Construction of Melbourne condo development may start in spring

Tricon Development plans to build twin 100-foot condo buildings just north of downtown Melbourne along U.S. Highway 1

TRD MIAMI /
Dec.December 03, 2017 11:45 AM

Rendering of Paramount Condominiums in Melbourne

Merritt Island-based Tricon Development expects to break ground in spring for construction of twin 100-foot condominium buildings in Melbourne.

Tricon’s riverfront development, called Paramount Condominiums, would have 72 units ranging in size from 2,079 square feet to 2,346 square feet, each with three bedrooms and three bathrooms. The development also will include a one-story recreation building and an outdoor swimming pool.

The grassy site of the development along U.S. Highway 1 just north of downtown Melbourne has been vacant since a motel, an apartment building and other properties there were demolished a decade ago.

Tricon has revised the site plan for Paramount Condominiums to shift the buildings closer to U.S. 1 and has reduced the number of condo units to 72 from 85.

Maurice Kodsi, founder of Tricon, told Florida Today that 50 percent of the condos will be corner units, which are “like a home instead of an apartment.”

The Melbourne City Council granted preliminary approval of a site plan change for Paramount Condominiums and is scheduled to consider final approval on Dec. 12.

Tricon is developing another condo project in nearby Satellite Beach, called Oceana Oceanfront Condominium, which will be twin 96-foot buildings with three-bedroom units available at prices ranging from $554,900 to $829,900. [Florida Today] Mike Seemuth


Related Articles

arrow_forward_ios
Gables Town Colony apartment complex, Sue Ansel of Gables Residential

Gables Residential scores $85M loan for Boca Raton apartment complex

Gables Residential scores $85M loan for Boca Raton apartment complex
Broadstone City Center with Alliance Residential’s Bruce Ward and Nuveen CEO Jose Minaya

Nuveen pays $103M for West Palm luxury apartments

Nuveen pays $103M for West Palm luxury apartments
Edmund Ansin and the property (Credit: Google Maps)

Billionaire TV family sells Miramar property to Florida Crystals

Billionaire TV family sells Miramar property to Florida Crystals
Toscana apartments and Juan Porro of FCI Residential

Florida Crystals sells Margate rentals for $60M

Florida Crystals sells Margate rentals for $60M
From left: Andrea and Renzo Rosso

Diesel family dishes on Wynwood condo project

Diesel family dishes on Wynwood condo project
 4601 Le Jeune Road, Jose Boschetti and Maurice Boschetti

Gables Residential sells dev site near Shops at Merrick Park

Gables Residential sells dev site near Shops at Merrick Park
Greg Pinkalla and ORA Flagler Village Apartments (Credit: Google Maps)

Fairfield Residential sells new Flagler Village apartments for $92M

Fairfield Residential sells new Flagler Village apartments for $92M
Construction of downtown Hollywood high-rise may start soon

Construction of downtown Hollywood high-rise may start soon

Construction of downtown Hollywood high-rise may start soon
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...