In order to convert a long-vacant asphalt lot into an upscale residential property, the city and developers are planning a new luxury apartment complex for downtown Titusville.
According to developers, such plans could eventually call for a new hotel as well.
The multifamily residential development dubbed Horizon at Sand Point, which will be constructed on South Washington Avenue near to Sandpoint Park and be completed in the spring of 2019, has received site plan approval.
Located at the northernmost point of the city, on the western side of U.S. Highway 1, the city has set its sights on redevelopment in an effort to improve the view for people entering downtown.
According to the designs submitted to the city, the project’s first phase will consist of 194 apartments in an eight-story building on the 7-acre site, with a total of 384 units planned for the land across several phases. The apartment building will provide direct views of launches from the Kennedy Space Center as well as views of the Indian River Lagoon.
Retail and offices will be located on the bottom floor, and apartments and condominiums will be located on the upper floors.
Although hotel designs could change before they are finally presented and approved, developers are considering a seven-story building with more than 120 flats. March 2025 is the timeframe for opening, according to a franchise agreement with Marriott Springhill Suites.
Source: Florida Today
Get the latest industry news and information from CRE-sources delivered right to your email inbox!
And we promise…no more than one email each morning.