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RICS 150

20 SEP 2017

Derek Muldowney MRICS: Daytona Raceway Redevelopment

The Daytona 500 is the most prestigious NASCAR race, and ranks with the Indianapolis 500 in US auto racing folklore. The race celebrates its 60th Anniversary in 2018 in a newly refurbished venue, thanks in large part to the efforts of Derek Muldowney MRICS.

Derek – President of Design & Development at International Speedway Corp (ISC) – led a major project named "Dayton Rising" to reimagine and redevelop the Daytona International Speedway between 2013 and 2015. 

The $400 million project increased the venue’s capacity to approximately 101,500 and provided wider and more comfortable seats. The number of restrooms doubled and there are now three times as many concession stands. In addition, it now features over 60 luxury suites with track side views and a revamped hospitality experience for corporate guests.

"On a daily basis I have to apply my analytical thinking and communication skills in order to motivate and effectively lead the different teams undertaking the design and planning of the project." - Derek Muldowney MRICS

Falling attendances

The Daytona rising project was implemented against a backdrop of falling attendances for racing events following the 2008 recession and declining television ratings. However, the owners of ISC announced increases in both revenue and operating income in 2016, the first financial year since the completion of the project, partly driven by the success of the redevelopment at Daytona. 

This carefully planned work helped to revitalise the American institution, providing it with the built environment that it needed to grow and flourish.

Derek completed a degree in quantity surveying at Trinity College Dublin and qualified as a chartered Quantity Surveyor in 1990. He drew on the broad range of transferable skills he’d gained throughout his career as he led the Daytona Rising project.