Planned 16-Story Orlando High-Rise Lands New Developer

The Shoma Group is now the developer for the 550 Mariposa project just south of Lake Eola, which was previously pursued by New York-based Lexin Capital.

The Orlando Business Journal reports the 16-story high-rise with 17,160 square feet of retail space has been rebranded to 550 Shoma and now will include a new location for Shoma Bazaar, the group’s culinary concept that operates as a food hall experience.

Lexin Capital filed the original plans for the 223-unit project in April 2022. Later, Shoma Group announced construction will begin in second-quarter 2024, with an expected completion sometime in 2026.

Besides the food court, the development group announced the tower will feature one-, two- and three-bedroom apartments between 756 and 1,472 square feet in size, as well as 1,229-square-foot live/work units. Amenities for residents will include a fitness center, yoga studio, business center and co-working cafe, pool area, movie theater, dog spa and storage units, among other perks.