UPDATE: Zom Starts $140M Paramount on Lake Eola

ORLANDO-Zom Inc., a national mixed-use developer based in Orlando, broke ground April 27 on its 10th major mixed-use project–the $140-million, 16-story Paramount on Lake Eola . The structure will house 313 condo homes, 35,000 sf of retail, 10,000 sf of offices and a 15,000-sf pool deck at 400 E. Central Blvd. Downtown. The retail includes a 30,000-sf Publix store.

Zom CEO Steve Patterson estimates the project will take 26 months to complete and is targeting a mid-2008 completion date. Atlanta-based Hardin Construction Co. is the general contractor. Unit sizes of the condos range from 650 sf for a one-bedroom, one-bath residence to a 4,000-sf penthouse.

Weeding a buyers’ list of 600 names, Zom sold all of the condo homes last year after announcing the project in April 2005, as GlobeSt.com previously reported. The price range was $200,000 to $1.3 million. The estimated aggregate price was $156 million, Downtown multifamily brokers in a position to know tell GlobeSt.com. Zom Realty Services Inc. handled sales and marketing.