Greater Daytona is Experiencing a Wave of Growth

In Ormond Beach, Security First has opened a new five-story headquarters, the first building in a mixed-use development that could eventually result in thousands of new homes and millions of square feet of commercial development.

Daytona Beach-based Consolidated-Tomoka Land Co. wants to make Daytona the “World’s Greatest Beach” by transforming the downtown business district and beachside tourism area into mixed-use attractions featuring restaurants, stores, luxury apartments, condominiums and parking garages.

A Major Entertainment Destination

A recent addition to the region’s shopping, dining, housing and entertainment scene is ONE DAYTONA, a major lifestyle and entertainment destination across the street from Daytona International Speedway. ONE DAYTONA is owned by NASCAR and features 282 apartment units, several restaurants and retailers such as Bass Pro Shops, two hotels and a 12-screen theater complex.

“We wanted to establish a community epicenter in Daytona Beach that would be complementary to all the activities we have going on at Daytona International Speedway across the street,” says Roxanne Ribakoff, president of ONE DAYTONA. “It’s a place where you can shop, dine, play, date, work and live on an all-inclusive campus, and it has turned into an entertainment destination for people in Volusia County.”

Ribakoff says ONE DAYTONA was constructed largely as a complex with an open-air environment. That includes almost all restaurants having outdoor patio options.

“We also host a lot of car shows, which is natural being right across from the speedway, and we launched an art festival in November 2020 that we hope will become an annual celebration,” she says. “We look at ONE DAYTONA as the start of a revitalization of the Volusia County community. ONE DAYTONA has spurred a lot of additional growth in Greater Daytona.”

Tallest Building in Daytona

Several other Greater Daytona corporate citizens are playing a significant role in the revitalization of the region. For example, insurer Brown & Brown, Inc. opened a new headquarters building in downtown Daytona Beach in early 2021.

The 225,000-square-foot, 11-story headquarters along North Beach Street is now the tallest structure in Daytona Beach. The company hopes its expanded footprint will be a catalyst to more growth in the downtown Daytona Beach area.

“The new building will eventually house 900 of our team members at capacity, so there will be a need for surrounding retail, dining, nighttime and even residential options for these employees,” says Andrew Watts, executive vice president and chief financial officer with Brown & Brown, Inc. “Our company wants to do our part to contribute to the downtown Beach Street area and see if we can get its revitalization kicked off.”

The impressive Brown & Brown, Inc. steel-and-glass tower has 30 meeting rooms, outdoor courtyards and decks, and 825 parking spots. In all, 125 new trees will be planted on the grounds.

The interior features an open-floor design, and several higher floors of the building offer great views of the Halifax River and Atlantic Ocean.

Brown & Brown, Inc. was headquartered in a five-story building on Ridgewood Avenue prior to the new building, and steady growth caused the move. The company is now the sixth-largest insurance company in the nation, serving customers in the U.S., Canada, Bermuda, the Cayman Islands and the United Kingdom.

“We have also pledged to create at least 600 new jobs in Daytona Beach by the end of 2023,” Watts says. “In addition, our 15 acres of total property has room for a second office building to be eventually added, should we need it.”

If you’d like to learn more about the Greater Daytona region, check out the latest edition of Greater Daytona Region/Volusia County.