Developers are planning to break ground in August 2004, and the project is expected to be completed in the first quarter of 2006. Prodigy International Development Sales has been hired to sell the project, which will be similar to a condominium-hotel project. The reservation process for the units is starting now.

Rodrigo Niño, founder and president of Miami-based Prodigy International, tells GlobeSt.com that the project is attractive because it offers units less than $900,000 here, where typically units are priced higher. "With this price point, location and the quality of the project, we anticipate a swift sellout," Niño says in a statement.

The project will have one- and two-bedroom, fully furnished units priced between $300,000 and $850,000. Units will range in size from 500 sf to 1,300 sf. The two-bedroom units will include a lockout suite. Solé on the Ocean will also include a beach club and a signature restaurant, Niño says.