Groundbreaking for the 12 story, mixed use residential building dubbed the Vive on Eola Tower in Orlando is expected to take place in the first-quarter 2022.
Located at the corner of South Eola Drive and Church Street, the Vive on Eola Tower is designed to provide 144 affordable micro-unit apartments and 3,700 square feet of ground-floor commercial space which will include a signature restaurant and coffee shop. In addition, it will also feature three floors of parking slots and up to 13,500 square feet of co-working space.
Each micro-unit apartment will consist of granite countertops, stainless steel appliances, washing and drying machines, pull-down beds utilizing space-saving designs and much more. Other planned amenities to be provided in the Vive on Eola Tower include several shared communal areas such as a gym, common grilling area, a roof deck lounge and cleaning services will also be offered.
Presently, a 8,100-square-foot office building is still positioned at the project’s site and it will remain operational through month-to-month and other short-term leasing options, until the project developers, Lake Mary-based Dix Developments LLC and Apopka-based Randall Growth Partners, receive a demolition permit and other governmental approvals.
Some other companies participating in the project include Orlando-based Scott + Cormia, working as the project architect and Orlando-based Terra-Max Engineering Inc., handling the civil engineering aspect of the project
The site being used to develop the Vive on Eola Tower was purchased by Whitestone Legacy LLC, an entity related to Randall, at $3.3 million in February 2020 and the project is partly financed by Randall Growth Partners, with an estimated construction cost of about $30 million.
Besides the Vive on Eola Tower, more developments are still coming to Orlando, and despite the setbacks from the pandemic, Orlando ranked 12th highest for new construction and 11th highest nationally for investment in second-quarter 2021.
Other planned developments in Orlando include the $500 million Orlando Magic Sports & Entertainment District with estimated completion time in 2022; $200 million Society Orlando with estimated completion time in Summer 2022, and the $140 million Zoi House.