Ocoee-based company is bringing high-end construction to Indialantic

INDIALANTIC — Developer Harry Mirpuri has set up a new headquarters in Indialantic, where he’s spearheading nearly $50 million in commercial, hotel and housing projects within 2.5 miles of downtown Eau Gallie.

He is securing Melbourne City Hall approvals to build Hidden Harbor Estates, a future 11-acre gated community off Eau Gallie Boulevard between Apollo Boulevard and the railroad bridge. Plans call for 25 townhomes, nine waterfront single-family homes along the Eau Gallie River, and 20,000 square feet of office-professional space. Within five years, he hopes to finish Hidden Harbor Estates and his other, higher-profile venture: redevelopment of the the old Intracoastal Marina-Coral Bay Restaurant property on U.S. 1.

That’s where he plans to build a seven-story resort hotel — or condominium tower — atop two or three parking levels alongside three restaurants and an 81-slip marina.

“We really want to make this a real destination within the marketplace, knowing there’s a demand for it,” Mirpuri said. “We want it to thrive. We want it to have a sense of vibrancy as well.”

His company, River Walk Marina Partners, LLC, bought the Intracoastal Marina site from the city of Melbourne for $2 million on June 29.

Mirpuri plans to spend the next 90 to 180 days wrapping up restaurant lease negotiations.

What’s more, a market feasibility study will determine which hotel brand would fit best — or whether a condominium building should be constructed instead.

The Space Coast is in the midst of a hotel-building boom.

Mirpuri noted the planned $33 million, 156-room hotel Tapestry Collection by Hilton hotel that may rise 11 stories above the heart of downtown Melbourne.

A decision on whether to build a hotel or condominiums should be settled within 30 to 90 days, he said.

Design work and engineering will begin afterward. He said 2019 looks like “a year of planning and approvals” from the city of Melbourne, Florida Department of Environmental Protection, Florida Department of Transportation and other agencies.

The restaurants would be built first — potentially opening in 2020 — followed by the marina, then the hotel/condominium building.

Early construction cost projections clock in at $21 million to $25 million for the hotel/condominiums, $6 million for a 250-seat restaurant, $950,000 for each smaller eatery, and $1.5 million for the marina. Combined, Mirpuri estimates these businesses may employ 38 to 59 full-time workers and 132 to 172 part-time employees.

Plans call for a small amphitheater immediately south of the large restaurant for concerts and events.

He said he couldn’t disclose which restaurants may come to Riverwalk Marina, but he described Bahama Breeze, Starbucks and Chipotle as “ideal tenants.”

“It’ll be the jewel of the county,” said Mike Grayson, an associate with RE/MAX Alternative Realty who is working with Mirpuri.

Mirpuri and his brother, Girish, own Mirpuri Group USA.

The Ocoee firm owns and operates Pandora jewelry stores across Florida. Harry Mirpuri owns a multi-million-dollar home on Brevard County’s barrier island a few miles north of Sebastian Inlet, and he has primary residences in Orlando and Miami.

“We’re still in the retail industry. We decided to continue on the commercial path of development back in 2007,” he said. “We’ve since seen the Florida market go through its wave of growth and decline, but we’ve persevered — because everything we do, we do from free cash flow.”

Last October, Mirpuri bought a 1,469-square-foot commercial building next door to Indialantic Town Hall on Fifth Avenue for $389,000, property records show.

This yellow single-story structure now serves as headquarters for Riverwalk Marina Partners, LLC and Hidden Harbor Estates.

Mirpuri plans to build a second story of office space atop the Indialantic building, then bring in a restaurant to occupy the ground level.