Orlando-based Avalon Park Group is on track to close this summer on more than 2,600 acres for its next master-planned mixed-use community in Daytona Beach and will break ground in 2021, the developer said.
“We’ve submitted a master plan for the PD and a Comp Plan Amendment on March 25, so now we’re responding to comments,” CEO Beat Kahli told GrowthSpotter. “We’re moving full speed ahead.”
The developer is seeking to change the future land use on the property to Mixed-Use and Residential, with entitlements for 10,000 dwelling units, 730,000 square feet of retail space, 270,000 square feet of office space. Half of the residential units would be multifamily, while the single family homes would be attached townhomes and villas (1,650 units) and detached homes (3,350 units).
“I’m very pleased with the city of Daytona Beach,” Kahli said. “Despite COVID-19, we’ve been able to meet by telephone and our original timeline is still valid.”
The conceptual master plan includes road connections to the neighboring Latitude Margaritaville community now in development by Minto Communities.
The developer is also seeking city and county approval to issue $75 million in bonds for road improvements along S.R. 40, Tymber Creek Road and for an extension of Hand Avenue with an overpass at I-75. The bond would be issued by Avalon Park Group and co-developer sitEX, and would be repaid primarily from the impact fees and property taxes generated by the $2 billion development.
“We have historically worked closely with local governments to ensure the communities we build maintain high standards for infrastructure, transportation and education,” Kahli added. “We truly believe that as developers we need to have skin in the game as it relates to public infrastructure and not only rely on local government to provide these improvements.”
Avalon has proposed a 10-phase build-out with the first residents moving in by late 2021. Phase 1 comprises portions of both the mixed-use town center and residential area and would include 559 multifamily units, 190 single family attached units and 381 detached homes. It also calls for 118,700 square feet of retail space and 40,000 square feet of office space.
“We’re in discussions with the school board, too,” Kahli said. “We want to get a school underway as quickly as possible.”
The various housing products and building types are also spelled out in the documents. Multifamily homes could include apartments or condos and they could be constructed as part of a mixed-use product with retail on the ground floor. The attached homes could be fee simple townhomes, live-work units or duplex villas. Detached homes could be front-loaded or rear-alley loaded, or they could be built in clusters sharing a common driveway court. While it’s not included in the product examples submitted by Avalon Park Group, a single family build-for-rent neighborhood is also possible.
“The proposed development will promote interconnectivity of various housing types in close proximity to one another to support a wide variety of socil-economic backgrounds,” the plan reads. “Unlike typical suburban development, the proposed development will locate a mix of residential options for residents all in the same community.”
Avalon is also seeking approvals for up to 30 developer-rental homes. These would be furnished short-term rental homes intended to give prospective buyers a chance to experience living in the community before purchasing a home.