The development, named ONE
DAYTONA, encompasses 181 acres ISC already owns north of International Speedway
Boulevard in Daytona Beach, FL. Near the crossroad of I-95 and I-4, this
project is in close proximity to the World’s Most Famous Beach and on the
doorstep of the third-largest consumer region in the United States, with
approximately 17 million people. The preliminary conceptual designs for
the first phase of ONE DAYTONA include 1.1 million square feet of world-class
shopping, fine dining, hotel, theater and other entertainment.
Bass Pro Shops and Cobb
Theatres have both signed letters of intent to anchor ONE DAYTONA.
"ONE DAYTONA combines
the thrill of the legendary Speedway with the pulse of entertainment and the
buzz of a premier shopping, leisure and lifestyle experience," said Jim
Jacoby, Chairman and Founder of Jacoby Development. “We believe the ONE
DAYTONA address has tremendous potential evidenced by the commitment from Bass
Pro Shops and Cobb Theatres, as well as continued strong interest from
additional tenants.”
"Our goal with ONE
DAYTONA is to create a vibrant year-round destination that will serve as a new
gateway to our hometown,” said ISC’s Chief Executive Officer Lesa France
Kennedy. “We’re thrilled to partner with Jacoby, an experienced and
renowned developer, to bring this one-of-a-kind opportunity to Daytona
Beach. We are also proud that Bass Pro Shops and Cobb Theatres plan to
anchor ONE DAYTONA. Their involvement further elevates the reputation of
our project and demonstrates the high-caliber entertainment, shopping and
dining establishments we plan to attract.
“This project allows us to
continue reinvesting in our community while unlocking the full value of our
prime acreage across from Daytona International Speedway,” said France Kennedy.
“Combined with the recently launched DAYTONA Rising project at the Speedway, we
believe these efforts will strengthen our business while delivering an
unprecedented boost to the region’s prosperity for years to come.”
“We are very excited to
bring Bass Pro Shops to Daytona Beach and be a part of ONE DAYTONA – a unique,
high quality mixed-use and entertainment destination,” stated Johnny Morris,
Founder of Bass Pro Shops. “The area’s long history of outdoor
entertainment, along with the highly visible and easily accessible location,
make it the perfect place to serve our many customers and outdoor enthusiasts
that visit and live in this beautiful part of the country. We also look forward
to partnering with the France family and our friends at Daytona International
Speedway to promote events for the hundreds of thousands of race fans who also
love the outdoors.”
Cobb Theatres has conducted
extensive customer and location research in the Daytona Beach market to extend
its presence in the Southeastern and Florida marketplaces. “ONE DAYTONA
is a unique opportunity for Cobb Theatres,” said Jeremy Welman, chief operating
officer of the theatre chain. “We’ve been keen on the market for many years.
Daytona Beach is at the center of a large trade area. To have the opportunity
to do something with the folks at ISC and Jacoby is also a benefit to us. The
accompanying renovation of the track along with the addition of ONE DAYTONA
will create an amazing destination. There aren’t too many projects around the
country where you have that dynamic.”
ISC’s approved land-use
entitlements allow for up to 1.4 million square feet of retail/dining/entertainment
area, 2,500 movie theater seats, 660 hotel rooms, 1,350 residential units,
567,000 square feet of additional office space and 500,000 square feet of
commercial/industrial space.
Preliminary economic impact
data project that ONE DAYTONA will create 4,200 permanent jobs at full
completion. An updated economic study is underway, with results expected
to be released in the fall. Final designs are being completed and will
incorporate the results of market studies, project costs and financing
structures. Assuming favorable results, appropriate leasing
considerations and potential local and state support, ISC and Jacoby expect to
move forward with ONE DAYTONA within the next six to 12 months.
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