EVOLVE Business and Professional Magazine August 2018 | Page 18

the 400,000-square-foot distribution center for B. Braun; the new developments have been shown to smooth the “boom bust”
400,000-square-foot retail power center under construction from cycles of the area’s economy, which had been traditionally more
North American Development Group; the 260-unit apartment reliant on tourism. In addition to the increase in jobs, this new
complex built by Integra; two new auto dealerships; the first development creates increased property tax revenue for the local
Buc-ee’s convenience store to open outside of Texas; and the government. And with an increased real estate tax base of more
1,200-unit Mosaic residential community. Also recently under than $1 billion, the additional dollars could help shore up the
development is the 3,400-unit Latitude Margaritaville residential sometimes-stretched municipal finances.
community, which sold more 300 homes in its first five months
With new development comes new residents. For the first
alone, and was recently named the most popular active adult time in decades, officials in Daytona Beach are anticipating a
community in the U.S. by 55Places.com. population growth, with the Latitude Margaritaville and Mosaic
These developments represent not only billions of dollars
developments alone expected to grow the city’s population
in capital investment but also thousands of new jobs and by more than 10 percent. Because the Latitude Margaritaville
residents. The developments already completed on land sold by community is designed for those 55 and older, they generally
CTO since 2012 have created an estimated 3,500 jobs, which is don’t add to the costs of government services like the local school
approximately 200 basis points of the unemployment in Volusia system. Many of these residents have disposable income and
County. New employment opportunities such as those from these an interest in enjoying the amenities of the local area, including
Sands Parc by Integra
Photo credit: Consolidated-Tomoka Land Co.
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