13 Acre Senior Housing Development Site

Listing was updated at: 01/22/2020
Property Overview
Price/Rent PSF Inquire
Asset Type Land
Trade Type Sale
Acres Available 13.00
Date Available 01/22/2020
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Located on Hand Ave, just a few hundred yards east of Williamson Blvd in Daytona Beach, FL

SVN Alliance is pleased to offer to developers this 13+/- acre multifamily development site in Daytona Beach, FL. The property is ideally positioned on the Daytona Beach/Ormond Beach city line along Hand Avenue, just east of its intersection with Williamson Blvd. The location offers quick access to I-95, Florida Hospital MMC, Granada Blvd (SR 40) and LPGA Blvd (Latitude Margaritaville, Mosaic, Tanger Outlet Mall, LPGA International).

The zoning on this 13+/- acre site allows up to 260 multifamily units. Could be developed as traditional apartments or as a senior project. Previously plans were completed for a senior housing project composed of 140 Independent Living Units, 98 Assisted Living Units and 22 Villas. The property affords a developer the flexibility to revise the design program and phase their project to suit the market. The site has the potential to be developed as a Continuing Care Retirement Community offering various types of care and wellness programs.

This region of Volusia County is experiencing unprecedented residential and commercial growth. Minto Communities is continuing to develop new phases of their Latitude Margaritaville 55+ retirement community on LPGA Blvd. They have already sold 400+ homes in their first year out of the planned 6,900 home community. ICI Homes has recently moved in their first residents to Mosaic, a 1,200 unit single family community just west of Margaritaville. We are also just a mile away from the existing Aberdeen 55+ manufactured home development and their 1,000+ aging residents. Retail is abundant with Tanger Outlet Mall opening here in 2016 and the Tomoka Town Center (Hobby Lobby, Dave & Busters, Academy Sports) opening later in 2018.

The market is demanding new senior housing options as the current supply is limited and lacking quality services/amenities. No new independent or assisted living facilities have been developed in this area in the last 10 years. The current competition is aging and quickly becoming obsolete for what today's seniors, and their families, want. This site is ideally positioned to capture both the existing population of Ormond Beach and growing population near LPGA Blvd in Daytona Beach.

SVN Alliance has been retained as the exclusive listing agent to market this exciting development site. Interested parties are encouraged to contact us to further discuss the property and pricing in detail.