Florida is an epicenter of land development, as waterfront properties and other desirable plots of land are often earmarked for new and exciting real estate projects. When some areas open for development already include required development features, this can ease the restraints of environmental laws on the project.
Such is the case for a new construction venture slated to begin in the spring of 2021, near a famous Florida spaceport, where developers plan to build a variety of commercial buildings that could bring new jobs to the area.
Sale made in cash
Florida Today reports that a property company based in Ohio bought over 20 acres of land near the spaceport and paid nearly $3 million in cash to gain ownership of the property. The acreage was not in use at the time of the sale; however, the new owners are already putting development plans into motion.
The property contains some utilities
The buyer of the vacant land believes it an effective setting for a variety of businesses, from warehouses to office buildings and even restaurants, because of its construction-ready status. The property contains water and sewer hookups, which means the development will not require certain permits that sometimes make developments near waterfront properties difficult. The development space sits near a causeway over the Indian River; however, the property already has a commercial zoning specification, one that may streamline construction on the large area of land.
Leasing to begin in 2021
The sewer, electric and established roadways in the area may allow the company to begin leasing out building space as early as the summer of 2021. The new owners hope to attract local businesses and larger commercial companies to the completed project.