PALM BAY, Fla. —  You've heard the phrase "city by the bay." That's exactly what Brevard County's largest city is trying to achieve.

​Palm Bay's next step to become a waterfront destination starts with Pelican Harbor Marina on U.S. 1, south of Palm Bay Road.

The city just sold the land to Space Coast Marinas for $1.9 million. The developer plans to invest $10-12 million to build a dry dock boat storage and service facility as well as a ship store, tiki bar, outdoor entertainment venue, a restaurant and shops.

The existing marina slips will be overhauled and a public boardwalk will line the waterfront.

It's a boon and relief for Dan Smith, who owns Paddling Paradise which is based at the marina.

"I can't picture a place within a hundred miles that's going to be as good as this is," Smith said. "This is going to be a destination."

Smith has been renting from the city month-to-month for three years. And the property has been on the market for a decade.

Soon business will boom with the surrounding new development that's creating 300-plus jobs.

"We're going to be able to bring new employees in, the new businesses are doing to do great attached to this," Smith said.

The area of U.S. 1 already sees more than 22,000 vehicles pass through daily.

And paddleboarders like Caiclyn Goodpasture, her daughter Rayln and friend Celeste Perry plan to return when the new marina is up and running.

"That would be neat to have everything in one area," Goodpasture said.

"Great location, all the shops, I think it's going to be great for tourists," Perry added.

The marina project is now part of the Bayfront Community Redevelopment Agency's vision for a Bayfront Village, which will serve as a waterfront center center for Palm Bay.

Groundbreaking is expected in early 2022.