For nearly a decade, the prime 0.63-acre corner at 170 E. Washington Street sat quiet — known to locals as an impromptu neighborhood dog park. That long-empty lot at Washington Street and Rosalind Avenue is now at the center of one of the most talked-about development proposals in downtown Orlando in years.

Miami-based developer HB Capital Group has filed a master plan for a 37-story mixed-use skyscraper that promises to redefine the Orlando skyline — but the road to approval is proving anything but straightforward.

A Pivot to Luxury: The Tower Breakdown

The proposed $130 million+ development shifts away from modest business spaces toward true luxury living. Rising roughly 425 feet, the sleek tower would tie with The VUE at Lake Eola as the third-tallest building in the city. Designed by renowned Miami-based Kobi Karp Architecture, the tower features a modern aesthetic tailored to complement the nearby Lake Eola Bandshell.

If the city grants final zoning changes and master plan approvals, the tower will include:

• 252 luxury branded condominiums offering 1, 2, and 3-bedroom layouts across 19 floors
• A 9-story, 221-room 5-star hotel
• 35,000 square feet of ground-floor retail, restaurant, and flexible commercial space with outdoor seating facing Lake Eola Park
• A 6-level integrated parking garage
• A unique developer clause allowing hotel floors to be converted to traditional office space post-approval if market conditions shift

The Ghosts of Projects Past

This prime real estate has a notorious history of false starts. HB Capital Group has owned the land since 2018, but economic shifts have repeatedly derailed progress.

In 2017, the city approved a 150-room mid-tier Cambria Hotel for the site. Despite two major redesigns, the project was killed by pandemic-era travel slumps. Later, in 2023, national real estate giant Lincoln Property Company explored options for the lot but ultimately walked away.

The shift from a standard 150-room business hotel to a 425-foot luxury residential and hotel tower reflects the massive post-pandemic surge in developer confidence in downtown Orlando’s real estate market.

What Happened at the May 19 Planning Board Meeting

The proposal went before Orlando’s Municipal Planning Board around May 19, 2026. Orlando’s Appearance Review Board formally praised the tower’s striking design, commending Kobi Karp Architecture’s aesthetic approach as a strong addition to the downtown skyline.

However, the project’s sudden progression has energized local opposition. Members of a century-old church located directly next door to the development site have formally objected to the skyscraper’s footprint. Their concerns center on how the 425-foot tower will encroach upon the historic character of the surrounding structures and Lake Eola Park — one of Orlando’s most beloved public spaces.

City Council Moves to Fast-Track Downtown Development

In a related and significant move, the Orlando City Council voted 6-1 on June 8, 2026 to implement a 36-month moratorium bypassing portions of the historic preservation review process for certain downtown vacant lots. This policy change is designed to accelerate urban infill investment on long-empty properties — a description that fits this project’s corner lot perfectly.

The moratorium could remove one of the key regulatory hurdles the development faces, potentially accelerating the timeline toward final approval despite the ongoing community opposition.

What This Means for Orlando Real Estate

Proposals of this scale signal strong developer confidence in the Orange County and downtown Orlando real estate market. When a $130 million luxury tower targets a specific urban corridor, it typically attracts additional retail, hospitality, and residential investment to the surrounding blocks.

For buyers and investors watching the downtown Orlando market, this development is worth tracking closely. A 5-star hotel and 252 luxury condominiums steps from Lake Eola would represent a meaningful addition to Orlando’s luxury housing inventory — and the kind of anchor project that elevates surrounding property values over time.

The nearby job creation, increased foot traffic, and commercial development along East Washington Street and Rosalind Avenue would make the surrounding neighborhoods more attractive to families and professionals alike. Browse current homes and condos for sale in Orlando FL to see what is available now.

Current Status — June 2026

The project still requires final zoning changes and master plan sign-off from the city. Key factors that will determine its fate:

• Whether the church opposition gains traction with city planners
• How the new 36-month historic preservation moratorium applies to this specific site
• Final zoning and master plan approval from Orlando city officials
• Construction is not expected to break ground in the near future pending these approvals

This is one of the most closely watched development stories in Central Florida right now. Check back for updates as the approval process moves forward.