Melbourne marina site may be redeveloped

The city agreed to sell the 7.1-acre property for a project called Riverwalk Marina

TRD MIAMI /
Oct.October 01, 2017 12:00 PM

Rendering of Riverwalk Marina

The city of Melbourne plans to sell the site of a closed marina and razed restaurant for redevelopment as a cluster of restaurants, hotel rooms and marina slips.

The Melbourne City Council decided in a unanimous vote to sell the city-owned property for $2.2 million to River Walk Marina Park Partners LLC, the company behind the planned development, called Riverwalk Marina.

The estimated cost to build Riverwalk Marina – a cluster of three restaurants and a seven-story, 100-room hotel with an 81-slip marina – ranges from $25 million to $30 million.

The land the city agreed to sell includes 4.4 upland acres and 2.7 acres of leased submerged lands. The closing is pending a 90-day inspection period so the developer can ensure the property is suitable for its planned project.

The site is known as the old Coral Bay Restaurant-Intracoastal Marina property. The city of Melbourne bought it in 2013 for $1.375 million, then tried but failed to lease the land to a developer.

Crews recently cleared the site following demolition of the degraded metal frame of an abandoned dry-storage building for boats. [Florida Today] Mike Seemuth


Related Articles

arrow_forward_ios

State report finds open gas valve fueled building explosion at Plantation shopping center

Bayside Marketplace is planning another high-rise entertainment venue with a view

Construction of downtown Hollywood high-rise may start soon

South Florida firm, partner acquire Tampa office building for $29.4M

Developer borrows $105M, breaks ground for mixed-use Flagler Village project

Moishe Mana plans mixed-use project with logistics theme next to airport in Panama

Power restored after blackout envelopes West Side of Manhattan

Virgin Trains may announce 3 new train station sites in South Florida by year-end

arrow_forward_ios