The local economy in the region of LPGA Boulevard and Interstate 95 could be boosted by the development of another mall by one of the leading outlet mall developers in the country.
Outlet malls of today have nothing in common with the ‘factory stores’ that were once situated in places such as Boaz, Alabama. The outlet centers being constructed now across Florida often offer consumers high-end brands and merchandise specifically made for outlets. A survey done during 2004 on American outlet malls discovered that shoppers are willing to travel greater distances and remain at these centers 60% longer than they would at traditional malls, which results in them participating in other activities, such as having a meal, as they have had to drive further.
This could be the reason why outlet mall space has grown in excess of 5% during 2014, compared with 0.32% for traditional malls.
The proposal for LPGA Boulevard won overall approval from the Daytona Beach Planning Board. It will contain 380000ft² of retail space, along with other facilities. It is possible that the plot next to it may be used to erect a members-only warehouse store, Sam’s Club.
The project, code-named ‘Project Shopper’, is due to be completed by Tanger Outlet Centers Inc, North Carolina. The group operates a single outlet mall in Fort Myers, Florida, but is one of the largest outlet mall operators in the nation. It is currently busy with a project of similar size in Byron Township, Michigan, which offers around 1000 part and full-time jobs.
The proposed project has not been finalized as the city would have to schedule amendments to its comprehensive in a bid to allow this form of development and it is possible that governmental agencies may still object. However, the site is ideal for this form of development, as well as warehouses and other projects which could create jobs. The infrastructure to support this type of large-scale development is already available at the interchange.
In fact, the LPGA corridor needs this form of development. Since it was first introduced two decades ago, the residential area has had limited success, but the retail offerings have been inadequate.
If the project goes ahead, the local tax base will be increased and the choice of amenities could lure companies that could boost the job market.
The advent of Trader Joe’s and One Daytona has brought exciting changes around the Speedway. These large changes could turn around the area and boost jobs and the number of visitors to the region, which will be advantageous for the locals.