Zom's joint venture partners are Tampa-based RMC Property Group and N-K Ventures of West Palm Beach. The condos will sell from the low $200,000s to $1 million-plus. Unit sizes range from 650 sf for a one-bedroom, one-bath residence to a 4,000-sf penthouse home.

"This will be the ultimate in live-work-play," says Zom Development vice president Greg West. "The location could not be more ideal and the building itself will be unlike any other in Orlando."

He adds, "The fact that we are building in our backyard gives us a unique perspective on the area and the specific demands of this consumer market."

Looney Riss Kiss Architects of Memphis is designing the building. Zom built the 22-story, $45-million Waverly on Lake Eola as a rental apartment in 2001 and converted the units to condos in 2003. The 230 units are sold out. ZOM CEO Steve Patterson says Paramount on Lake Eola has a potential buyer list of 600 persons who responded to pre-construction advertisements.

"The Waverly made a significant impact on Downtown Orlando by introducing residents to luxury high-rise living," Patterson says. "The Paramount will incorporate many things that we learned in our first Orlando high-rise experience, as well as deliver a unique Art Deco-inspired tower to our growing skyline."

ZOM Realty Services Inc. will handle the sales and marketing of the condo units. RMC Property Group will manage the commercial leasing component. Zom's other mixed-use projects are in Dallas and Houston, and in Florida at Miami Beach, Tampa, St. Petersburg, Surfside, Boca Raton, Coral Springs and Fort Lauderdale.