The city of Port Richey has taken one step closer to seeing the Vela at Cotee River Landing project come to life.
At the Sept. 22 City Council meeting, members approved the first reading of an ordinance that would permit the rezoning of 8.53 acres, allowing the construction of 240 multifamily units and 24,200 square feet of commercial floor area over the course of two phases.
The Ohio-based developer, the Kruger Group, acquired the land, located at 7944 Bayview St., in 2025. The proposed rezoning from Waterfront Commercial and General Commercial to Planned Unit Development (PUD) — which is required before construction can begin — includes waterfront property west of U.S. 19, south of Pasco Way, north of Cotee Avenue and east of Millers Bayou.
Tammy Vrana, who serves as the city planner for Port Richey, explained that the first phase would include the construction of 100 multifamily dwelling units, with preliminary designs showing a maximum of three stories or 40 feet high.
The second phase of the project would include building an additional 140 units at a maximum height of six stories or 85 feet, along with commercial space.
The project also calls for open space and recreation areas that include green spaces, a pond, boardwalk, pool, event lawn and public plazas, as well as more than 400 parking spaces.
“It would be the first major project within the area that would be a mixed-use development that would help implement the city’s long-envisioned vibrant waterfront district,” she said.
The project’s success could also stimulate reinvestment and expand the waterfront experience through public access and commercial activity, Vrana says.
“A successful project could breed future successful projects,” she said.
Earlier this month, the city’s Planning and Zoning Board held a public hearing on the project, in which factors such as building height, emergency access, traffic, public water access, and environmental impact were among the topics considered. The board recommended moving the project forward, placing the rezoning ordinance before the council.
Port Richey council members will hear the second reading of the ordinance at its Oct. 13 meeting.
Plans show the project as being slated for completion during the summer of 2027.