Tall & Urban News

Summa Development Group has filed plans with the city to build a new mixed-use skyscraper that would bring the first five-star hotel to Orlando’s Central Business District by late 2023, according to a report in GrowthSpotter.

The South Florida-based developer has a contract on a seven-parcel assemblage across from its 24-story Citi Tower apartment building at 101 Lake Ave. Summa completed the US$57 million tower in 2017 and has been in due diligence for the new 33-story tower project for more than a year.

The as-yet unnamed project would rise on the 1.5 acre (0.6 hectare) site at 319 E Church St., with construction scheduled to start in late 2021. It would include 129 branded residences with a combination of 102 condominiums and 27 penthouse units spread among the 14 upper floors.

The submitted plans call for a 228-key luxury convention hotel with more than 60,000 square feet (5,574 square meters) of indoor and outdoor meeting space on three floors and a Sky Club on the 33rd floor with a pool and outdoor dining.
 
The first floor would feature two restaurants with indoor and outdoor seating, separate lobbies for both the hotel and convention center and 14,310 square feet (1,329 square meters) of public space. The hotel rooms would be housed on six floors above the eight-level parking garage. The ninth floor would house the spa and shared amenities, which include a gym, outdoor fitness center, lap pool, hot tub and cabanas.

Robert E. Smith of Smith Equities RE Advisors owns the office building at the corner of Lake Avenue and Pine Street, and he represents the other four sellers.

If the project moves forward, it would be the first new condo tower built in downtown Orlando since 55 West, which was converted to apartments in 2009. It will be test buyers’ appetites for luxury downtown living.

“Ever since the market crashed, no one has built condos,” Smith said. “I think it will be really exciting to see it come together. The prices these units will be selling for will pull up the value of all the condos around it.”

For more on this story, go to Orlando Sentinel.