Melbourne City Centre - Commercial
Melbourne Commercial Development Opportunity
Marketing description
Melbourne City Center is a proposed sustainable mixed-use development consisting of single-family homes, apartments, a retail center, medical and professional campus, senior living facility, university site, charter school, and restaurants and entertainment. The tremendous site along with its mix of usages attracts residents, professionals, university students, and consumers. The development lives in the heart of the Space coast, near Cape Canaveral, which hosts The Kennedy Space Center.
The property is situated on Babcock Street and Pirate Lane, located in the City of Melbourne. The visibility of South Babcock Street benefits from high traffic count. The site strategically sits East of Interstate 95 and South of Orlando-Melbourne International Airport.
Melbourne City Center is designed to establish a sustainable mixed-use development and innovation hub. The site is strategically located on Babcock Street and Pirate Lane, with a traffic count of 36,000. The development will consist of single-family, apartment, retail, medical and professional, senior living, education, and entertainment.
Investment highlights
Fabulous location! East of N Federal Hwy in desirable Melbourne, FL. Melbourne City Center Development is a newly qualified Opportunity Zone as designated by the U.S. Treasury Department. This new investment vehicle was created as part of the Tax Cuts and Jobs Act of 2017 to incentivize investment in targeted communities called Opportunity Zones.
Opportunity Zones if they have been nominated for that designation by the state and that nomination has been certified by the Secretary of the U.S. Treasury via his delegated authority to the Internal Revenue Service. This Federal Program is designed to bring investment and development into an area allowing the investment and businesses to roll over capital gain investments through an opportunity fund into a property in these state-designated tracts –bases on census numbers – in exchange for a substantial tax reduction. Opportunity Funds allow investors to defer federal taxes on any recent capital gains until December 31, 2026, reduce that tax payment by up to 15%, and pay as little as zero taxes on potential profits from an Opportunity Fund, if the investment is held for 10 years.
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