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.
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.
City Creates SMART 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.