PALM BAY, Fla. — A new $30 million business park is sprouting in Palm Bay — a soon-to-be home to hotels and retail space.

  • 2 hotels under construction in new business park
  • Topping off ceremony held for hotel
  • Overall project to be completed early 2020
  • More Brevard County headlines

The new business park could mean money and jobs for Central Florida's second largest city of 100,000 people.

For decades leaders have struggled with the lack of hotel rooms to put heads in beds and meeting space for conferences.

"This is what Palm Bay can now offer not only to it's residents, but also to people coming it visiting," said Palm Bay Mayor William Capote.

It's changing with a 70,000-square-foot hotel and retail space situation off I-95 and Palm Bay Road.

Since Bass Pro Shops came in several years ago, the city has been targeting the 10-acre parcel for development.

Now two hotels, Hyatt Place and Home2Suites, are under construction.

In all, 350 direct and indirect jobs are being created, plus nearly 200 hotel rooms are on the way.

"We feel there aren't enough hotel rooms for the demand," says AD1 Global Hospitality developer Daniel Berman.

"We see the growth here, we see the expansion of businesses," he continued.

AD1 Global Hospitality already owns a hotel in the bustling Viera area just up the interstate. They see this corridor as a hotspot for retail shops, bars and restaurants.

"When you work with a city that is professional, it's easy to develop," adds Berman.

Leaders held a topping off ceremony, symbolizing the last steel beam being put on one of the new hotels.

The mayor promises this isn't the last of the growth in Palm Bay.

"You stay in the city limits, the money stays in Palm Bay," said Mayor Capote.

The project is expected to wrap up by early 2020.

Developers are still looking for tenants for the new retail and restaurant space.