$200 Million Condo Project Breaks Ground

The first 32-unit building in a $200 million, 811-unit oceanfront condominium development is sold out just as construction is getting under way in River’s Edge at Harbour Village Golf & Yacht Club in Ponce Inlet, 50 miles northeast of Downtown Orlando.

Building 100 is scheduled to open in March 2001. River’s Edge will have 184 units in six buildings. A new building will break ground every 30 days.

A total of 190 luxury condos and 100 boat slips have been pre-sold in the past 12 months for a total $54 million, says executive vice president of development Richard Friedman. “Demand is steady,” he tells GlobeSt.com.

The average price for a three-bedroom, three-and-a-half-bath unit is $300,000. A one bedroom, one and a half-bath unit averages $180,000. The condos range from 1,100 sf to 2,200 sf. The average 15-foot by 32-foot boat slip is $14,200. A 23-foot by 58-foot slip averages $122,300.