Minto to double Daytona project to 6,900 homes

Miami /
Jul.July 30, 2016 10:00 AM

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.

Terms of that deal haven’t been disclosed. Consolidated officials expect the Daytona Beach land sale to Minto to close by the first quarter of 2017. [Dayonta Beach News-Journal] — Mike Seemuth


Related Articles

arrow_forward_ios
23 Tahiti Beach Island Road and 4965 Southwest 82nd Street

Cuban coffee mogul trades waterfront Tahiti Beach mansion for Ponce-Davis estate

Cuban coffee mogul trades waterfront Tahiti Beach mansion for Ponce-Davis estate
Dave Folsom, president & CEO of Sotherly Hotels, and the DoubleTree Resort by Hilton Hollywood Beach at 4000 South Ocean Drive (Credit: Google Maps)

Hollywood DoubleTree’s $59M CMBS loan enters special servicing

Hollywood DoubleTree’s $59M CMBS loan enters special servicing
Gables Town Colony apartment complex, Sue Ansel of Gables Residential

Gables Residential scores $85M loan for Boca Raton apartment complex

Gables Residential scores $85M loan for Boca Raton apartment complex
Kevin R. Kreutzfeld of Premier Estate Properties and 1408 West Lake Drive

Waterfront home in Fort Lauderdale’s Harbor Beach sells for $11M

Waterfront home in Fort Lauderdale’s Harbor Beach sells for $11M
Broadstone City Center with Alliance Residential’s Bruce Ward and Nuveen CEO Jose Minaya

Nuveen pays $103M for West Palm luxury apartments

Nuveen pays $103M for West Palm luxury apartments
3621 South Ocean and Corcoran's Jennifer Kilpatrick

Sean Posner, partners sell new Highland Beach townhouses for $12M

Sean Posner, partners sell new Highland Beach townhouses for $12M
Edmund Ansin and the property (Credit: Google Maps)

Billionaire TV family sells Miramar property to Florida Crystals

Billionaire TV family sells Miramar property to Florida Crystals
Toscana apartments and Juan Porro of FCI Residential

Florida Crystals sells Margate rentals for $60M

Florida Crystals sells Margate rentals for $60M
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...