Crystal Lagoon: Here's what we know about proposed Melbourne 'Lakoona Beach' complex
Melbourne Orlando International Airport officials view Lakoona Beach — a proposed 56-acre Crystal Lagoons apartment-retail aquatic resort complex — as a key economic development catalyst that would attract young professionals.
"I think this is an exceptional opportunity for us to do some things to really reinvigorate the NASA (Boulevard) corridor," airport executive director Greg Donovan told the Melbourne Airport Authority on Wednesday.
"We all know that there's more than 20,000 people that work at this airport (property) every day. They drive those roads every single day," Donovan said.
"Yet when you think about the amenities that are in place — a drugstore, a Hooters and a Publix — that's really about it," he said.
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Wednesday, the airport authority unanimously authorized the sale of 56 wooded airport-owned acres off the south side of NASA Boulevard for $8.93 million for development as a Crystal Lagoon-anchored attraction.
The developer, Adëlon Capital, showed board members a video touting the Lakoona Beach project.
"With the innovative and ecofriendly technology patented by Crystal Lagoons, this one-of-a-kind project will offer the unique experience of crystal-clear turquoise beaches, a family-friendly water play area, and entertainment experiences for all to enjoy," the video narrator said.
"The Lakoona Beach development will also provide hundreds of much-needed, multifamily Class A housing units near downtown Melbourne," the narrator said.
"There will also be ample space for retail, shopping, dining and more," the narrator said.
Lakoona Beach development remains in the early stages. The 56-acre land sale will also require approval by the Melbourne City Council and Federal Aviation Administration — and because the site is a former landfill, Adëlon Capital has a nine-month due-diligence period to perform environmental studies and see if the project is feasible.
Here's what we know about the Lakoona Beach proposal.
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What is a Crystal Lagoon?
Crystal Lagoons is a Miami-based international company that creates manmade treated-water lakes that are typically surrounded by beaches, housing and retail development.
Florida's first Crystal Lagoon opened in 2018 at Epperson, a master-planned community northeast of Tampa in Wesley Chapel.
Adëlon Capital founder and co-chairman Jonathan Cohen said the Melbourne lagoon would likely measure 5 acres to 7 acres. He said the project may create 2,600 direct and indirect jobs.
Cohen said Lakoona Beach would likely take two to four years to build, with construction occurring in stages. He said engineering design work has yet to take place, and he did not know when groundbreaking may begin.
"We will have a boardwalk with restaurants, retail. I would hope that many local restaurants and shop owners can also be part of the project," Cohen said after Wednesday's meeting.
Who is the developer?
Based in Hollywood, Adëlon Capital is building the airport's five-story, 143-room Hyatt Place hotel taking shape just west of the passenger terminal, along the perimeter fencing on Harry Sutton Road. Donovan said the hotel should open during the first quarter of 2023.
Next week, Adëlon Capital plans to open the 159-unit Parasol Melbourne 55-and-older apartment complex at Dairy Road and Palm Bay Road. The firm previously financed construction of the Hyatt Place and Home2 Suites by Hilton hotels in Palm Bay, near Bass Pro Shops Stick Marsh Outpost.
The developer and the Melbourne Regional Chamber have also proposed an 11-story apartment complex with retail and office space at the chamber's headquarters property on Strawbridge Avenue in downtown Melbourne.
Adëlon Capital has an exclusivity agreement to develop Crystal Lagoons in the Orlando metropolitan area. The company inked a subsequent agreement in December to develop Crystal Lagoons in Brevard.
What are the property details?
Donovan said Adëlon Capital would buy the 56 acres "as-is," pending the nine-month environmental review process.
The former landfill site is off the south side of NASA Boulevard, east of Broadband Drive, west of Woody Burke Drive, and north of Hibiscus Boulevard. Donovan said the Lakoona Beach layout would incorporate buffering for nearby L3Harris and Collins Aerospace facilities.
"This property, we’ve had pings over the years — there was a concept for a 3-par golf course years ago, and some other things. They've all kind of fizzled out. This property has never generated revenue for the airport," Donovan said.
In 2007, a development group proposed to build a nine-hole executive golf course across 34 acres of the former landfill site, along with an accompanying 110-room Hilton Homewood Suites.
The airport authority approved a 40-year-lease for the project, but it never left the drawing board.
"If it were not a landfill, I’m convinced it would have been developed years ago," Bill Potter, airport authority vice chair, said of the land.
The $8.93 million in sale proceeds will be earmarked for future investment in airport revenue-producing projects, not spent on operations and maintenance.
Creating jobs and attracting young professionals
Donovan said Lakoona Beach — along with the future Margaritaville Landing and Riverwalk on nearby U.S. 1 — would help airport tenants like Dassault Falcon Jet attract young professional employees.
Dassault Falcon plans to create 400 jobs at a future $115 million aviation maintenance facility on airport property off Apollo Boulevard. This secretive economic development plan was previously labeled "Project Vista."
Many Space Coast young professionals do not want to travel to Orlando because of traffic congestion and high gasoline prices, said Melbourne City Council Member Tim Thomas, who also serves on the airport authority.
"They want to stay here. They want to stay local in Melbourne and Brevard County. So to have a one-stop-shop type of entertainment-retail opportunity for them, it's a winner," Thomas said.
"And so, I think this is going to go over like gangbusters. And I think it's going to be something that people are going to be really excited about once they hear about it," he said.
Rick Neale is the South Brevard Watchdog Reporter at FLORIDA TODAY (for more of his stories, click here.) Contact Neale at 321-242-3638 or rneale@floridatoday.com. Twitter: @RickNeale1
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This article originally appeared on Florida Today: Crystal Lagoon: What we know about Melbourne Lakoona Beach proposal
