DAYTONA BEACH, Fla., January 12, 2024 (Newswire.com) - Paradigm Development Partners is thrilled to announce the groundbreaking of a luxury commercial project in Daytona Beach, envisioned as a hub for business, leisure, and community growth.
Groundbreaking will occur in early 2024, with completion of all phases expected by 2027.
Spanning approximately 40 acres, the new Daytona luxury development will border LPGA Boulevard, Clyde Morris Boulevard, North Williamson Boulevard and Mason Avenue, a prime location chosen for its accessibility and potential to connect different parts of the city.
The goal with this development project is to bring new brands to the Daytona market, allowing residents to invest in the local economy instead of driving to Jacksonville or Orlando for shopping and dining.
The development project will feature a vibrant blend of high-end retailers, full-service restaurants, boutique shopping, and unique spaces to create shared moments, including the area’s first Hyatt House Hotel. The Hyatt House will approximate 120 rooms, feature the H bar, and bring an elevated approach to extended stay.
The commercial project is an integral part of a larger, walkable, mixed-use community being developed by global real estate investment and development firm Hines, which will also include luxury apartments, an upscale single-family rental community and for-sale townhomes.
Central to the development’s design is a vision for public spaces and connectivity. The project will include green areas, several ponds, as well as pedestrian pathways.
"The Daytona project embodies our commitment to creating communities, not just developing spaces,” said Rick Friedman of Paradigm Development Partners. "Our goal is to create a space that fosters community and provides a dynamic environment where people can live, work, and enjoy leisure activities in a beautiful setting.”
This project is expected to generate significant economic benefits, including job creation during both the construction and operation phases, and will serve as a catalyst for further development in the area.
Paradigm Development Partners is proud to collaborate with the best in design, construction and innovation. Kimley-Horn is providing civil design, planning, and engineering services for the commercial parcels. Kellogg & Kimsey is the general contractor, and Base4 is the architect for the Hyatt House Hotel.
About Paradigm Development Partners, LLC: Founded in 2016, Paradigm Development Partners, LLC is a fully integrated development firm based in Florida specializing in the acquisition, entitlement and development of large tracts of land. With a focus on mixed-use commercial projects including retail, restaurants, hotels and office spaces, Paradigm has been involved in more than 20 properties in the last seven years. For more information, visit https://paradigmdevelopment.com/.
About Hines Construction: Hines is a global real estate investment, development and property manager. The firm was founded by Gerald D. Hines in 1957 and now operates in 30 countries. Hines manages a $94.6B¹ portfolio of high-performing assets across residential, logistics, retail, office, and mixed-use strategies with local teams serving 790 properties totaling over 269 million square feet globally. Hines is committed to a net zero carbon target by 2040 without buying offsets. To learn more about Hines, visit www.hines.com and follow @Hines on social media.
¹Includes both the global Hines organization as well as RIA AUM as of June 30, 2023.Contact Information:
Vice President & Treasurer
Original Source: Paradigm to Break Ground on Daytona Luxury Development