Port Orange-based LaCour & Co., headed by E.V. Buddy LaCour, and McGurn Investment Co. of Gainesville, headed by Ken and Linda McGurn, await a green light from Volusia County commissioners and the Florida Department of Community Affairs before starting an anticipated June groundbreaking on the estimated $750 million, 35-acre Port Orange Riverwalk redevelopment.

Plans for the five-phased redevelopment call for 600 condominiums in the $300,000 to $1-million price range; a 300-slip marina; a six-acre, mile-long boardwalk along the Halifax River; and an undetermined amount of retail and restaurant space, according to the developers' website.

Ken McGurn tells GlobeSt.com the project probably won't break ground until year's end. "There is a certain amount of paperwork always associated with a project of this size and we just have to have the necessary patience," he says. "There are always certain specific questions the county and the state ask and we will, of course, respond as quickly and as thoroughly as we can."

He says he and his associates are confident the approvals will come. "This is a tremendous deal for the community as a whole," he adds. The city will end up permanently owning the riverfront real estate after the deal is done. The city and the developers to date have acquired 65% of the 35 acres needed to build Port Orange Riverwalk.

Port Orange is five miles south of Daytona Beach and about 55 miles northeast of Downtown Orlando. The City of Port Orange, with a permanent population of 50,000 and an estimated winter tourist population of 100,000, approved the project in December. The project's master developer of record is Port Orange River Walk LLP which combines the two development firms. The City of Port Orange is a partner in the project

Riverwalk is part of 221 acres the city's Community Redevelopment District decided in 1998 should be redeveloped as a new Downtown. At that time, the district said it would help fund a portion of the project, Port Orange sources in a position to know tell GlobeSt.com.

Area independent land planners tell GlobeSt.com Riverwalk, when completed, will compare with Faneuil Hall in Boston and Jacksonville Landing in Jacksonville, about 120 miles north of Port Orange.

LaCour & Co. has developed more than 250,000 sf of retail, office and warehouse space in Port Orange and Daytona Beach since 1999, according to its website. Among the projects are the OrangePort Business Park, 216 Charles St., the Florida Keys building, Meeker Station and Port Orange Pavilion.

McGurn Investment Co. currently is developing the $30-million Main Street Landing redevelopment along the Pithlachascotee River in Downtown New Port Richey. The company recently completed Union Street Station, a mixed-use complex in Downtown Gainesville.