Large Commercial Projects Spur Daytona Beach Renaissance

HBW subscribers in the Daytona Beach area already know that the commercial construction boom is almost more than the city’s GC’s can handle. The $400 million Daytona Rising project has drawn businesses back to the area in a big way. The renovation of the Daytona International Speedway and the inclusion of Trader Joe’s distribution center nearby have been big stimulus anchoring the commercial rebirth of Daytona Beach.

Gordy Lloyd, VP with the Daytona Beach-based Haley Construction firm which is GC for many of the new projects, says that Daytona Rising is a renaissance of sorts. “What they have done is bring attention back to Daytona Beach to what it used to be,” he says, and all the attention has had a ripple effect in the area. Haley is nearly finished building the Cheddar’s Casual Cafe in front of Voluisa Mall, which joins the Outback Steakhouse, Bahama Breeze, and Olive Garden restaurants Haley has recently built along International Speedway Boulevard.

Roy Akins of Adams, Cameron, & Co. Realtors notes that “one of the benefits to getting something like a Trader Joe’s is that it attracts smaller businesses to take advantage of what the bigger guys see in the market.” Small restaurants, commercial spaces, and retail projects have gravitated into orbit around the new Trader Joe’s store.

Volusia County is one of the increasingly rare counties in Florida where land is still available and affordable, as compared with Tampa, Orlando, Miami, and Jacksonville. Volusia’s current and planned commercial projects include Wawa convenience stores with gas pumps near Port Orange and Orange City, Daytona International Auto mall, hotel construction and renovation projects, and apartment buildings in Daytona Beach and DeLand.

As it turns out, all of this development frenzy follows on the heels of significant population growth. Volusia County recently breached the half-million resident mark. Ted Lightman of Charles Wayne Properties says that “We are definitely seeing demand increasing, primarily along the main thoroughfares of Dunlawton Avenue, International Speedway Boulevard and Granada Boulevard.” Businesses are keen to move to the area he adds, saying that “the national and regional tenants want to be in those corridors and are willing to pay to be there.”

The nation’s economic recovery has driven local recovery in Volusia County, which has brought a wave of new residents and commercial construction. With employment and population climbing in the area, the county will probably experience more growth in the commercial construction activity over the next few years. The $800 million One Daytona mixed-use development near the Speedway, the $100 million Tanger Outlet Mall and the hotly anticipated $140 million Hard Rock Cafe are expected to break ground soon.

HBW serves builders in Florida, Georgia, Alabama, Texas, and Oklahoma. In addition to our Building Trend Activity for Residential Construction Reports, HBW can create a number of custom reports for any need you might have. We also offer exclusive White Paper Reports to help you market your business. White papers start by giving an overview of the trends in your area and then advice on how to turn your weekly building permit information subscription into successful business leads. To show you how we can help your business succeed, HBW is glad to provide you with complementary building data report or one of our specialized White Paper Reports. Contact us today and start making your business more profitable!

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