Ground Breaks on First Phase of Space Coast Town Centre Multifamily
Posted on September 4, 2020
Melbourne, Fla. (September 3, 2020) – Construction officially commenced on the multifamily component of the highly anticipated Space Coast Town Centre, a mixed-use, walkable community featuring retail, hospitality, luxury residences, and office space at the junction of St. Johns Heritage Parkway, U.S. Highway 192, and I-95 in West Melbourne.
“As one of the fastest-growing regions in the country – given all the development in the technology, private defense, and aerospace sectors – it’s a compelling time to be a part of a multifaceted, walkable residential and business environment in the Space Coast region,” stated Edgar Jones, Principal, MultiVerse Global. “Coming to market not only with the office and retail space we know is supported by the number of residents in the region, but to also provide a housing option to the ever-growing employee-base here makes a lot of sense, and we’re proud to be a part of it.”
In the past several weeks, the project has gained momentum in the midst of the COVID-19 public health crisis with final approvals followed by closing on the first 300 multifamily units between Space Coast Town Centre I LLC, the project owner, Integra Land Company, the developer, and Integra Station LLC, the multifamily owner. Integra is well-known for its experience and capabilities in the development of luxury multifamily properties. Orlando-based Foundry Commercial was tapped by MultiVerse Global to market retail, office, and hospitality sites for sale within the 170-acre high-end community.
On September 1, representatives from MultiVerse Global, Integra Land, Foundry Commercial, DRI, DFI Construction, and MBV Engineering met at the site to officially break ground on the first phase of the multifamily project, which has been named Integra Station at Space Coast Town Centre.
“As the only mixed-use development to be approved to date in West Melbourne, we stand at the precipice of a unique opportunity to bring to residents a stunning, high-quality and exceptionally convenient multi-family option to this region,” stated David McDaniel, President of Integra Land Company.
With an anticipated completion date of 20 months, the first phase of Integra Station is poised to offer premier, upscale multi-family apartments, featuring one, two, and three-bedroom units. Unlike many of the surrounding apartment options in the area, these planned residences at the Space Coast Town Centre development will feature beautiful amenities and elevators leading to four distinct stories of individual units, making luxury living amid the convenience of dining and other service opportunities planned for employees of the business park and the Integra Station residents. Integra Station will be professionally managed by JMG Realty, Inc.
“What really makes this site unique is its proximity to St. John’s Heritage Parkway designed to help relieve the traffic in the area. With so many homes going up in the area in the past several years, there was a real need to alleviate the congestion on I-95 and U.S. 192. Now, with the relief route, those working in the technology, space and defense industries can easily travel between work and home,” said Cooper Jones, Senior Associate, Foundry Commercial. “We’re proud to be a part of this major Space Coast project. Foundry brings a depth of knowledge especially with respect to retail, office and hospitality that is unparalleled.”
Space Coast Town Centre will include hundreds of thousands of square feet of office, retail and hospitality; a grocery store; luxury multifamily housing units; and an attractive lake serving as the focal point for the waterfront plaza and surrounding buildings.
About MultiVerse Global
MultiVerse Global is a real estate company dedicated to accumulation of wealth through the talents and experience of its two founders, Edgar Jones and Bob Gorlow. MultiVerse invests in land and buildings that are large enough to make a difference in their neighborhoods; targeted towards the changing tastes of all demographic groups, especially millennials and baby-boomers; located such that there can be walkable elements in their communities; and benefit from an innovative and integrated mix of uses and the creation of delightful spaces. The MultiVerse team’s collective experience running offices for the Rockefeller Group, Prudential, Cushman and Wakefield, and Security Capital have led to successes that not only include the approval of American Dream Miami for Triple Five Worldwide, but projects from Palm Beach to Santa Fe.
About Integra Land Company
Headquartered in Lake Mary, Florida, Integra specializes in identifying new sites for development as well as shaping bold and innovative designs into sound income producing resources. ILC is able to take overlooked multifamily housing opportunities, integrate traditional multifamily principals and create innovative results.
About Foundry Commercial
Foundry Commercial is a full-service real estate services and investment company with 300 employees and more than 50 million square feet of management and leasing across the Southeast and Texas. Foundry provides corporate services, brokerage, leasing, building management and project management services, and is the largest real estate service provider to religious and not-for-profit organizations in the Country. Foundry also includes a development and investment platform that is fully integrated into its services business, leveraging its local market expertise to control more than one billion in advantaged investment opportunities with their JV partners. Foundry Commercial was founded as CNL Commercial Real Estate in 2007 and launched as Foundry in 2015 through a management-led buyout. For more information, visit www.foundrycommercial.com.
Lauren Leetun, APR