In Daytona Beach, leaders are evaluating the potential for a $185 million sports complex, featuring a 10,000-seat stadium.
City authorities in Daytona Beach are currently deliberating the possibility of developing a massive sports complex on 600 acres of land owned by the city, positioned approximately five miles west of Interstate 95. Recently, a Clearwater-based consulting firm, recognized for its expertise in sports and entertainment facility development, presented a proposal to city officials. This proposal outlines a vast $185 million investment into a sports complex adjacent to the First Step Shelter, showcasing an extensive array of amenities. Included in the concept are a 10,000-seat stadium, numerous football and soccer fields, basketball, tennis and pickleball courts, baseball diamonds, swimming facilities, an ice rink, locker rooms, and concession stands.
The project, still in its early stages, raises important questions, particularly regarding funding sources. City Manager Deric Feacher has emphasized the complexity of financial planning for this endeavor, highlighting several potential funding avenues. These include utilizing tourism tax dollars, forming partnerships with local colleges and Volusia County’s K-12 education system, and collaborating with county government entities. Furthermore, the city might contemplate selling the Municipal Stadium property on LPGA Boulevard, strategically located near residential areas, to developers interested in housing projects. Additionally, there is the potential involvement of professional athletes as investors, and the financial strategy could span a decade or two, allowing gradual accumulation of necessary funds.
The economic implications of this proposed complex are substantial. It is envisioned that each visitor could contribute approximately $150 per day to the local economy via expenditures on accommodation, food, entertainment, retail, and travel, potentially leading to a $54 million economic impact in the first operational year and nearly doubling to $96.5 million by the fifth year. Moreover, the facility could generate annual revenue between $1 million to $2 million from sales and hotel taxes, with total projected revenue reaching $4.6 million in the first year and increasing to $7.5 million by year five, measured against estimated operating expenses starting at $4 million and rising to $4.7 million over the same period.
Daytona Beach’s leaders aspire for the complex to host over 100 sports tournaments annually, along with concerts, solidifying its status as a multifaceted venue. The recommendation to engage a professional operator rather than city management for its operations is a strategic move under consideration. However, with city officials still determining feasibility and potential partners, a clear construction timeline has yet to be established.
As Daytona Beach navigates the complexities of funding and feasibility, the proposed sports complex holds promise for significant economic and social contributions.
Source: News-journalonline
