A private developer has submitted an unsolicited proposal to build a new terminal and expand parking at Vero Beach Regional Airport. Diversified Realty Acquisitions, based in Deerfield Beach, proposed spending approximately $20.8 million on the project, which would include a 20,000-square-foot passenger terminal and 900 parking spaces.
Vero Beach Airport Terminal and Parking Proposal Details
Under the proposal, Diversified Realty Acquisitions would lease about 17 acres at the airport from the city and purchase the city’s 72,637-square-foot hangar complex. The company would replace the existing passenger terminal, which the proposal describes as cramped, with the new 20,000-square-foot facility.
Diversified recently built an 80,000-square-foot hangar complex at the airport and is anticipating beginning construction of a 116-room TownePlace Suites by Marriott hotel at the airport.
The Vero Beach airport currently has daily flights from three airlines: American Airlines, Breeze Airways, and JetBlue flights.
Airport Parking Concerns at Vero Beach
With more airlines and more passengers, long-term parking at the airport has been an increasing concern. The Vero Beach City Council has expressed interest in having an outside company implement and operate a paid-parking system at Vero Beach Regional Airport.
Vero Beach-based Envision Parking Partners and Gainesville-based SafeParc have jointly pitched a plan to invest $5 million to create a paid parking system. That potential lease is currently under consideration by city staff.
How the Proposed Lease Would Work
Under the proposal, the city would lease the terminal once built and keep all revenue generated by the terminal. That revenue would include parking, concessions, fees, advertising, and ongoing ground lease payments to create a funding stream to support the facility.
The agreement would include an option for the city eventually to purchase the terminal from Diversified. Construction could begin in September, with a parking lot opening in January and the new terminal opening in July 2027, according to the proposal.
The City Council has taken no action on the proposal.
Hangar Sale and Terminal Expansion Considerations
One issue with the proposal involves the concept of the city selling the hangars it currently owns and operates. The hangars were purchased with state grants, so they cannot be sold.
City officials have been discussing expansion of the current terminal. A joint meeting between the City Council and Airport Commission is being sought to discuss the airport’s future, including what to do with the terminal building.
Potential terminal changes under discussion include adding onto the front of the building, creating a larger check-in area, and possibly adding a Transportation Security Administration lane.
Rental Car Facility Plans
A private developer is currently leasing airport property with plans to build a consolidated rental car facility. The long-term goal is to move the rental car desk out of the terminal and into the new facility, which would free up short-term parking now used for rentals.
In the short term, the rental car desk is expected to move to a new location inside the terminal when current airport renovations are completed, freeing up space in the lobby.
Frequently Asked Questions About Vero Beach Airport Terminal Expansion
How much would the new Vero Beach airport terminal cost?
The proposal from Diversified Realty Acquisitions would cost about $20.8 million. The project would include a 20,000-square-foot passenger terminal and 900 parking spaces.
What airlines fly out of Vero Beach Regional Airport?
The airport currently has daily flights from three airlines: American Airlines service to Charlotte, Breeze Airways, and JetBlue.
When could the new Vero Beach airport terminal open?
According to the proposal, construction could begin in September, with a parking lot opening in January and the new terminal opening in July 2027.
How many parking spaces would the Vero Beach airport expansion add?
The proposal includes 900 parking spaces as part of the new terminal and parking expansion project.
Has the Vero Beach City Council approved the airport terminal proposal?
The City Council has taken no action on the proposal. The proposal from Diversified Realty Acquisitions is described as an unsolicited plan submitted to the city.
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