The new site follows Gerrity's For The Tenant.com free office space search site started in 2004, as GlobeSt.com previously reported. Real Estate Channel will also be free to all users, Gerrity tells GlobeSt.com.

He estimates the gross cost for launching the site will be about $15 million and anticipates the project will generate about $300 million in gross advertising revenue in five years. Real Estate Channel will have a startup staff of 20 and is expected to grow to 200 employees over five years, Gerrity tells GlobeSt.com.

He says the site is "a newly emerging IP-based broadcasting network for the delivery of customized video-on-demand [VOD] real estate programming and content to any person on any Internet-enabled device, anywhere in the world, anytime."

The site "will enable global online audiences the ability to search and view video content on demand by various subject categories or by geographic relevance," Gerrity says. The 42-year-old entrepreneur operated his own commercial real estate brokerage, Gerrity Equity Advisors, from 1989 to 2003.

Real Estate Channel video content will include "two major video category types: scripted television shows, as well as industry created video content from various real estate developers, brokerage firms, master-planned communities, resorts, timeshares, apartment communities or related service providers or retailers," Gerrity tells GlobeSt.com.

Gerrity is confident the timing is right for the Real Estate Channel launch. "With the explosive growth of broadband uptake and usage by consumers over the last three years, the ability to stream high-quality, full-screen video content to consumers with Internet Protocol Television or IP-TV is now a reality," he says.

"Because of such, we are now building and deploying the Real Estate Channel in the third quarter of 2006 to embrace this new enabling technology and trend," he adds. "Think of us as launching a full-blown interactive cable channel over the web for the entire US real estate marketplace." He tells GlobeSt.com, "There is nothing else like it right now on the Internet…that is, an aggregate site with everything [the user needs] under one roof."

MultiChannel Ventures operates from offices at Universal Studios in southwest Orlando. The company's advisory board includes Rick Michaels, founder and chairman, Communications Equity Associates; Darrell Kelley, president and CEO, Enterprise Florida; Dr. Michael Baron, president and CEO, Real Digital Media LLC; Ed Parker, Orlando media consultant; George Mezo, retired senior director, Oracle Corp.; Robert Long, retired Eastman Kodak senior vice president and active board member at SunMicrosystems Inc.; Thomas Huber, president and CEO, SunGard Collegis Inc.; Judson French Jr., founder and CEO. Strategic Services International Inc.; and Dan Horn, former director of advanced technology, CNN/Turner Broadcasting Co., Atlanta.