Babcock Street Residential-Future Commercial

The subject is located in the Town of Grant-Valkaria. The Grant-Valkaria community is in the southern part of Brevard County, approximately 13 miles south of Melbourne and 20 miles north of Vero Beach. The Towns of Grant and Valkaria were separate communities until July 25, 2006, when they were joined into a single incorporated town. Grant-Valkaria is about an hour's due east of Disney World. The town is located with the Palm Bay - Melbourne - Titusville metropolitan statistical area. The subject is situated on the east side og Babcock Street and is just east of the City of Palm Bay and approximately five miles west of U.S. 1 and the Indian River.

The subject is delineated as a low-density, mixed-use area within the Grant-Valkaria city limits. Malabar Road borders the neighborhood on the north, Micco Road on the south, U.S.1. on the east, and Babcock tot the west. The described area is comprised of Malabar, Grant-Valkaria, Palm Bay, and unincorporated Brevard County encompassing - 48 square miles.

The subject's immediate neighborhood is primarily residential in nature, with a few scattered commercial uses located along US One and Babcock Street to the north. The uses are primarily service commercial in nature and support the surrounding residential base.

Babcock Street narrows to two lanes south of Malabar Road. Fronting properties have limited retail, and commercial development, with anchored and non-anchored neighborhood shopping centers, free-standing retail stores, medical and professional offices, restaurants, and other similar commercial uses. The density south of the Interstate 95 overpass is even lower, with only a few scattered commercial uses noted. Commercial development in the neighborhood's central and northern sections consists of industrial and retail uses, small restaurants/lounges, several boat repair/sales facilities, and convenience stores. There is very limited commercial use in the subject's immediate area.

The I-95 interchange near the southern end of the planned St. john Heritage Parkway has recently completed construction. Development is underway for a large-scale mixed-used community named "Emerald Lakes" on the lands surrounding the new interchange and parkway route.

Account: 2952052
Legal Description: FLA INDIAN RIVER LAND CO SUBD PER PB 1 PG 165A W 230 FT N 1/4 OF LT 25 PB 1 PG 165A EXC N 50 FT & W 50 FT AS DESC IN ORB 2206 PG 501 (A/K/A TRACT A-21) ALL BEING MEASURED FROM SECTION AND HALF SECTION LINES
Account: 2952053
Legal Description: FLA INDIAN RIVER LAND CO SUBD PER PB 1 PG 165A N 1/4 OF LT OF PB 1 PG 165A EXC E 230 FT, W 230 FT & N 50 FT AS DESC IN ORB 2206 PG 503 (A/K/A TRACT A-20) ALL BEING MEASURED FROM HALF SECTION LINES

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