Edgewater mulls first Community Development District

District would pave the way for up to 1.5M square feet of nonresidential development

Aug.August 18, 2014 10:00 AM

The owners of Deering Park Center, an almost 900-acre tract west of Interstate 95 in Edgewater, are lobbying city officials to create a special tax district on their property.

The owners, Swallowtail LLC, hope the special district would pay for roads, water lines, and other costs for the potential development of up to 1.5 million square feet of nonresidential buildings, according to the Daytona Beach News Journal.

The company has no plans to actually develop the property, however.

“We’re going to continue to work with Edgewater on trying to find an appropriate buyer for something that will make everybody proud,” Glenn Storch, a Daytona Beach attorney representing the company said. “Obviously this is an important piece of property to us, because it’s the gateway in to Farmton.”

Swallowtail is a subsidiary of Miami Corp., which owns 59,000 acres in Brevard and Volusia counties where they have enacted what is known as the Farmton Local Plan. The approved plans allow development of up to 25,000 homes and 4 million square feet of commercial space on up to 19,000 acres, while placing conservation easements on about 40,000 acres, according to the News Journal.

If the Community Development District is approved at Deering Park Center it would be the first in Edgewater’s history, City Manager Tracey Barlow said. [DBNJ] Christopher Cameron

Related Articles

Rendering of Missoni Baia with a concrete truck and Vlad Doronin (Credit: Getty Images and iStock)

5,800-ton concrete pour set for Missoni Baia condo tower

Elysee building at 788 Northeast 23rd Street

Edgewater’s tallest building tops off at 57 stories

Vlad Doronin and a rendering of Missoni Baia (Credit: Wikipedia Commons and Missoni Baia)

Vlad Doronin, partners score $243M loan for Edgewater tower

Kushner Companies' Charles Kushner and Laurent Morali

Inside Kushner Companies’ $1B expansion into South Florida

Rendering of the Edgewater Holiday Inn pool

Bank OZK lends $28M for Holiday Inn project in Edgewater

Alex Sapir and the site at 1768 Northeast Second Court (Credit: CBRE)

Alex Sapir’s massive Opportunity Zone site in Miami hits the market

Rendering of Crescent Heights’ project with Russell Galbut

Crescent Heights to begin construction of massive Edgewater project

James Harpel and The Bristol in West Palm Beach

South Florida developer pays $8M for condo at the Bristol