Intercity rail service Brightline sold a tract of land near the Space Coast Regional Airport in Titusville for $6.5 million to Kissimmee-based JTD Land Co. on Oct. 29, county records show.

The sale follows Brightline’s 2023 acquisition of the over 107 acres—currently zoned for industrial use near Grissom Parkway—for $38 million, an initial investment that was intended to help guide development near the rail corridor.

Discounted Sale Unloads Titusville Property
The recent transaction, which involves an undisclosed portion of the land, represents a steep discount from the original 2023 purchase price if the entire property was sold. The buyer, JTD Land Co., is tied to Jr. Davis Construction and typically engages in land deals for residential development.

JTD Land Co. also acquired an additional 64.86 acres of industrial-zoned land nearby from Flagler Development Co. LLC for $350,000 on the same day. Flagler Development Co. shares an address and executive with Brightline.

Brad Parker, a land expert, previously noted to Orlando Business Journal that Brightline’s initial land purchase was a strategic move to manage future development, even without a formal Titusville station announcement. Past reports on TalkOfTitusville.com highlighted the unlikelihood of a local station given the company’s focus elsewhere in the county.

Cocoa Station Delayed Amid Grant Redo
While Brightline sheds property in Titusville, its efforts to establish a Brevard County station in Cocoa continue, albeit with a fresh challenge for securing federal funding. The proposed station site is near the “Cocoa Curve” at U.S. Route 1 and State Road 528.

Local funding for the station has already been committed: the Space Coast Transportation Planning Organization secured $15.5 million in federal grants, the City of Cocoa committed $5 million, and the Brevard County Tourist Development Council approved another $5 million in tourist tax dollars. Brightline has committed to building the station once a robust financial plan is in place, and service is tentatively planned to begin by 2029.

However, the Federal Railroad Administration (FRA) denied a critical $47.46 million grant application in late 2024. The total project cost is estimated at over $80 million.

The city and its partners are not deterred and are preparing to reapply for a different federal grant program—the $47.21 million Federal-State Partnership for Intercity Passenger Rail (FSP) grant—with a new application deadline of Jan. 7, 2026.

Financial Pressure and Expansion Plans
The land sale occurs as Brightline faces financial scrutiny. Despite year-to-date ridership growth to 2.28 million through September—up from 2.04 million last year—Fitch Ratings downgraded a $2.22 billion senior bond in July. The agency cited uncertainty that increased capacity would translate into the sustainable revenue needed for consistent breakeven operations.

Brightline has acknowledged the concerns and is seeking new capital investments to manage debt and boost liquidity. Meanwhile, the company is advancing other major expansion efforts, including a shared Sunshine Corridor route to Tampa with the Orlando commuter rail SunRail.