0 S Ocean Rd
Fort Pierce, FL 34949

The project is permitted as 2 separate parcels; Pelican Reef for the south 500 feet and Turtle Nest for the north 500 feet. The environmental permitting is complete (details & permits available). There is common, but not identical ownership structure; however, it should be considered as a single parcel even though they are permitted as separate parcels. Turtle Nest & Pelican Beach comprise 1,000 feet (north to south) with 1,092 feet of direct ocean frontage. The property is the southernmost site available for development adjacent to 2 miles of protected beaches and lands to the south. It is 6 miles south of the Ft Pierce Inlet and 16 miles north of the St. Lucie (Stuart) Inlet. There is a causeway to the mainland at Ft. Pierce and at Jensen Beach 9 miles to the south as well as Stuart, another 4 miles further south. The lands are currently approved for 15 single family lots that are (nominally) 75 feet wide. The area east of A1A is 14+/- acres. The 26+/- acres west of A1A extend to the Indian River Lagoon. A permit to allow for a path through the wetlands and an observation deck out in the River with 5 boat slips issued by the U. S. Army Corps of Engineers (“USACOE”) has expired and an application to re-issue has been filed with a high degree of certainty it will be approved. Full site improvements should not exceed $1,400,000 based upon current engineering drawings. There are two existing single-family projects with 40-foot lots in the immediate area. Sunset Beach 3/4 mile to the north is completing the site development for 42 oceanfront lots that have yet to be offered for sale; at this time the owner has no plans to build and will eventually offer the lots for sale to individuals, creating a development similar to WaterSong 1/4 mile to the north which has 62 oceanfront lots and 39 interior lots. In 2018/2019 WaterSong had 12 lot resales ranging from $260,000 to $338,000, with 4 home sales ranging from $1,662,500 to $1,870,000. Diamond Sands 5 miles to the south has 75-foot lots and in 2018/2019 there were 3 lot resales from $739,000 to $780,000 with 2 finished homes selling for $3,600,000 and $3,900,000 respectively. Based upon the area east of A1A at a density of 5 units/acre that could allow 70+/- units, alternative residential uses could be considered for condominiums, townhomes, or cottages. A potential use that has been evaluated would be to replat into 25 lots with 40 feet of ocean front, making sure none of the environmental permits from the Florida Department of Environments Protection (“FDEP”) or U. S. Army Corps of Engineers (USACOE”) require changes. The concept would be to build individual beach cottages of about 2,250 square feet in an informal plan geared for weekend and holiday rather than a primary permanent residence. Initial pricing would start at $900,000, rapidly increasing as sales are made. The design would be informal with durability and easy maintenance as primary goals of a flexible floor plan that can accommodate up to 8 persons if a loft space is utilized. The structures would be on pilings with a 1st floor elevation of 15 to 16 feet as required by FDEP, allowing for parking underneath the structure as well as storage for surf boards, beach equipment etc. within a frangible partition structure. Properly executed it would be the only development of its type on the Atlantic Ocean from Miami to Cape Kennedy with easy access from Miami, Ft. Lauderdale, Orlando and even Tampa. The better condominiums on the island have been recently selling in the $500,000 to $750,000 range with sales at $400/SqFt. There has been no new construction since 1996, so any new product will be the “sole new source” in the area. At the maximum density of 70 units, not all units would have direct ocean front, making the design critical to maximize ocean views. Hotels and/or resorts are a conditional use as zoned but restricted to the same density as residences, limiting the site to 70+/- rooms or suites. The smaller floor plate would allow for added outdoor amenities and fewer parking constraints. At that location and density, it would have to be structured as a destination resort rather than a transient facility, offering multiple day packages. Overall there are 5 miles of protected beaches on the north end of Hutchinson Island, and 7 miles of protected river front. Due to the extreme lack of available ocean front developable sites within 100 miles, activity and demand on Hutchinson Island is expected to grow rapidly, especially for environmentally permitted sites that can be utilized without spending years to get the necessary entitlements at the Federal and State level. Current Buyers are far more environmentally aware than previous generations and are looking for locations that are less crowded and more environmentally friendly than the high-rise developments that dominate the areas further south, making this site highly desirable for any creative residential use. Offered by James P. Brown, Licensed Real Estate Broker. Mr. Brown has been directly involved in the immediate area since 1995 and was responsible for the initial permitting and site work at WaterSong. He was also responsible for the assembly and permitting of Hutchinson Sands, an approved and permitted 92-unit condominium project 1 mile north of this site as well as the acquisition and permitting of Anacostia a 10-lot oceanfront project with 100 foot lots located immediately north of the Hutchinson Sands development. Mr. Brown and his team can provide all the expertise needed to plan, approve, build, and market the proposed development, using long-term area contacts and experience with all the local agencies.