Miami developer takes over downtown tower project with food hall

Coral Gables-based Shoma Group has taken over the development plans for a new 16-story apartment tower in Orlando’s Central Business District and rebranded it as 550 Shoma. The building will rise on a 1.1-acre lot at 550 Mariposa St. that was entitled for a second phase of a condo project called Eola Place. It was previously under contract to New York-based Lexin Capital, which filed the new master plan in 2022 and worked with architecture firm Baker Barrios on the design of the building. The development plan calls for 223 residential units, a parking garage that can accommodate 425 vehicles and 17,160 square feet of commercial space on the ground floor.