The building, at an estimated 350 ft in height, would be the tallest residential structure in Central Florida and the second tallest building Downtown, next to the 442-ft, 35-story SunTrust Center office site, area brokers familiar with both projects tell GlobeSt.com.
Local construction industry estimators tell GlobeSt.com the undertaking will probably be built at a total hard cost of $75 million. They base their estimate on a $200,000-per-unit hard cost for the condo units alone. At that cost, the Vue will be one of the most expensive condo communities built to date in the metro area, local planners who have worked on comparable ventures tell GlobeSt.com.
About 3,000 new condo units have been built or planned Downtown over the last five years alone, according to city planning department estimates. Five other condo projects are under construction within a mile of the Vue venture.
The developers plan to kick off their marketing campaign in May. Starting prices are expected to be under $200,000, considered by local realtor estate agents to be competitive with other planned condo projects, especially since the Vue will be facing scenic Lake Eola, the centerpiece of Downtown social and recreational activities.
The 1.74-acre site is on the southwest corner of the Rosalind Avenue and Robinson Street intersection, across the street from the 13-story, 200,000-sf Eola Park Center office building.
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