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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
December 03, 2017 11:45AM

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