Fast and Furious

Diane Sears | 9/1/2006

NEW LOOK: Ocean Waters Management's most visible project so far: Renovated Plaza Resort & Spa.

Since 1998, a Volusia County resort development company has quietly invested millions on oceanfront property, planning a series of projects that promises sweeping changes for Daytona Beach and Ormond Beach.

Ocean Waters Management's acquisitions have been so fast-paced that during one week in January, the company bought five properties, says Doug Kosarek, senior vice president. The company now holds about 35 sites on almost three miles along "The World's Most Famous Beach."

The company's most visible project so far is a $70-million renovation of the 322-room Plaza Resort & Spa, a hotel built in 1880 that previously catered to spring breakers. Many of the other properties are former mom-and-pop motels. Ocean Waters expects to start presales next spring on Blu, a 33-story upscale condo/hotel that will replace the Beachcomber Hotel on Atlantic Avenue. The company is seeking permits to build The Grand, a 42-story hotel that would help serve the expanding convention center.

In Ormond Beach, the company has submitted plans for a cluster of hotel and condominium units in eight buildings that range from eight stories to 19. The complex would contain the city's first five-star hotel and a 350-foot strip of oceanfront public park. Ormond Beach residents are still debating the proposal.

Meanwhile, founding partners Charles Bray and Joe Gillespie, former downtown Atlanta developers who now live in Daytona Beach, have donated $250,000 for a 96-bed homeless shelter expected to open in October.

Ocean Waters Properties
? Daytona Beach
Sites: 30
Oceanfront land: 2+ miles
Projects: Blu, a 33-story condo/hotel; The Grand, a 42-story hotel linked to the Daytona Beach Convention Center.

? Ormond Beach
Sites: 5
Oceanfront land: 3,400 square feet.
Projects: Eight-building residential/ vacation complex that includes a 5-star-level hotel, with structures varying from eight stories to 19.

Tags: Space Coast, Housing/Construction

A Florida health provider says better building design can help patients heal

FHSAA to potentially sanction esports in Florida schools

Florida home values have more than doubled in the past decade

Sunshine State manufacturing is a powerhouse, rivals tourism

For SUBSCRIBERS

READ THE April Issue » Access An Issue

FLORIDA TREND MAGAZINE

· LAST MONTH'S ISSUE · SUBSCRIBE NOW! · BUY A SINGLE ISSUE · GET DIGITAL ACCESS

Florida Business News

A Flamingo flock inspires hope. Have the rare birds returned to the Everglades for good?
For the last century, flamingos in Florida were more likely to be spotted on T-shirts and cups in a souvenir shop than flapping around in the wild. Suddenly, that might be changing.
Florida’s home insurance industry may be worse than anyone realizes
Nearly 20% of the companies doing business in Florida that were rated as financially stable went insolvent during the period 2009 to 2022.
Florida adds restrictions to dairy cows to prevent bird flu
As the federal government brings tougher regulations to cattle farms to prevent the spread of H5N1 avian influenza, commonly known as bird flu, Florida has imposed its own restrictions on cattle brought into the state.
Florida cities among cleanest areas for air quality in U.S.
Florida cities are pretty clean compared to many metropolises in other states, according to the newest American Lung Association “State of the Air” report.
Money to harden your home? Florida program is changing. Here’s how.
Good news for Florida homeowners: The popular state program that awards up to $10,000 to harden your home is being renewed this year, and it now includes condominiums.