Downtown Orlando CitiTower to Break Ground this Summer
A new 23-story luxury apartment high-rise called CitiTower will start coming out of the ground sometime this summer in downtown Orlando’s Thornton Park.
Naples-based Summa Development Group LLC is expected to break ground on the $42 million, 233-unit CitiTower apartment project on the northeast corner of East Church Street and Lake Avenue, just across the street from our Metro City Realty office! The Orlando office of Austin Commercial LP is the project general contractor, and Baker Barrios Architects is the designer.
The CitiTower project just a block away from Lake Eola is set to bring more upscale rental units to a hot apartment market, as downtown’s luxury high-rise towers are attracting plenty of renters and keeping the immediate area’s occupancy in the 95 percent range.
New apartment projects offer construction opportunities to local firms, while also helping make downtown more vibrant by bringing in more residents and offering businesses a way to recruit top talent looking to be in a dynamic live-work-play environment.
CitiTower will feature one-, two-, and three-bedroom apartment homes with best-in-class finishes, plus a 345-space integrated parking structure, 8,950 square feet of ground-level retail space, plus a rooftop pool, amenities deck, concierge services, four elevators, and a spacious club-lounge area with WiFi throughout.
At 235 feet, CitiTower will be the tallest building in the South Eola neighborhood, about the same height as both the Waverly and the Capital Plaza II.
The first CitiTower units will be available starting in 2016. Jill Gull of Stiles Realty is handling leasing of the retail space. CitiTower joins a growing list of new downtown apartment projects in the works.
For more information about the CitiTower luxury apartments or any other residential developments in downtown Orlando, please contact us at 407-237-3331.
Source: “Work on new downtown Orlando apartment tower to start this summer,” Orlando Business Journal