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Daytona Beach is ripe for development and investment opportunities

Daytona Beach is on a verge of a building boom not seen since prior to the housing boom of the mid 2000s. The following are projects that have already been approved by the city of Daytona Beach and are in the process of construction. These projects are bringing billions of dollars worth of investment into Daytona Beach. Now is the best time to purchase real estate before prices sky rocket.

ONE DAYTONA and DAYTONA RISING is $1.2 billion dollars at full build-out of private investment in the Daytona Beach community. The projects are a joint venture between International Speedway Corporation and Jacoby Development. At full build-out, the project calls for up to 1.4 million sqft of retail, dining, and entertainment area, 660 hotel rooms, 2,500 theater seats, 1,350 residential units, an additional 567,000 sqft of office space, and up to 500,000 sqft of research and development space. The first phase of ONE DAYTONA, which includes 1.1 million sqft of world class shopping, fine dining, hotel, theater and other entertainment, is partially open already and phase 2 and 3 are continuing.
The Daytona Beach Convention Hotel & Condominiums, a $192 million project located at the eastern tip of Oakridge Boulevard, is expected to secure its building permits January 2017. Construction will begin shortly after that, city and company officials said.In about four years, two 300-foot-plus towers stacked with 120 condos and 501 hotel rooms will change the city's skyline and perhaps change beliefs about what's possible in Daytona Beach

Protogroup's vision for its Daytona Beach property is to create a 1.1 million-square-foot complex with two oceanfront towers connected by a catwalk suspended over the Oakridge beach approach to maintain public access to the sand.The north tower is planned to have 31 floors with 120 owner-occupied condo units and 42 hotel rooms. It will span nearly 592,000 square feet and include nine levels of structured parking. Construction is expected to cost $95 million and take four years to complete, according to the building permit.

The south tower will have 27 stories and include 459 hotel rooms. It will hold 540,759 square feet and cost $90 million. Construction will start on the south tower first, and it's estimated to take 30 months to complete. Plans also call for 7,500 square feet of retail space in street-level shops fronting State Road A1A, a 7,000-square-foot hotel restaurant and 18,000 square feet of ballroom and meeting space.
The Tradewinds Daytona student housing development will be north of the Volusia Mall on the northwest corner of Jimmy Ann Drive and Dunn Avenue. A new $30 million student housing complex will feature Wi-Fi throughout the 21-acre site, high-speed Internet in all 240 apartments, a pool, sand volleyball court and a 10,000-square-foot clubhouse. While the 11-building complex will also be open to non-students, the developer said it will be aimed at the roughly 26,200 students who attend Daytona State College, Embry-Riddle Aeronautical University, Bethune-Cookman University and Stetson University.

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