DAYTONA BEACH | Residences at The Hard Rock Hotel | 395 FT | 32 FLOORS

[chris08876]

SITE WORK UNDER WAY FOR HARD ROCK IN DAYTONA BEACH

Demolition work started Friday to clear an oceanfront site for a Hard Rock Hotel and Cafe in Daytona Beach. The owner of the 10-acre site, Toronto-based Bayshore Capital Inc., plans to build a 375,000-square-foot development there that would include a 250-room Hard Rock Hotel with a 250-seat restaurant and 99 residential condominium units plus penthouse units bearing the Hard Rock brand. Community leaders in Daytona Beach have hailed the $150 million development as a possible inspiration for additional upscale developments at beachfront locations. Edwin Peck, president of Peck & Associates Construction Inc., the general contractor of the Hard Rock project, said demolition of an abandoned house on the development site will be done in about three weeks. The two-story, five-bedroom house had been a hangout for homeless people in recent years. A parking garage for the Hard Rock development will rise on the site of the house. In May, the Volusia County Council voted to create traffic-free zones behind the site of the Hard Rock project and another recently announced development, the Westin Daytona Beach Resort & Spa. The Westin is expected to open by the fall of 2016.

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http://www.allrealestatemiami.com/si...daytona-beach/

[Urbannizer]

Cancelled

$150M Hard Rock project not happening in Daytona Beach

"At this point, the uncertainty and delay appear to have killed the Hard Rock Daytona Beach project," said Wolfond, chairman and CEO of Toronto-based Bayshore Capital Inc. "After all the time, effort and money invested, as well as the hopes and dreams for revitalizing this area, this is obviously a crushing disappointment for me, Hard Rock, our residential purchasers and all of those who believed in and supported our vision."

Wolfond had 47 hard contracts for condo sales that tallied more than $40 million, enough to move forward, he said. The problem was the nervous financial backers who didn't want to throw huge sums of money at an upscale resort that could wind up with beach driving, he said.