Naples Architect Buys Former Montage Site

Jan 07, 2015 No Comments by

A Naples architect bought a site that has been approved for CitiTower highrise apartments near Lake Eola in downtown Orlando.

The property on 101 Lake Ave. previously had been planned for a 19-story, 181-unit apartment called the Montage but that project emerged just as the real estate bubble burst in 2007 and Northwestern Mutual Life Insurance took it 2009, property records show.

This week, the insurance company sold it to East SDG CitiTower LLC for $5.4 million, records show. The buyer is affiliated with Albert Soco, who said that he had no immediate comment about plans to build apartments there.

As proposed, the new project would have 25 stories and 236 units.

 

Source:  Orlando Sentinel

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Industry News, Multi-Family, NA
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