Dix Development Secures Final Parcel for $2.5 Billion Project

The final piece of Dix Development’s megaproject land puzzle has clicked into place.

The Orlando-based firm closed the final parcel needed to move forward with Ashton Park, its $2.5 billion mixed-use project in Palm Bay, clearing the way for approvals and permitting later this year, the Orlando Business Journal reported.

Dix acquired the final 133 acres for $10 million, completing a three-phase land assembly totaling 1,568 acres along Micco Road.

Previous purchases included 302 acres for $15.6 million in December and 1,134 acres for $74 million in March.

The latest parcel will serve as the site of Ashton Park Town Center, the core of the development’s commercial offering, with plans for retail, dining, entertainment and civic amenities.

CEO James Dicks called the project the culmination of years of planning and land assembly. No start date has been announced but Dicks said the company expects to receive all construction approvals by August and permits by the end of the year.

At full buildout, Ashton Park will include 3,815 single-family homes, 961 townhomes, 1,037 apartments and 1 million square feet of commercial space, making it one of the largest master-planned communities in Central Florida.

The project sits just southeast of Emerald Lakes, a $1 billion, 1,600-acre development from Zons Development and Blake Investment Partners.

Palm Bay officials say the region continues to attract “unprecedented development interest,” and the city has been fielding multiple pre-application meetings for projects. The Space Coast Association of Realtors reported a rise in home inventory earlier this year and a slight year-over-year dip in closed sales.

Planning and engineering for Ashton Park is being led by Construction Engineering Group, with architecture and design for the town center handled by Charlan Brock & Associates.

— Judah Duke