Courtesy Legacy Partners

Legacy Partners, together with joint-venture partner Griffin Capital Co., has announced the acquisition of a 10-acre site adjacent to Volusia Mall in Daytona Beach, Florida. The site, where a vacant Macy’s stands, will be developed into Legacy Daytona, a 350-unit multifamily community.

Proximity to the adjacent Volusia Mall and recently completed Shoppes at One Daytona will provide future residents with quick access to shopping and dining. “This is an ideal location to develop much-needed and desired apartments,” says Jon Wood, senior managing director for Legacy Partners.

“We expect Legacy Daytona to lease up quickly as there is a dense mix of desirable retail, entertainment, and dining in the surrounding area to support the residents—who will also enjoy an expansive on-site amenity package, as well as the lifestyle offered by Daytona Beach. Our residents will be able to walk to the Volusia Mall and One Daytona.”

Designed by Zyscovich Architects, Legacy Daytona will be four stories, and the community will be gated. Amenities will include a top-floor sky lounge, an outdoor living room, a heated saltwater pool, a courtyard, a fitness center, a yoga and spin studio, a dog park, and a pet spa. Private detached garages and a smart-home technology package will also be available.

“We are excited to once again partner with Legacy Partners on the development of this well-located property that will contribute much-needed housing to the fast-growing Daytona Beach community,” says Eric Kaplan, president of Griffin Capital Co.

The site was purchased from Urban Story Ventures for $10 million. Urban Story Ventures acquired the property in spring 2020. “We saw great potential when we purchased the vacant department store and surrounding area back in 2020—before we had any insight on what the pandemic would do to malls across the country,” says Jimmy White, general partner and president of Urban Story Ventures.

The property was then quickly eyed for multifamily redevelopment because of its location across the street from Daytona Beach International Airport and Daytona International Speedway. “We’re excited for this area to be given new life and animated in such a positive way,” adds White.