International Housing Group Corp. of Fort Lauderdale has joined the stampeding herd of developers who have at least 15 condominium projects, totaling 5,000 units, either under construction, converted from apartments or about to come off the drawing boards, GlobeSt.com learns from preliminary plans filed with the city's planning and zoning board.
Conceptual plans filed by International Housing Group show drawings for an estimated $50-million, 381-unit twin-condo complex with 20,000 sf of retail and a 10-story, 653-space parking garage on nearly 1.6 acres between North Orange Avenue and South Ivanhoe Boulevard, next to the Radisson Plaza Hotel Orlando. The project is tentatively called Orlando Palace with formal owner of record identified as the Palace Orlando LLC.
Plans show one tower would have 37 floors reaching a height of 360 feet. A second tower would have 34 floors rising to a height of 330 feet. The parking garage would be built between the two towers. Planning department staffers tell GlobeSt.com the site is already zoned for multifamily development and retail.
Orlando Palace is the latest in a feverish condo development and condo conversion surge Downtown in the last 18 months. City development officials estimated about $1.5 billion in new projects alone have either broken ground or are scheduled to start construction this year.
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