Housing and Commercial Growth in Palm Bay: Latest Developments

Latest Numbers as of August 29, 2024: 4,144 Housing Units, 3,343 Apartment Units, and 1.34 Million Sq Ft of Commercial Space

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.