Daytona Beach Revives Abandoned Condo Site with New Retail and Bar Plans

500 North Atlantic Boulevard, Daytona Beach, FL, USA - The long-neglected condominium project at 500 North Atlantic Boulevard in Daytona Beach is finally seeing some action as construction resumes. After years of stagnation and a series of financial misfires, developers have scaled down their ambitious plans from a 31-story luxury condo to a more modest one-story structure that will feature retail spaces and a rooftop bar. This shift in strategy comes after a renewed agreement between city officials and developers, presenting a glimmer of hope for a site that has been an eyesore for the community, previously littered with rusting pipes and crumbling concrete, according to Fox 35 Orlando.
Initially brought to a standstill by financial and permitting hurdles, the project’s revival actually looks promising. Daytona Beach Commissioner Ken Strickland highlighted the necessity of steady enhancements to the beachside region, suggesting that the community is ready for a facelift. While the initial phase is set to complete by next year, the future of the residential condo units remains uncertain, with no concrete timeline or sources of funding revealed for later developments.
A Cautious Step Forward
As of January 2025, the grand hopes surrounding the Silver Beach Condo Hotel project, which originated back in 2023, had not yet materialized. Plans by Protogroup to kickstart the construction of a one-story structure have finally commenced, though they have struggled immensely over the past two years with financing and securing condo buyers, as reported by News-Journal Online. The new project aims not only to beautify the landscape but also to cover exposed rebar from previously installed pilings. Interestingly, this interim solution will allow future construction of the much-anticipated 164-unit condo tower without the need for demolishing the new facility.
The one-story building is expected to house shops and include a rooftop event deck alongside adequate parking. Site work is projected to begin around July 7, 2025, marking a crucial turning point for Protogroup after a tumultuous few years, including a condemnation order issued in 2022 for the deteriorating condition of the property.
Turning the Tide
Originally envisioned as a $200 million twin-tower development, this project has faced its fair share of obstacles. After purchasing the oceanfront property over ten years ago, Protogroup successfully opened the 28-story hotel south tower in June 2021, but the 31-story condo tower remains unrealized due to expired building permits and a series of contractor changes and legal disputes. However, the city’s recent lift of the condemnation order, after Protogroup took significant cleaning actions and engaged structural engineers to inspect the foundation, suggests a newfound commitment to restoring the site, Fox 35 Orlando notes.
City commissioners have even amended agreements with Protogroup, allowing for partial reimbursement of costs related to beach access improvements and the new building, which highlights local support for partnerships that aim to bring progress to this beleaguered project.
As Daytona Beach looks ahead, the community remains cautiously optimistic. There’s something to be said for the revitalization efforts, especially for a site fraught with challenges. Ultimately, the initial construction phase serves as a stepping stone, with the promise of future condo units still dancing on the horizon, albeit wrapped in uncertainty.
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