Spinnaker Cove – Development Summary
Pensacola, FL | Across from NAS Pensacola | Waterfront Property
Project Overview
Spinnaker Cove is a master-planned, gated waterfront community in Pensacola, Florida, positioned directly across from the Naval Air Station. The project spans just over 7 acres, with an additional 3.8 acres under potential acquisition, bringing the total footprint to nearly 11 acres of waterfront real estate. The site includes 18 cleated boat slips, walkable mixed-use potential, and direct access to Bayou Grande and Pensacola Bay.
This area is set to become a key part of Pensacola’s next wave of development, with active support from local commissioners aiming to revitalize Navy Blvd and surrounding corridors. The site offers residential, hospitality, and commercial opportunities in a growing, high-visibility location.
Key Features & Components
- 7+ acres acquired, with potential for 3.8 acres more
- 18+ boat slips, water access to Bayou Grande & Pensacola Bay
- Located directly across from NAS Pensacola — views of Blue Angels airshows
- Ann’s Bayou acquired (man-made) with deed correction underway
- Planned walking trail around Ann’s Bayou for recreation & nature access
- White Island nearby – currently undergoing sand replenishment
- Development Components
- Private Gated Community: 18 cleated Waterfront/Waterview lots ready for development
- Townhomes: Inside and outside gates (1.63-acre parcel zoned MDR — conditional use)
- Luxury Condos: Zoned parcels allow up to 25 units/acre
- Hotel Site: Optional hospitality component within project area
- Retail & Dining: Ground-floor shops and rooftop restaurant potential
- Coffee Shop & Co-Working Space: For residents and public
- Grocery Anchor Opportunity: Mid-sized parcel could support a market
- Recreational Access: Kayaking, nature walks, and scenic waterfront views
Zoning & Parcel Overview
Location - Size - Zoning - Notes
Inside Spinnaker Cove - 0.7 acres - Residential - 18 vacant waterfront/waterview lots
Outside Gates - 1.63 acres - MDR - Townhomes (conditional use)
Interbay & Navy Blvd - 1.26 acres - Commercial (25 units/acre) - Ideal for condos, rooftop retail, or mixed-use
Interbay & Palomar Corner - 1.1 acres - HDR - Wooded, trail potential, connects to Ann’s Bayou
Strategic Advantages
Located at the heart of a revitalization corridor (Navy Blvd improvements underway)
High-demand waterfront near military, beach, and boating access
Flexible zoning mix for phased development or multiple investor profiles
Strong public/private alignment with ongoing local investment
Realistically just based on the zoning and what is being offered you have 63 units that are ready to be built and if you give them an average evaluation of $550k a piece you’re looking at a $35m dollar project.
