DAYTONA BEACH SHORES, Fla. – The Daytona Beach Shores city council voted to develop a new beachfront hotel and a multifamily residential complex on Tuesday afternoon.
The council voted 4-to-1 in favor of the development project.
The hotel is planned to have 300 units and the complex would have 200 multifamily units, according to city documents.
The construction will take place on the property of the old Treasure Island Hotel at 2025 S. Atlantic Ave.
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Currently at this address is an 11-story abandoned building. The hotel was built in 1974 and was a popular destination, but it was heavily damaged by the 2004 hurricanes. While there were attempts over the years to redevelop the site, nothing came about.
The company that owns the property will have eight years to obtain the permits to begin construction of the project after the existing building is demolished, which now must happen by early June.
If the company doesn’t complete the demolition in time, it will be required to put funds into an account so the city can take over the demolition promptly.