Calumet Farm-INCOME PRODUCING LAND

• Income-Producing Land Opportunity! A current geological study shows approximately $180,000,000+ potentially extractible coquina rock. This would consist of approximately $26,878,110.00 of overburden or general construction fill and $156,331,900.00 of actual mineable coquina.
• Property is 2,123 ± acres with over a mile of frontage on Babcock Street (5,800 ± feet) / RE Tax: $4,170

The subject property is located on the West side of Babcock Street south of Micco Road, 2.5 miles south of the proposed Sty. Johns Heritage Parkway Bay and on the north side of Centerlane Road in Palm Bay, Brevard County, Florida. Site is 2 miles north of C54 Canal, the Indian River County line. Babcock Street (SR 507) is a major north/south artery that runs from US 1 in North Melbourne south to Fellsmere in Indian River County. Babcock Street in the Melbourne/Palm Bay area is a major commercial corridor with many major shopping centers, retailers, restaurants, banks, and office/medical buildings destined to expand south.

PROPERTY HIGHLIGHTS

• Income-Producing Land Opportunity! A current geological study shows approximately $180,000,000+ of extractible coquina rock.
• Master Planned for mixed-use - 30% open space - 19 acres civic/public space / wildlife corridors, large storm-water retention/detention areas in a park-like setting
• Land Use is 'CALUMET FARMS', a designated land in the City of Palm Bay (Comprehensive Plan via Ord. No. 2010-68) Mixed Use Development.
• Project density: 1.5 units per acre / cap of 3,184 living units / Commercial and office use limited to 180,000 sf
• Property included in the urban service boundary of Palm Bay for future utilities. No active water or sewer at this time.
• Due to the St Johns Heritage Parkway being slated for completion by November 2019 and new I95 SJHP Interchange recently completed, this area is slated for high growth in the immediate future. This development will provide neighborhood and community commercial uses nearer the
• population centers of the City that are moving toward the future interchange. Sustainable development patterns, creation of village like projects, clustered developments, and
• extensive open space characterize the form of the development proposed.
• Of the eastern section of the parcel, consisting of 376 acres, the property is currently under construction as a coquina mine, to be reclaimed for development upon completion. The mining will be executed in three phases.
• Phase I will begin with the 80 acres on the southeast corner of the parcel. Of this, approximately 50 acres is currently being excavated for a manmade lake.
• Phase II will also include a 50-acre lake on the northeast
• corner.
• Phase III consists of the center section on the east side of the property. Phase 3 will also contain the third 50-acre lake.
• This construction project will leave 226 acres of uplands on the eastern portion.
• The Western side of the parcel consists of approximately 900 acres, which has $22,500,000.00 in mitigation credits.