The county’s final traditional beachfront condominium complex is taking shape in Satellite Beach on the former site of the 2004 hurricane-ravaged Ramada Inn resort, soon to be a 10-story, 108-unit complex called Oceana Oceanfront Condominiums.
The 108 condominiums in two towers will be three-bedroom units with a choice of three floor plans ranging in size from 1,911 square feet, to a mid-range model with 2,339 square feet and corner units with 2,472 square feet, featuring wraparound balconies.
Price points for the units range from $544,900 to $850,000 with sales going well so far, said listing agent and director of sales George Prescott of Blue Ocean Realty.
A total of 54 of the 108 units have been sold (17 units, or 31 percent, in the yet-to-be-built North tower), anticipating a March 2018 opening day for the complex which also includes a pool and recreation building, he said.
Mastermind of the project Maurice Kodsi, founder of Tricon Development, has developed more than a billion dollars worth of real estate during his 45-year career. He is described on the Tricon web site as responsible for “redefining the areas oceanfront landscape and donating beach front properties to local cities.’’
In a related 2005 land swap for the Oceana project, Kodsi traded the city a two-acre undeveloped oceanfront parcel off the end of Ellwood Avenue, which was already approved to become 24 condos, in exchange for the right to build taller buildings at the Ramada site. Of the many completed condo developments listed on the website, all but a few are located in Brevard County.
The Oceana property is unique in that it is wide enough for the complex to fit between SR A1A and the surf and has 800 feet of beach frontage located across from a shopping center with a stop light to help pedestrian traffic.
Other beachfront properties still available throughout the county are smaller or oriented incorrectly for a traditional condo complex, Kodsi said.
“There are small little pieces but there is no more land [like this] on the beach in Brevard County.”