Space Coast Marinas Buys Pelican Harbor

The City of Palm Bay, Florida has accepted a contract from Space Coast Marinas LLC for the purchase of Pelican Harbor Marina.

Space Coast Marinas submitted a counteroffer of $1.7M to purchase the marina for the development of a dry dock boat storage and service facility, boat launch and wash service, boat club, ship store, tiki bar with an outdoor entertainment venue, restaurant, and retail amenities to include a valet service. Space Coast Marinas intends to renovate the existing marina slips and construct and maintain a public boardwalk along the waterfront. The overall capital investment for this development project is expected to be at least $10-12M and create approximately 302 new jobs. The developer has also purchased two privately owned parcels, a 0.37-acre vacant site and the Bait & Tackle.

The buyer will retain the existing 1,600 square-foot facility that houses Paddling Paradise under a month-to-month lease with the City. Paddling Paradise has offered kayak and stand-up paddleboard rentals and tours at this site for nearly two years, generating ecotourism to Turkey Creek and the Indian River along Palm Bay’s bayfront.