Prospect Real Estate Development to Build $32 Million Advantis on the Harbor Apartment Complex in Palm Bay
By Space Coast Daily // May 3, 2022
Construction expected to start in May 2022 and take about 20 months
BREVARD COUNTY • PALM BAY, FLORIDA – Prospect Real Estate Development Group announces a $32 million deal to build a 171-unit apartment complex on Dixie Highway in Palm Bay.
The project is a joint venture with Advantis Development and Midtown Capital Partners.
“Advantis on the Harbor is in a prime location, just a minute away from the beach with easy access to downtown Melbourne,” said Richard G. Zahn, Sr., chairman of Prospect Real Estate Development Group, which has more than $2 billion in commercial, multi-family and single-family projects completed or in progress nationally.
“The long list of amenities will make this apartment building a coveted place to live for the flourishing Palm Bay community.”
The 171-unit project will include 69 one-bedroom units, 90 two-bedroom units, and 12 three-bedroom units, and will offer many amenities including a fitness center with state-of-the-art equipment, a yoga room, and a spin room, a business center with a lounge and private work booths, a parcel pending room, a community lounge with game room and kitchen, a resort-style pool with outdoor kitchens and lounge spaces, a recreation area, a dog park, and a carport and parking garages.
Construction is expected to start in early May 2022 and take about 20 months. BCC Construction, owned and operated by Prospect Real Estate Development Group, is the general contractor.
ABOUT PROSPECT REAL ESTATE DEVELOPMENT GROUP
Prospect Real Estate Development Group (Prospect) is a diversified, vertically integrated, real estate investment and development corporation owned by Richard G. Zahn, Sr., Chairman of Prospect, and his wife Michele Zahn, President & CEO.
Prospect has a 25-year history of acquiring, constructing, and developing affordable, workforce, and luxury multifamily housing, and mixed-use real estate throughout the U.S.
Prospect owns and operates a variety of companies including Advantis Development, a full-service real estate development company specializing in multifamily assets.
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