The Fort Pierce City Commission has taken a significant step towards revitalizing the long-stalled King’s Landing project. In a recent vote, commissioners approved a deal that could lead to construction starting within weeks. The developer Audubon Development may soon be out of the picture as INB Homes takes over the development of luxury villas on the former H.D. King Power Plant property. Additionally, updates on the hotel component of the project are expected to bring more positive news.

A New Developer Brings Hope for Immediate Construction

The Fort Pierce City Commission voted 4-1 to allow Audubon Development to sell a portion of the property designated for ten luxury villas to INB Homes. This sale, valued at $1 million, marks a crucial turning point for the project. INB Homes plans to develop these villas with an estimated combined value of $15 million. Commissioner Arnold Gaines was the sole dissenting vote, expressing skepticism about past promises. However, the majority of commissioners see this as a promising opportunity for the stalled project.

Jonathan Bell, Vice President of Acquisitions and Development at INB Homes, assured the commission that construction could begin as early as February. Bell emphasized that INB intends to meet or exceed the revised timelines agreed upon in August, which set a completion date for the villas by May 2026. To ensure accountability, INB Homes provided a performance bond, guaranteeing the city would receive approximately $15 million if the villas are not built. Bell also highlighted that INB has never defaulted on a performance bond, addressing concerns raised by Commissioner Michael Broderick, who works in corporate real estate. This move aims to restore public trust and excitement surrounding the project, which has been marred by delays and legal disputes.

Potential Residents and Commissioners Express Mixed Reactions

While the deal brings hope, it also stirs mixed reactions from potential residents and commissioners. Deborah Downs, an Indian River County resident who sued Audubon Development for failing to build her townhouse, now sees an opportunity to resolve her issues. Her attorney, Richard Neill, expressed optimism that the new arrangement could work in her favor. Meanwhile, other individuals who placed deposits will either receive their homes or refunds if the villas are not constructed. This development aims to address the frustrations of those who have waited years for progress.

Commissioners displayed varying levels of enthusiasm and caution. Curtis Johnson expressed confidence that the project would regain public trust once construction begins. However, James Taylor voiced concerns about the separation between the villa and main project developments. He warned that if the larger King’s Landing project with Harbert Realty Services fails, the villas might stand alone, overlooking an unfinished site. Despite these reservations, the commission approved the sale. Commissioner Arnold Gaines remained skeptical, emphasizing the need for tangible results before believing any promises. Separately, discussions with Marriott and Mainsail regarding the hotel component suggest further positive developments, potentially sealing the fate of Audubon’s involvement in the project.