DAYTONA BEACH, Fla. (May 22, 2008) -- International Speedway Corporation and The Cordish Company celebrated the official commencement of construction of Daytona Live!, an upscale retail, office and entertainment center for Daytona Beach. Joining in the celebration were,
• James C. France, Chairman, International Speedway Corporation;
• Lesa France Kennedy, President, International Speedway Corporation;
• David S. Cordish, Chairman, The Cordish Company;
• Glenn S. Ritchey, Mayor of Daytona Beach;
• Frank T. Bruno, Jr., Chairman of Volusia County Council; and,
“We are creating a new, year-round destination for the region that has taken the dedication and support of city, county and state officials to make a reality,” stated Ms. France Kennedy. “Through our cooperative efforts, I am proud to say we will keep ISC, NASCAR and Grand-Am in the Daytona Beach community for the long-term.”
The 71-acre, approximate $437 million development site, located across from the Daytona International Speedway, is being developed by a 50/50 joint venture owned by ISC and Cordish. The development will feature 265,000 square feet of innovative retail, dining and entertainment spaces, a proposed 160-room hotel, residential units, as well as 200,000 square feet of office space which will serve as the world headquarters for ISC, NASCAR and Grand-Am.
The state-of-the-art, eight-story, office building is scheduled to be completed in late 2009. The project is pursuing Leadership in Energy and Environmental Design (“LEED”) certification for the office building. The certification provides independent, third-party verification that a building is environmentally responsible and a healthy place to work. The retail, dining and entertainment venues are scheduled to open beginning in the first quarter of 2010.
Cobb Theaters has recently signed on to anchor Daytona Live!. The 65,000 square foot theater will feature 14 screens featuring digital projection with 3-D capabilities, stadium seating and a loge level providing 350 reserved premium seats, and a full-service restaurant as well as in-seat service for food and beverages.
“Daytona Live! will be a true lifestyle project in which the community will gather in a wonderful setting for first class dining, shopping and entertainment,” stated Mr. Cordish. “Daytona Live! will spin off enormous new economic development for the area and region.”
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