Development Viera
Viera Land Sale Paves Way for 275 New Apartments Near I-95 and Pineda
The Viera Company sold a vacant tract near I-95 and the Pineda Causeway for $9.14 million, with development rights for up to 275 apartments. The buyer is tied to Capstone Communities, a national multifamily developer.
Another piece of Viera's growth puzzle just fell into place. The Viera Company has sold a vacant tract near the northwest corner of Interstate 95 and the Pineda Causeway for about $9.14 million, according to Brevard County records cited by Florida Today.
The buyer, WTCC Brevard Owner LLC, shares an address with Capstone Communities, a Birmingham, Alabama-based developer behind student housing, multifamily, and mixed-use town centers across the country.
The land carries development rights for up to 275 multifamily units. The deed and The Viera Company's master plan designate the site for a future multifamily development, and the developers have 10 years to begin vertical construction. If they don't, the unused portion of the agreement reverts to The Viera Company.
The sale fits a bigger pattern along the Pineda corridor. A 63,000-square-foot shopping plaza anchored by Publix is in the works across from Costco, which filed permits this year to expand its parking lot. Several residential projects are also underway nearby, including the Atlin Cove and Aripeka single-family communities, the Almarea at Viera luxury rental community expected to open in early 2027, and Restore at Viera, a planned 55-plus active-adult community from David Weekley Homes.