$500 Million Three Corners Vero Beach Project Progressing

The Three Corners Vero Beach project is progressing forward, bringing excitement and anticipation to the Vero Beach, Florida, community. For years, the City has strategically considered how it might transform a portion of 30 acres of land known as Three Corners. Vero Beach officials and residents are thrilled about the potential for a new waterfront project that could transform the town and increase the affluence of Vero Beach, Florida. Below is more information about how the $500 Million Three Corners Vero Beach project is progressing.

three corners vero beach waterfront

A Timeline of the Three Corners Project

The Three Corners project has been in the works for several years. The project officially began on November 19, 2019, when the City Council viewed a presentation for the proposed project and then formed the Three Corners Steering Committee to help guide the planning process. The City contacted the community to understand what locals desired for the area. The City even created a website called Speak Up Vero Beach to allow residents to submit ideas for the project and have a voice in the creative development of the public waterfront property.

In August 2023, the City requested proposals for ideas on what they could make of the parcel of land, and by February 1, 2024, several proposals were in the running. Four firms drew the attention of city officials – the firms included Clearpath, Edgewater Group, Suda, and Vista Blue Vero Beach Resort & Spa.

proposed layout of three corners vero beach

The City isn’t working alone to review the proposals. A financial advisory firm, PFM Financial Advisors, provides the City with insight into each proposal’s financial plans and capacity. A second firm, Colliers International, is helping Vero Beach officials determine each proposal’s marketability. The selection committee will also interview each firm and ask questions about the proposals before making a final decision.

The next step in the process is for the City to choose a clear winner, which will determine what the space will become and how it will look. The committee that reviews the proposals will hold a public meeting on May 17th to discuss the proposals and announce which design they plan to recommend to the City Council. The City Council will then hold a public meeting at the end of May to discuss the committee’s choice and get thoughts and input from residents.

three corners vero beach rendering

The Three Corners Vero Beach Project and Big Blue

At the heart of the development is Vero Beach’s old power plant, Big Blue, which was built in the 1960s but is currently out of commission. It’s situated on the largest part of the land, and its fate is in the hands of local officials. Although Big Blue hasn’t produced power in over a decade, it could be the key to powering more growth in the Vero Beach and Treasure Coast region. The leading proposal will turn Big Blue into a luxurious hotel with rooms averaging almost $600 a night. Big Blue is large enough to transform into a hotel, conference, co-working space, and great hall that could host concerts and other shows.

Vero Beach Excitement about Three Corners Project

When the City put forth a referendum for locals to vote on the commercial development of waterfront land, the voters quickly embraced the project. Nearly 80 percent of Vero Beach voted to transform Big Blue. The voters also placed a few restrictions on the development which including the following:

  • The developer cannot build over the 50-foot limit
  • No condos or townhomes will be developed on the parcel
  • Beach clubs associated with the on-site hotel are restricted

The restrictions ensure developers create something designed with locals in mind. The development will be for the people. The project is also expected to create many new employment opportunities, adding significantly to Vero Beach’s affluence. Vero Beach’s Mayor, John Cotugno, has worked diligently to boost business and tourism in the City. He said he wants to take the city “to the next level.”

aerial rendering of three corners vero beach

Where is the Three Corners Vero Beach Project Located?

The project will be located at Indian River Boulevard and 17th St. The area is at the base of the Alma Lee Loy bridge. The land is incredibly valuable and considered prime real estate.

The Three Corners land is special because it’s the most valuable publicly owned waterfront property on the East Coast of Florida. To help develop a master plan concept for the site, the City selected DPZ CoDesign, a renowned architecture and design firm. The firm is also responsible for conducting community engagement.

Will Clearpath Win the Three Corners Vero Beach Project?

Of the four proposals, Vero Beach officials were blown away by Indiana-based firm Clearpath. Clearpath immediately became a frontrunner because of its beautiful and modern design. Committee members also loved that Clearpath emphasized cultural activities for residents. The firm is proposing a $504 million project.

The proposal from Clearpath would use sixteen acres on the northern section of the property to create a waterfront village with shops, bars, restaurants, cafés, and rooftop terraces. There would also be a park. The committee responsible for choosing the top proposal for the project expects the development to be a unique and special place. They want a space for local residents that has a “wow factor.”

three corners vero beach plans

How Will the Three Corners Project Affect Traffic?

Vero Beach is working with an engineering firm to conduct traffic analysis and determine what needs to be done to keep the area from becoming congested. The new development is bound to increase traffic in the area, so the City is working to minimize the effects. The Florida Department of Transportation will work with engineers to create solutions.

Additionally, each proposal will answer questions about parking for visitors to Three Corners. The expectation is that there will be plenty of parking for locals and tourists to enjoy the new world-class facility.

The Three Corners Project Aims to Increase Tourism

Vero Beach wants to turn Three Corners’ vacant land into a unique destination with restaurants, commercial space, cultural activities, and a recreational marina, all within a park-like setting. The City has an incredible vision for what the land could become; they just have to choose the right proposal to bring that vision to reality.

Three Corners has the potential to transform into a world-class facility. The new project will increase Vero Beach’s national visibility, leading to new opportunities and more growth. Once the project is complete, the Treasure Coast will have another incredible recreational and social hub for locals to dine, shop, and have fun.

The waterfront property has the potential to offer a new amazing space for residents, attract more people to the area, and increase the population while simultaneously generating a massive new revenue stream for the City. The City has stated that it expects the development to transform the local economy and provide a “sense of place” to residents and visitors.

Image Credit: All images are from the City of Vero Beach Master Concept document.

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