City officials confirm to GlobeSt.com Swerdlow Group has told them it would be difficult to do the project without the assistance of the eminent domain law. The law allows local, state or federal governments to condemn private property for public use, such as the construction of roads, bridges and comparable infrastructure. The controversy over governments using eminent domain to benefit private development has surfaced in several major national markets over the past three years.
Brokers and construction industry consultants familiar with the Daytona Beach scenario tell GlobeSt.com Swerdlow Group will have to negotiate with about 16 local landowners to buy their properties separately if the city declines to use eminent domain to help the developer.
"That wouldn't hurt Swerdlow's chances of doing the project, either, because many of those property owners have owned their properties for 20 years or more and are ready to cash out," a local broker who may be involved in some of the transactions tells GlobeSt.com. "It will just be a little more time-consuming for Swerdlow to do it that way," the broker adds.
Swerdlow's planned 25-story condo tower would face Ocean Avenue near the new home of the International Swimming Hall of Fame. The swim group has been based in Fort Lauderdale, FL since 1961, area brokers tell GlobeSt.com. Swerdlow Group and aquatic center officials couldn't be reached to learn what secondary land-acquisition plans they might have if the city rejects their eminent domain request.
However, according to an informal proposal submitted by Swerdlow Group to the city, about $17 million of the estimated $34.5 million redevelopment tax generated by local condominium communities would be used to build the swim center. The balance would be used for improvements in the city's urban redevelopment area.
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