The City of Vero Beach has officially granted a second 30-day extension to the developers of the highly anticipated Three Corners Project, allowing more time to finalize a comprehensive Master Development Agreement. This extra window, which pushes the negotiation deadline into September, aims to ensure all details are carefully aligned for the transformative 38-acre mixed-use development at the western end of the 17th Street Bridge.
The City of Vero Beach has extended negotiations with development team Clear Blue, LLC for an additional 30 days to finalize the Master Development Agreement for a 38-acre waterfront dining, retail, and marina district on the Indian River Lagoon.
According to city officials, the current delay is largely attributed to the extensive administrative work required by city staff to thoroughly review and mark up the overarching legal contract, rather than any hesitation from the development team, Clear Blue, LLC. Clear Blue is a joint venture formed by Madison Marquette and Clearpath Services following the city’s latest competitive bidding process.
The timeline for this ambitious project has been tightly regulated by the local government. A letter of intent to negotiate was initially produced in late 2025. Following a good-faith deposit of $50,000 in March, a 120-day negotiation window was triggered. When that initial timeframe proved insufficient to hammer out the complex, long-term obligations between both parties, a first 30-day extension was granted. This was followed by the newly approved second extension on August 11, which coincided with the day city staff delivered their marked-up agreement to the developers.
City Manager Monte Falls explained to the city council that the developers simply needed adequate time to evaluate and respond to the city’s latest contractual revisions. While the extension was approved, some local leaders are expressing a desire to see tangible progress. Council member Linda Moore noted that while she supported this specific extension to get the details right, she is wary of further delays. Moore emphasized a strong commitment to delivering the vibrant, community-approved vision that residents voted for.
To avoid the real estate pitfalls seen in neighboring municipalities, city leadership is taking a highly cautious and structured approach. Mayor John Cotugno emphasized that keeping a tight, 30-day window on renewals ensures ongoing communication and strict transparency.
- Maintaining Project Integrity: Officials are actively working to prevent scenarios similar to the stalled King’s Landing development in Fort Pierce, where shifting developer dynamics led to halted construction and requests for additional municipal funding.
- Honoring the Vision: The city intends to strictly adhere to the original master plan, initially crafted alongside noted urban planner Andres Duany, which received a standing ovation from the community during public charrettes.
The Three Corners Project is slated to dramatically revitalize the western shore of the Indian River Lagoon. Under the proposed terms, the city will lease the historic property—formerly home to the Big Blue power plant and the current city sewer plant—to Clear Blue for 99 years.
In exchange, the developer will construct a nautical, Florida-themed waterfront district. The finished site will offer residents and visitors a wealth of new features:
- A waterfront hotel and modern marina.
- Diverse dining, restaurant, and retail establishments.
- Abundant public amenities and open recreational spaces.
Negotiators representing Vero Beach and Clear Blue continue to meet weekly to hash out the final details. Once the Master Development Agreement receives official council approval before the September deadline, the team will finally pivot toward the construction design and permitting phase, bringing Vero Beach’s long-awaited waterfront renaissance one step closer to reality.
