Jim Mack, a partner in Volusia Properties, said his Daytona Beach Shores condominium development group has abandoned plans to build 12 three-story condominiums on the one-acre parcel at 4958 S. Peninsula Drive.

Instead, he said, "We are planning to operate and upgrade the property as a dock facility, marina and repair yard. We have no intentions of asking for any residential development."

He also ruled out building a restaurant on the parcel, saying there wasn't enough land for adequate parking.

Mack said he and his partners believe they can recoup their investment by sticking with the status quo.

"We decided this area has a lot of condominium owners who have boats and they need this facility," Mack said.

Two years ago, the Ponce Inlet Town Council initially approved a rezoning that would have allowed Mack and his partners to raze the boatyard and put up townhouse-type condominiums. After a group of residents argued the boatyard should be preserved as an essential feature of the town's waterfront, the council reversed its rezoning decision.

Mack, local partner Al Koch and Naples partner Kenneth Goodman, forming a partnership called Lighthouse Boatyard LLC, bought the property Nov. 8 from John R. and Jean Hutchison. Mack said the elder Hutchisons have retired but other family members will continue to operate the 50-year-old business.

tom.brown@news-jrnl.com