Kirby Industrial Area
The Kirby Industrial Area offers ample industrial land inventory and great opportunities for tax increment revenue generation. Because of this revenue potential, industrial development is an important component of the Bayfront Community Redevelopment Plan. The total acreage of vacant and improved property is approximately 394 acres with the following proposed land uses: 41 acres of commercial, 253 acres of industrial and 84 acres of single-family residential, 2 acres of public open space and 14 acres of mobile home residential.
The primary goal is to enhance a main Palm Bay Village entry corridor along Palm Bay Road with primarily commercial uses and revitalizing the adjacent residential neighborhood, support the City, Economic Development Commission of the Space Coast, or other economic development initiatives which encourage new industrial development and create jobs, enhance the tax base and compliment the character of this District.
Aqua Residences - The project, consisting of over 300 apartment units at the north end of Robert J. Conlan Blvd., is slated for completion in late 2019.
City Creates SMART Areas
As part of an aggressive Economic Development Program to assist existing businesses expand, to help create new businesses, and to make Palm Bay competitive with adjacent cities in Brevard County and other cities in the State of Florida, the City of Palm Bay has designated four (4) areas in the City as Sustainable Market and Reinvestment Target (S.M.A.R.T.) Areas.
One of the SMART Areas, the Riverview SMART Area, includes a large portion of the industrial and commercial areas of the Bayfront Community Redevelopment District (BCRD). By creating the SMART Areas, property owners in the designated areas, including those in the BCRD, can take advantage of state financial and economic incentives to help in either redeveloping or developing their properties.
The Palm Bay Enterprise Zone (EZ-0502) is located in the Northeast section of the city. It includes Commerce Park Drive, Kirby Industrial Circle and the surrounding area.