The development cost of $195,652 per unit is about equal to the construction value of class A area hotels built recently or in the planning stage, construction industry estimators tell GlobeSt.com on condition of anonymity. The Waverly has a 394-car garage.

Locally based Zom is targeting tenants from Downtown's 60,000 office work force. The developer's research finds 40% of the Downtown workers earn at least $50,000 per year.

That's why average asking rents for a two-bedroom, two-bath unit are $1,739 per month. Comparable class A average area rents are $1,200 per month. Five penthouse units have rents ranging to $9,000 per month. The Waverly's average rent is $1,900 per month.