Will the city of Orlando follow in the footsteps of cosmopolitan Miami and also evolve to have a skyscraper skyline? It’s still early to conclude, but the projects are starting to get off the ground. Recently developer Cameron Kuhn, responsible for major projects in the city, released renderings of a new US$ 200 million residential tower in downtown Orlando.
The news, released by the Orlando Business Journal, reveals that Kuhn has the option to buy a large area of 1.4 acres (4 thousand square meters), where he now manages a parking lot, to build the new tower. The master plan request has already been filed with the municipal bodies on August 4th.
The new building
The new condo was designed by Chicago-based architectural firm GREC Architects LLC. What is known so far, from the renderings available, is that there will be an amenity deck on the sixth floor with a pool.
The tower is expected to have 36 floors and will offer 54 residential units, as well as office and retail space. It will therefore be a mixed-use complex.
Will Orlando be a new Miami?
The city of Orlando has long been “rivalry” with Miami in the real estate sector. Today the two cities are the most recommended in the world for investments in the sector. Both offer residential, commercial and short-term rental options, with a very high expected return on rent.
Miami has evolved to be a cosmopolitan city, offering neighborhoods with an urban “vibe” along the lines of New York. This is the case of Brickell, in the center of the city, which is currently the most desired by buyers.
In this context, mega residential projects invaded the city. The so-called “skycrapers” dominate the Miami skyline. Something that is not a feature of Orlando. Still!
Orlando, in turn, is famous for large condominiums, whether Vacation Homes near parks or residential homes.
Downtown Orlando, despite being vertical, does not have the same cosmopolitan atmosphere as downtown Miami. Cameron Kuhn’s move to undertake a massive residential tower in the region could indicate a trend.
About AMG International Realty
AMG International Realty is a local real estate company specializing in Florida. If you want to know more about real estate opportunities in the region, contact me right now and chat with me by WhatsApp: +1 (305) 318 6968 (Heloisa Arazi).