The city of Port Richey has moved forward with the Vela at Cotee River Landing project after approving the first reading of a rezoning ordinance. The Kruger Group, an Ohio-based developer, acquired the 8.53-acre site in 2025 and plans to construct 240 multifamily units across two phases. The first phase will include 100 dwelling units with a maximum height of three stories, while the second phase will add 140 more units reaching up to six stories. The development also incorporates commercial space, open green areas, a pond, boardwalk, pool, and over 400 parking spaces. City planner Tammy Vrana described the project as a mixed-use development that could create a vibrant waterfront district and stimulate reinvestment in the area.
Key Points:
- The Kruger Group acquired the 8.53-acre site at 7944 Bayview St. in 2025 for the Vela project.
- Port Richey City Council approved the first reading of an ordinance permitting rezoning on September 22.
- The development will include 240 multifamily units and 24,200 square feet of commercial floor area over two phases.
- Plans show the project is slated for completion during the summer of 2027.
