Unlike the three previously announced towers, which will bedeveloped oceanside on Collins Avenue, the fourth tower will bedeveloped on the west side of Collins Avenue and 29th Street. Oneof the three oceanside towers will be a renovation of the SevilleBeach Hotel, the other two will be new construction. The project developersare locally based Lionstone Development and Fortune International.The project is expected to break ground by the end of 2007 withcompletion of all four towers anticipated in early 2010.

Fortune International president Edgardo Defortuna tellsGlobeSt.com that the fourth tower will be constructed on a lot thatwas originally planned for a parking lot. There are two smallstructures of the site, one of which will be demolished and anotherthat will be incorporated into the project.

The new tower, designed by Miami-based architect Luis Revueltaof Revuelta Vega Leon, will feature 36 one-bedroom units, 17two-bedroom units and two three-bedroom units ranging in size from900 sf to more than 2,400 sf. Prices for the new units will beginin the $700,000s. Marketing efforts for the fourth tower will beginin about a week, Defortuna says.