Three parcels in Turtle Cove totaling 3.29 acres with 116 feet of beach frontage and 223 feet of canal frontage makeup Grace Bay Beach Ocean Villas, which is presently a profitable short-term villa rental business. In 2018, the vacant oceanfront property was approved for rezoning to Tourist Related (T01), allowing for the potential development of six residential properties on the 0.952 acres. Five villa buildings total are currently located on the other two Residential (R01) canal front properties.