Daytona Int'l Speedway's One Daytona mixed-use development project "has a new partner" in K.C.-based property management firm RED Legacy, according to a front-page piece by Eileen Zaffiro-Kean of the Daytona Beach NEWS-JOURNAL. ISC, which owns the speedway, has selected the firm as its "lead development consultant, taking over the role" from Atlanta-based Jacoby Development. Jacoby had been ISC’s lead partner on One Daytona since the mixed-use project was announced more than 18 months ago, "sharing in both financing and development of the massive retail and entertainment complex that’s planned to include a multiplex theater and Bass Pro Shops." ISC now will "take on full responsibility for financing, while RED Legacy helps with management of key development and leasing work and Jacoby shifts into more of a backstage role, assisting with existing tenant relationships." ISC Vice Chair & CEO Lesa France Kennedy said that "construction could begin next year, which is about a year behind the original time line." RED Legacy "developed" Legends Outlets K.C., a mixed-use retail complex across from ISC’s Kansas Speedway. France Kennedy said that "leasing efforts have gone on uninterrupted, and now those leases are the key focus." One such deal "is in the works to bring a 145-room, full-service boutique hotel that would be under Marriott International’s Autograph Collection brand." France Kennedy said that the Marriott contract "could be secured within the next few weeks, as could a deal with a food and beverage tenant." She added that the new tenant contracts "will dictate when infrastructure and construction work get underway," but she is "not concerned about ISC shouldering full financial responsibility now." France Kennedy: “We’ll phase the project. As we get critical mass leasing we’ll have the confidence as far as the financial aspects are concerned" (Daytona Beach NEWS-JOURNAL, 3/19).
