Vero Beach Airport Proposes $20.8M Terminal and Parking Expansion

Private developer plans new terminal building and 900 additional parking spaces to meet growing demand.

Apr. 1, 2026 at 9:05am

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A private developer, Diversified Realty Acquisitions, has proposed a $20.8 million expansion project for Vero Beach Regional Airport that includes building a new 20,000-square-foot terminal building and adding 900 parking spaces. The company wants to lease 17 acres from the city and purchase the existing 72,637-square-foot hangar complex to facilitate the upgrades, which they say are needed to meet increasing airline and passenger demand at the airport.

Why it matters

Vero Beach Regional Airport has seen growing traffic from three airlines - American Airlines, Breeze Airways, and JetBlue - but the current terminal and parking facilities are struggling to keep up. This proposed expansion aims to modernize the airport's infrastructure and position it to better serve the community's air travel needs while preserving the city's character.

The details

Diversified Realty Acquisitions' proposal includes replacing the existing terminal with a new 20,000-square-foot facility and adding 900 parking spaces. The company would lease about 17 acres from the city and purchase the existing 72,637-square-foot hangar complex to facilitate the project. The $20.8 million price tag would be financed by Diversified, with the city leasing the new terminal and keeping revenue from parking, concessions, and other fees to support the facility.

  • Diversified Realty Acquisitions submitted the unsolicited proposal to the city on February 1, 2026.
  • If approved, construction could begin as soon as September 2026, with the parking lot opening in January 2027 and the new terminal opening in July 2027.

The players

Diversified Realty Acquisitions

A private developer based in Deerfield Beach, Florida, that recently built an 80,000-square-foot hangar complex at Vero Beach Regional Airport and is planning to construct a 116-room TownePlace Suites by Marriott hotel on the airport property.

Cary Goldberg

The president of Diversified Realty Acquisitions and the author of the proposal letter to the city.

Vero Beach Regional Airport

A public airport owned and operated by the City of Vero Beach, Florida, that currently has daily flights from American Airlines, Breeze Airways, and JetBlue.

William Howard

The assistant airport director for Vero Beach Regional Airport.

Todd Scher

The airport director for Vero Beach Regional Airport.

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What they’re saying

“Airport demand has outpaced the existing facilities, and traditional funding sources such as FAA grants or local tax increases are unlikely to meet the airport's needs in a timely manner.”

— Cary Goldberg, President, Diversified Realty Acquisitions

“Without improved terminal infrastructure, airlines will not meet requirements and the airport will not be in position to negotiate future fees.”

— Cary Goldberg, President, Diversified Realty Acquisitions

“We're not in a position to sell those. The hangars were purchased with state grants, so they cannot be sold.”

— Todd Scher, Airport Director, Vero Beach Regional Airport

What’s next

The Vero Beach City Council and Airport Commission plan to hold a joint meeting to discuss the airport's future, including the proposed terminal and parking expansion project.

The takeaway

This proposed expansion highlights the growing demand and infrastructure needs at Vero Beach Regional Airport as it serves more airlines and passengers. The city must carefully weigh the benefits of modernizing the airport against the financial and logistical considerations, while ensuring the project aligns with the community's vision for the airport and preserves Vero Beach's character.