Palm Bay, FL - The Palm Bay community stands on the cusp of transformative growth as the latest development projects take shape. The June 2024 analysis offers an in-depth look at key initiatives aimed at boosting economic vitality, enhancing infrastructure, and improving quality of life for residents. This comprehensive review highlights the strategic investments and collaborative efforts driving the city’s progress, with particular focus on the most impactful projects underway. Join us as we explore the pivotal developments set to redefine Palm Bay’s landscape and future.

Development Project Totals Comparison:

  • Single-Family Homes:April 2024: 3,085 units
  • June 6th 2024: 3,521 units (+436)
  • June 27th 2024: 3,607 units (+86 since June 6th, +522 since April)

Townhomes:

  • April 2024: 327 units
  • June 6th 2024: 419 units (+92)
  • June 27th 2024: 441 units (+22 since June 6th, +114 since April)

Duplexes:

  • April 2024: 86 units
  • June 6th 2024: 126 units (+40)
  • June 27th 2024: 126 units (no change since June 6th, +40 since April)

Apartment Units:

  • April 2024: 2,665 units
  • June 6th 2024: 3,085 units (+420)
  • June 27th 2024: 3,223 units (+138 since June 6th, +558 since April)

Commercial Space (sq ft):

  • April 2024: 774,694 sq ft
  • June 6th 2024: 1,023,386 sq ft (+248,692)
  • June 27th 2024: 1,157,916 sq ft (+134,530 since June 6th, +383,222 since April)

Note: Commercial space totals for June are estimates due to the lack of specific square footage for some projects.

Housing Units (Excluding Apartments)

Total Units (April): 3,498

Total Units (June 6th): 3,966

Total Units (June 27th): 4,044

Delta (June 27th - June 6th): +78

Delta (June 27th - April): +546

Housing Breakdown (June 27th):

  • Single-Family Homes: 3,607 units
  • Townhomes: 441 units
  • Duplexes: 126 units

Development Projects (June 27th):

  • Timbers at Everlands: 840 Single-Family Homes
  • Cypress Bay West Phase 3: 544 Single-Family Homes
  • Cypress Bay West Phase 2: 446 Single-Family Homes & 124 Townhomes
  • Malabar Springs Phase 1: 317 Single-Family Homes
  • Chaparral Phase 3: 165 Single-Family Homes
  • Palm Vista Everland Phase 1: 162 Single-Family Homes
  • Gardens at Waterstone Phase 3: 171 Single-Family Homes
  • Gardens at Waterstone Phase 2: 174 Single-Family Homes
  • Gardens at Waterstone Phase 1: 154 Single-Family Homes
  • Country Club Lakes Estates Phase 5: 150 Single-Family Homes & 46 Duplexes
  • Richmond Cove: 86 Single-Family Homes
  • Bayside Landings: 123 Single-Family Homes
  • St. Johns Preserve Townhomes: 120 Single-Family Homes
  • Whybrew Subdivision: 34 Single-Family Homes
  • Lipscomb Townhomes: 202 Townhomes
  • Bramblewood Bay: 92 Townhomes
  • Advantis on the Harbor: 171 Single-Family Homes
  • Country Club Lakes Estates Phase 4: 68 Single-Family Homes
  • Emerald Lakes West Phase II: 233 Single-Family Homes
  • Bilda Multi Family: 120 Apartment Units (NEW)
  • San Filippo Commercial Complex (Retail Building 10 Units): (NEW)
  • Logan Marine Complex: (NEW)
  • Tibbett Truss Plant: (NEW)

Projects in bold with an asterisk () are new additions to the development report since the last update.*

Apartment Units

Total Units (April): 2,665

Total Units (June 6th): 3,085

Total Units (June 27th): 3,223

Delta (June 27th - June 6th): +138

Delta (June 27th - April): +558

Apartments Under Construction (June 27th):

  • East Shore Apartments: 656 units
  • Port Malabar Apartments: 305 units
  • Palm Breeze Apartments: 264 units
  • Crown Square: 252 units
  • Nathi Reserves Apartments: 72 units
  • Adelon Multi Family Apartments: 270 units
  • Forest Lakes Apartments: 51 units
  • Space Coast Commons: 31 units
  • Mercury Cove Apartments Phase 5: 32 units
  • Coconut Palms: 32 units
  • Gardenia Fountains Apartments: 30 units
  • Palm Bay Apartments: 24 units
  • Bellz Apartments: 8 units
  • Opus Apartments: 14 units
  • Agora Village: 34 units
  • Palm Bay Haven Apartments: 20 units

Apartments Under Review (June 27th):

  • Harbor Pointe Apartments: 352 units
  • Stellar Casitas: 266 units
  • Londale Apartments: 261 units
  • Rivers Edge Apartments: 150 units
  • AIS Bay Apartments: 80 units
  • Bilda Multi Family: 120 units (NEW)
  • The Palms Apartments: 48 units

Commercial Space (Excluding Apartment Complexes)

Total Square Footage (April): 774,694

Total Square Footage (June 6th): 1,023,386

Total Square Footage (June 27th): 1,157,916

Delta (June 27th - June 6th): +134,530

Delta (June 27th - April): +383,222

Commercial Projects by Category (June 27th):

Storage Units:

  • Malabar Storage: 86,903 sq ft
  • Cube Smart Self Storage: 67,630 sq ft
  • Malabar Mini Storage: 64,000 sq ft
  • Palm Coast Mini Storage: 115,000 sq ft
  • Conlan Bay Storage: 96,174 sq ft
  • StorSafe Storage of Palm Bay: ~101,000 sq ft (estimated based on April data)
  • First Choice Storage: 35,000 sq ft
  • Cogan Plaza at Bayside Lakes (3 Story Storage Building): 36,000 sq ft
  • Guyah Storage Yard: 11,070 sq ft
  • Mr. Stor-It: 65 Units (estimated sq ft based on typical unit sizes)
  • Palm Bay Shopping Center (estimated sq ft based on typical storage unit sizes)
  • Tibbett Truss Plant (estimated sq ft based on typical storage unit sizes)

Retail:

  • Shoppes at Cypress Bay (Grocery Store & Retail): 69,787 sq ft
  • Publix at Heritage Square: 67,287 sq ft
  • Aqua Retail: 46,008 sq ft
  • Crown Square (Retail & Grocery Store): 32,500 sq ft
  • San Filippo Commercial Complex: 15,440 sq ft
  • Bravo Supermarket: 22,500 sq ft
  • Cogan Plaza at Bayside Lakes: 11,282 sq ft
  • San Filippo Commercial Complex (Retail Building 10 Units): (NEW)

Industrial/Warehouse:

  • I.O Kirby Warehouse: 16,800 sq ft
  • Kirby Circle Warehouse: 26,200 sq ft
  • Fruit Distribution: 16,500 sq ft
  • Far Chemical Warehouse: 4,768 sq ft
  • Transom Paddock: 10,500 sq ft
  • Logan Marine Complex: 7,280 Sq Ft
  • Transom Paddock: 10,500 sq ft
  • Tibbett Truss Plant: 70,500 sq ft
  • Tibbett Truss Plant: (NEW)

Office Buildings:

  • Epler Park (Medical Office Building): 20,125 sq ft
  • Vakani Orthodontist: 5,888 sq ft
  • Patrick Harrack Office Building: 2,633 sq ft
  • Torres Office Building: 1,200 sq ft
  • Malabar Commerical Mixed Use: 3,200 sq ft
  • Logan Marine Complex: (NEW)

Religious Buildings:

  • Grace Bible Church Addition: 6,060 sq ft
  • Philadelphie Community Church: 2,400 sq ft

Automotive:

  • Mavis Discount Tires: 13,904 sq ft
  • J & C Automotive: 5,640 sq ft

Educational Facilities:

  • Odyssey Preparatory Academy: 32,654 sq ft

Gas Stations/Convenience Stores:

  • Circle K (Babcock Street): 4,625 sq ft
  • Circle K (St. Johns Heritage Parkway): 5,200 sq ft
  • Valkaria Convenience Store/Gas Station: 5,000 sq ft

Restaurants:

  • Crown Square (Restaurants): 6,193 sq ft
  • Tex Mex Restaurant: 2,493 sq ft
  • Dairy Queen: 2,208 sq ft

Miscellaneous:

  • Pure Life Pools: 1,440 sq ft

Trends and Observations:

  • Continued Residential Growth: Palm Bay continues to see strong residential development, with a notable increase in townhomes.
  • Sustained Apartment Construction: The consistent growth in apartment units under construction and review highlights the demand for multi-family housing options in the city.
  • Focus on Storage Units: Storage facilities continue to be a major area of development, reflecting the need for storage solutions in Palm Bay.
  • Commercial Diversification: The city’s commercial sector continues to expand and diversify, with projects ranging from retail to industrial/warehousing and office buildings.
  • Emergence of Educational Facilities: New educational facilities like Odyssey Preparatory Academy indicate an increasing emphasis on expanding educational resources in Palm Bay.

Assumptions and Limitations:

  • The analysis is based on the provided data and may not be exhaustive of all development projects in Palm Bay.
  • Project timelines and details may be subject to change.
  • Square footage calculations for some projects are estimates based on available descriptions.