Prospect Real Estate Development to Build $32M Advantis on Harbor Apartment Complex in Palm Bay

Construction is expected to begin in May 2022 and take approximately 20 months

Prospect Real Estate Development Group announces a $32 million deal to build a 171-unit apartment complex on Dixie Highway in Palm Bay.

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 one minute from the beach with easy access to downtown Melbourne,” said Richard G. Zahn, Sr., president of Prospect Real Estate Development Group, which has over $2 billion in commercial, multi-family and single-family projects completed or underway nationwide.

“The long list of amenities will make this building a coveted home for the thriving community of Palm Bay.”

The 171-unit project will include 69 one-bedroom, 90 two-bedroom and 12 three-bedroom units, and will offer many amenities, including a fitness center with state-of-the-art equipment, a yoga room and spin room, business center with lounge and private work booths, parcel-waiting room, community lounge with game room and kitchen, resort-style pool with outdoor kitchens and lounging areas, recreation area, dog park, and carport and parking garages.

Construction is expected to begin in early May 2022 and take approximately 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 company owned by Richard G. Zahn, Sr., President of Prospect, and his wife Michele Zahn, President and Chief Executive Officer.

Prospect has 25 years of experience acquiring, building, and developing affordable, labor-saving, and luxury multi-family housing and mixed-use real estate in the United States.

Prospect owns and operates various companies, including Advantis Development, a full-service real estate development company specializing in multi-family assets.

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Sara H. Byrd