Daytona Beach, FL. (April 21, 2020) – Avalon Park Group/sitEX “APG” submitted a first-of-its-kind proposal to the City of Daytona Beach and Volusia County today to actively participate through an innovative public-private partnership in improving the transportation network in the vicinity of the proposed Avalon Park Daytona Beach development.
Studies conducted by Volusia County as recently as the summer of 2019, as well as APG’s engineering team, identified a need for additional capacity in this region. The proposal seeks to fund three major transportation improvements to address these challenges. First, by providing additional capacity for east/west movements via State Road 40/Granada Boulevard. Additionally, new east/west capacity via the Hand Avenue extension from east of Interstate 95 west through the proposed Avalon Park Daytona Beach development. And finally, additional north/south capacity through an extension of the existing Tymber Creek Road. The proposal includes a bond issued in the name of Avalon Park Group/sitEX, as developer, for approximately seventy-five million ($75,000,000) dollars to fund these improvements. It also includes a plan for repayment primarily from the impact fees and property taxes generated by the Avalon Park Daytona Beach development.
“We have historically worked closely with local governments to ensure the communities we build maintain high standards for infrastructure, transportation and education,” said Beat Kahli, President and CEO of Avalon Park Group/sitEX. “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 Park Group/sitEX has worked over the past 3 months with the City of Daytona Beach to develop a proposed development plan that meets their growth objectives. Avalon Park Daytona Beach plans to develop a compact, walkable, mixed-use and interconnected community, that achieves the efficient use of land and reduces infrastructure costs. Additionally, the plan preserves a large contiguous space for conservation lands, utilizes a network of interconnected streets to reduce the number and length of automobile trips which reduces energy consumption and protects the environment. APG’s traditional neighborhood development approach creates walkable neighborhoods that are all centrally located around a downtown commercial center and a true community for all ages to live, learn, work and play.
“Partnering together to complete public infrastructure at the beginning of a development helps create a successful foundation for the entire plan,” says Ross Halle, Senior Vice President, Avalon Park Group/sitEX. “Working together for the community is smart growth.”
The current schedule shows a groundbreaking in the first quarter of 2021, with the goal of having first residents moving into Avalon Park Daytona Beach in late 2021. When complete, Avalon Park Daytona will be a master planned community with both commercial and residential options. It will encompass more than 2,500 acres and will add over $2 billion in ad valorem value to the city and county and be home to more than 10,000 residents. Avalon Park Daytona Beach will truly be the place to live, learn, work and play in Daytona Beach.
About Avalon Park Group
Avalon Park Group is a uniquely diversified family of companies engaged in businesses ranging from master-planned community development, to home building, mining and property management, in Florida, Texas, Switzerland Singapore and Australia. With more than $1 billion in total assets, Avalon Park Group combines its exceptional reputation, sound business experience and significant financial resources to invest in extraordinary opportunities. At Avalon Park Group, our mission is to change the way the world lives, learns, works and plays through creating healthy sustainable communities and every aspect thereof. For more information on Avalon Park Group, visit www.AvalonParkGroup.com or call 407-658-6565.
Contact: Beat Kahli, Avalon Park Group, 321-229-4116 or Stephanie Lerret, Avalon Park Group, 407-427-6073.