PALM BAY, Fla. — The City of Palm Bay has plans for a new business park in part of a mostly vacant 2,700-acre area known as the Compound.
The Phoenix Business Park will be located in the northeast portion of the property near J.A. Bombardier Boulevard. The state has awarded the city $3.5 million through the Florida Job Growth Grant Fund to help build wastewater infrastructure.
Palm Bay is committing another $1 million in matching funds for its planned Phoenix Business Park. City officials say the infrastructure could support about 960,000 square feet of future industrial and commercial space, with a focus on advanced manufacturing and aerospace.
In recent years, the Compound has been the site of illegal activity and unauthorized recreation.
Mayor Rob Medina says the new development won’t solve those issues, but the city hopes that investing in infrastructure will help change the property’s direction.
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