buc-ee’s next to the I-95/LPGA Boulevard interchange. When it opens next year, the 120-fuel pump facility will be the largest gas station in Florida. It will include a 53,000-square-foot travel convenience center, bigger than most supermarkets.

Also going up are more restaurants and shops at Tomoka Town Center.

New tenants expected to open later this year include a Duck Donuts gourmet donuts shop next to Blaze Pizza, and a 5.11 Tactical outdoor apparel shop next to Barnes & Noble, said Tomoka Town Center developer Jeff Preston.

Other tenants coming to Tomoka Town Center include a Rooms to Go store that will be built along I-95 just north of Tanger Outlets and an antique car-themed Ford’s Garage restaurant next to Chipotle.

Across the street on the east side of Williamson Boulevard, Orlando developer Unicorp is building a new shopping center called Shoppes at Williamson Crossing.

New luxury apartments are going up both along LPGA and Williamson boulevards that are expected to add more than 1,000 units.

And that’s just the beginning.

Click here to view the full article

Developers step up apartment projects in Volusia, Flagler counties amid growing housing shortage

With the population continuing to grow in both Volusia and Flagler counties, developers are stepping up construction of new apartment communities here.

Projects already underway including the first new apartments to be built in Palm Coast in five years and 1,800 new units in Volusia County.

“There’s a big demand for apartments in the Daytona Beach area right now,” said Luke Wickham, senior vice president of multihousing investment properties at the Orlando office of commercial real estate brokerage CBRE.

“Daytona Beach has really improved and stepped up its game,” he said, adding that the increase in employment opportunities and addition of new entertainment/retail amenities such as One Daytona, Tanger Outlets and Tomoka Town Center are adding to the area’s appeal.

“Historically, Daytona Beach has been a blue-collar/Walmart type of economy, but that’s really changing with the new headquarters for Brown & Brown going up in downtown Daytona Beach, the new Amazon (last-mile delivery station) facility and the hospitals expanding,” he said.

In the past two-and-a-half years, Volusia County has seen the completion of new apartment complexes that have added 900 units, more than twice the number added the previous four years, according to CBRE data.

Developers are expected to add another 588 new apartment units in the county by year’s end, according to the report.

Apartment projects currently under construction include the 301-unit 500/East Apartments on LPGA Boulevard, east of Clyde Morris Boulevard that is expected to welcome its first residents in November, the 282-unit Icon One Daytona apartments that are expected to welcome its first residents in October, and the 292-unit Springs at Port Orange complex going up on the northwest corner of Summer Trees Road and South Williamson Boulevard, across from The Pavilion at Port Orange shopping center, that’s also expected to have some units available for occupancy by year’s end.

Click here to view the full article

Young professional: I love luxury apartment living

The current surge in new luxury apartment projects does nothing to fill the Daytona Beach area’s need for more affordable housing, but local observer G.G. Galloway believes it could be helping address another chronic problem.

“For years, our greatest export has been our young people,” said the longtime commercial Realtor, referring to the “brain drain” trend of homegrown talent leaving to pursue opportunities in larger metro areas.

“Now we’re starting to keep our greatest asset, the young minds being educated right here,” said Galloway, a partner with Coldwell Banker Commercial Benchmark Properties in Ormond Beach. “An aging community dies. We need to keep our young people here.”

Keys to attracting and retaining young professionals include creating more high-paying jobs such as the ones being offered at companies like Daytona Beach-based Brown & Brown Insurance, Ormond Beach-based Security First Insurance, both of which are building new headquarters in the area, as well as medical products manufacturer B.Braun.

Other keys include opportunities for millennials to connect with one another, such as the Volusia and Ormond young professionals groups and the need for amenities such as a greater selection of shopping, dining and entertainment options, which are being created in places like Tanger Outlets and Tomoka Town Center shopping centers as well as the One Daytona complex across from Daytona International Speedway.

But there is also the need for housing options that can appeal to young professionals.

That’s where luxury apartments, such as the new Tomoka Pointe Apartments set to welcome its first new tenants next to Tomoka Town Center, and Icon One Daytona Apartments along International Speedway Boulevard come in.

Christian Harris, 22, is an account executive with Brown & Brown who has enlisted two friends, both also in their twenties, to become roommates with him in one of the first apartment units at Tomoka Pointe.

Click here to view the full article