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

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
From left: Jim Cohen, Nancy Corey, Nathan Zeder, Alicia Cervera Lamadrid, Phil Gutman and Mike Pappas (iStock)
South Florida’s pandemic-fueled residential market poised for bull run in 2021
South Florida’s pandemic-fueled residential market poised for bull run in 2021
Kathleen DuRoss Ford and 300 North Lake Way (Getty, Google Maps)
Kate Ford’s Palm Beach estate sells for $55M
Kate Ford’s Palm Beach estate sells for $55M
Oprah Winfrey and (inset) Lawrence Stroll over the unit (Getty)
You get a condo! Billionaire Lawrence Stroll sells Oprah’s former Fisher Island penthouse
You get a condo! Billionaire Lawrence Stroll sells Oprah’s former Fisher Island penthouse
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
arrow_forward_ios

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

Loading...