Commercial Waterfront Development Opportunities
The City of Palm Bay and the Bayfront Community Redevelopment Agency (CRA) jointly own approximately seven acres of uplands on U.S. Highway 1/Dixie Highway. A portion of this assemblage includes the Pelican Harbor Marina, a former active marina providing rental of boat slips and facilities. Currently, the City and CRA lease the existing building to Paddling Paradise, a recreational paddling and kayaking rentals company and long-standing partner of the City. The City and CRA are actively seeking development opportunities for the waterfront property, specifically commercial restaurant, retail, boating, and other water-related recreational services. Such development will serve as a catalyst for future waterfront development, an integral component for the creation of a Bayfront downtown village concept.
Leading Technology Companies - Mergers & Expansions
The City of Palm Bay is home to major defense and information communication technology contractors as well as aviation and aerospace engineering employers such as Raytheon Technologies, Renesas Electronics, and L3Harris’s 136-acre campus (formerly Harris Corporation). The City is also home to Florida Tech’s Research & Development Center focusing on innovation, development and economic growth on the Space Coast.
In fall of 2018, defense and cybersecurity contractor Raytheon Technologies completed renovations at their 68,000 square-foot manufacturing facility. This formerly vacant facility in the City serves as an expansion of Raytheon’s Massachusetts-based operation and has been upgraded to meet federal security specifications. This expansion is expected to bring 500 new high-tech jobs in two phases to City of Palm Bay.
Center for Advanced Manufacturing & Innovative Design
Florida Tech’s Center for Advanced Manufacturing and Innovative Design (CAMID) is expected to open in fall 2019. CAMID is a 100,000 square-foot facility featuring the latest digital modeling, simulation and visualization technology, cutting-edge computer-driven manufacturing equipment, 3-D metal and other material printing, industry-leading experts and resources, and hands-on experience with latest digital development and manufacturing software and hardware to name a few.
Community & Neighborhood Stabilization
The Evans Center
In winter 2019, the City of Palm Bay and the Bayfront CRA welcomed the grand opening of The Evans Center, located within the Driskell Heights neighborhood. The Evans Center is a $1.5 million project funded by the Florida Community Loan Fund, contributions from an anonymous donor, the Corporate Property Group, the Community Foundation for Brevard, the Space Coast Health Foundation, local businesses, churches, and residents, as well as a $250,000 allocation by the Bayfront CRA, to assist with the construction of a new building. The Center features a multi-purpose room for classes and community gatherings such as technology training, financial literacy, and community activities, a health clinic in collaboration with the Brevard Health Alliance and offers a full-service market and deli. The Evans Center is a critical project for stabilizing the community and stimulating economic growth in the Redevelopment District.
New Housing Projects
The Aqua Project
The City welcomes new Class A development projects such as The Aqua Palm Bay Apartments. This $52.9 million mixed-use development project consists of 320 new apartments offering luxury-style amenities with nearly 60,000 square feet of commercial restaurant and retail to be situated along Robert J. Conlan Boulevard.
Riverview Senior Resort
Riverview Senior Resort offering resort-style assisted living along the Indian River shoreline with phase two, an independent living facility expansion, anticipated in 2020. Phase two will provide 110 independent living spaces, dining and recreation space, as well as a lounge and bar with screened in patio, exercise room, and a club room.
Palm Bay Executive Park
Progress is well underway for the new Palm Bay Executive Park, located near Bass Pro Shops southeast of the Interstate 95 (I-95) at Palm Bay Road. The 10-acre site will be home to nearly 71,000 square feet of commercial space in total anchored by 16,914 square feet, 106-room Hyatt Place hotel and 12,570 square feet, 87-room Home2Suites by Hilton hotel. The two four-story hotels will be completed during Phase 1 of the development. The Executive Park will also feature over 41,000 square feet of additional commercial retail and restaurant out parcels consisting of 13,000 square feet of single-story, multi-tenant retail space in Phase 2, followed by an additional 12,500 square feet in Phase 3. Phases 4 and 5 will include two high-quality sit-down restaurants, totaling 7,400 square feet, and 8,500 square feet, respectively.
Motel 6 will demolish an existing building located to the southeast of the I-95 and Malabar Road interchange near Eastern Florida State College’s Palm Bay campus. Motel 6 will construct a new hotel as part of the company’s new pilot program. As part of their rebranding, Motel 6 will transition away from the economy lodging travel hotel to a business-class concept.
Health First held a groundbreaking ceremony for a new 12,000 square foot multi-purpose facility in the Bayside Lakes area on August 13th. The new medical center is designed to streamline the patient experience and will include 30 exam rooms, two procedure suites, radiology facilities and a lab. Once complete, the facility will be home to approximately five providers and employ about 20 staff members.