Palm Bay, FL – The City of Palm Bay continues to be a hotbed of activity, with new construction projects popping up all over town. From residential developments to commercial ventures and everything in between, Palm Bay is growing at a remarkable pace. This month’s report offers a detailed look at the latest development projects, highlighting trends and observations about the city’s dynamic growth.

Palm Bay 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)
  • August 29th 2024: 3,705 units (+98 since June 27th, +620 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)
  • August 29th 2024: 475 units (+34 since June 27th, +148 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)
  • August 29th 2024: 146 units (+20 since June 27th, +60 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)
  • August 29th 2024: 3,343 units (+120 since June 27th, +678 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) - August 29th 2024: 1,338,166 sq ft (+180,250 since June 27th, +563,472 since April)

Note: Commercial space totals for June and August 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

Total Units (August 29th): 4,144

Housing Breakdown (August 29th):

  • Single-Family Homes: 3,705 units
  • Townhomes: 475 units
  • Duplexes: 146 units

Development Projects (August 29th):

  • 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

Apartment Units

- Total Units (April): 2,665 - Total Units (June 6th): 3,085 - Total Units (June 27th): 3,223 - Total Units (August 29th): 3,343

Apartments Under Construction (August 29th):

  • 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
  • Essence- Multi-Family: 118 units (NEW)

Apartments Under Review (August 29th):

  • 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
  • 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 - Total Square Footage (August 29th): 1,338,166

Commercial Projects by Category (August 29th):

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):
  • Space Coast Credit Union: 2,500 sq ft (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:

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:

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 the city of Palm Bay published on August 29, 2024 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.