Daytona Beach, FL – Construction officially begins for the over $100 million Tanger Outlets mall in Daytona Beach.
Hundreds were in attendance as company officials hosted a wall-raising ceremony Wednesday morning at the construction site, an over 200 acre plot of undeveloped land near the corner of Interstate 95 and LPGA Boulevard owned by Consolidated Tomoka.
Among those on hand were Daytona Beach Mayor Derrick Henry and Volusia County Council Chairman Jason Davis. The city commission and county council each pledged $2.25 million in infrastructure improvements as part of the deal to get Tanger to build its 2nd Florida location in Daytona Beach.
The combined $4.5 million – which will be used for building the utilities, sewers and other types of public infrastructure needed before actual construction on the mall can begin – is subject to the developers hitting certain marks, including 70% of all the businesses at the mall being new to Volusia County.
Just prior to the wall-raising, Steven Tanger – the Chief Executive Officer for Tanger Outlets – told the crown that over 80 high-end retailers will be located at the 350,000 square foot mall once construction is complete. That’s expected to happen sometime around Thanksgiving.
The project may also feature a Sam’s Club, a possible high-end hotel and various parcels and outparcels which would make the rest of land ready to go for any future commercial development.
Officials expect the project to create around 400 construction jobs and over 800 permanent full-time and part-time retail jobs once Tomoka Town Center is ready to go, with annual salaries ranging between $33,000 to $52,000.
Tomoka Town Center is expected to generate over $50 million in tax money to Volusia County’s general fund and another $30 million to Daytona Beach’s general fund in the first 30 years of operation.
Click here to see photos of the ceremony.
Copyright 2016 Southern Stone Communications.