The subject property is located within the Economic Overlay District of Cape Canaveral. The subject has been approved for 288 unit Assisted Living Facility including 21 double occupancy by the City of Cape Canaveral. It is also approved for 335 multi family units with a maximum building height of 65 feet. Preferred zoning could allow for greater density as negotiated with the City of Cape Canaveral; whom appears open to that possibility.The subject property, more specifically, is located next to the only remaining undeveloped area of Cape Canaveral, and adjacent to the Banana River.The surrounding area is an older well established community with residential lots to the south, along with hotels and other commercial and multi-family developments.Storm water retention in place.