The unnamed complex is tentatively scheduled to have a 400-room hotel, 60,000-sf of retail, 20,000 sf of meeting and conference space and a 10-acre water park. The hotel brand hasn't yet been determined. The project is expected to create 600 full-time jobs, according to the Space Coast Office of Tourism. The development site is 70 miles southeast of Downtown Orlando.

The hotel will be designed in the shape of upright surf boards, according to a representative in the office of Ed Moriarty, president of Ron Jon Surf Shop. The company is considered the oldest water surfing-oriented retailer in Florida, according to GlobeSt.com research.

Port Canaveral officials are also negotiating with Switzerland-based Vitol S.A., an international oil and gas trading company, to build a 30-acre fuel farm at the port. The facility would be designed to store three million barrels of fuel, according to port officials. Tentative plans tied in with the fuel farm are for a 50-mile underground fuel-carrying pipeline that would run from the port to Orlando International Airport.