The projected number of downtown condominium units increased by about 510 this afternoon as ground was broken at Eola Place. The 16 story building is expected to be completed in 2008 with condos currently ranging in price from around $270k to $1.6 million.The mayor of Orlando, Buddy Dyer and commissioner Patty Sheehan donned hard hats as they supervised the destruction of two older units to make way for the project, which joins the Vue, Star Tower and the Paramount all of which have all made it to the under construction phase of development – no small feet in today’s “Normal” marketplace.
Each downtown ground breaking helps to clarify the fate of that particular project, while at the same decreasing the likelihood that the remaining projects will ever make it to construction. 2007 will turn out to be a defining year for those that linger, with developers needing more balls than George Bush to Stay The Course in this brutally competitive arena.
It’s true that when things go well, developers can make millions, but right now, all I can say is, I’m happy not to be one. So if you have a developer in the family, and you’re still shopping for that special holiday gift, might I suggest Head On?
Apply Directly to the Forehead.