A large, open clearing in Daytona Beach, used for overflow parking during speedway events, may become the new site for major residential or commercial construction.

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The roughly 200-acre lot is located between Clyde Morris Boulevard and Jimmy Ann Drive in Daytona Beach; it is in the process of being rezoned by two subsidiary companies of NASCAR, Event Equipment Leasing and Southeastern Hay & Nursery, who own the property.

The city planning board and commission must approve the rezoning request for development to begin. The two subsidiaries of NASCAR are being represented by Cobb Cole law firm throughout the process.

NASCAR Lot 7 Planned District has served as an overflow parking lot for speedway events for several decades, but current zoning only allows for the construction of commercial or industrial buildings. However, if a new zoning designation is permitted, developers could use the property to build apartments or houses.

It could also allow for the construction of large-scale developments, like Tanger Outlets or One Daytona. However, no developer or specific project has been named.

Tanger Outlets, an outdoor outlet mall, opened in late 2016 near I-95 and LPGA Boulevard in Daytona Beach. It includes over 70 stores, ranging from designer goods, to dining, to budget-friendly retailers.

One Daytona, a newer development, opened in 2017, and is located directly across International Speedway Boulevard from the Daytona Speedway. It includes, two luxury hotels, a movie theater, a Bass Pro Shops, and varying options for dining.

Although both of these developments have attracted extensive tourism and revenue, there has also been a dramatic rise in residential development in and surrounding Daytona Beach within the last decade. According to the city of Daytona Beach, the surge was driven by a combination of low interest rates, strong in-migration and heightened demand for larger living spaces.

The rezoning request was scheduled to be proposed to Daytona Beach’s planning board on Oct. 22, emphasizing that the site is located near the highly-lucrative LPGA area. However, the request also emphasizes that the current land-use designation does not support residential uses, which suggests residential development as a likely possibility.

If the rezoning is approved, it will proceed to the city commission to be heard twice before approval, which will likely span well into 2027.

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