Apr 16, 2014, 3:41 PM EST
NASCAR’s birthplace, the Streamline Hotel in Daytona Beach, Fla., is going to be – well, streamlined.
According to Wednesday’s Daytona Beach News-Journal, the hotel where NASCAR was formed back in 1947, will soon undergo extensive renovations to bring back some of the hotel’s luster of days gone by.
The hotel, located just north of Daytona Beach’s downtown area, was reportedly purchased last month for $950,000 by Eddie Hennessy, son of the founders of the Pevonia International cosmetics company, Phillippe and Sylvie Hennessy.
Eddie Hennessy told the newspaper that he plans on restoring the Streamline’s original art deco theme and renovate it into a South-Beach-style boutique hotel.
“My goal is to clean up the hotel, the block, the drug stuff going around,” Hennessy said. “We’re bringing the hotel back to its original state, only more modern.”
NASCAR will once again be well-represented in the building that gave birth to it, with plans for a stock car racing-themed lounge for race fans to visit and enjoy.
Over the last several decades, the hotel had fallen from its once luxurious grandeur. It also was overtaken by larger and more modern hotels nearby.
“I hope that the new owners come in and bring the hotel up to the standards we have on the east side and west side (of Volusia County),” Bob Davis, president and CEO of the Hotel & Lodging Association of Volusia County, told the News-Journal. “We seem to be on the right track now.”
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