Canada-based Minto Communities plans to double the residential component of a sprawling Daytona Beach development from 3,400 homes to 6,900.
Minto last week contracted to buy almost 1,700 acres next to about 1,600 acres the Canadian developer already had agreed to buy for its Oasis Daytona development, the largest home-building project in Daytona Beach history.
The total cost of Oasis Daytona is expected to surpass $1.5 billion, said William Bullock, vice president of Minto Communities, the Florida division of Minto Group Inc., which is headquartered in Ottawa, Ontario.
Bullock also told the Daytona Beach News-Journal that the 6,900 planned homes, plus two town centers and two shopping centers measuring 200,000 square feet each, would take 15 years to build.
Before Minto decided to add land to Oasis Daytona, the development was supposed to cover about 1,600 acres that the Canadian developer has agreed to buy from Consolidated-Tomoka Land Co.