If you've driven the corner of Indian River Boulevard and 41st Street lately, you've seen The Vivien — a sprawling new three-story apartment complex pitching itself as the high end of Vero rentals. It's open, it's leasing, and it's filling up at its own pace.
The numbers: 189 units across 12 floor plans, from 820-square-foot one-bedrooms up to 2,020-square-foot three-bedrooms, plus townhouses pushing 3,000 square feet with 2.5-car garages. Developer Tom Cavanaugh's Winter Park-based PAC Land Development is behind it.
The amenities lean resort, not apartment complex. There's a golf simulator, a saltwater pool with cabanas, pickleball courts, a sauna and steam rooms, a fitness center with yoga and spin space, a demonstration kitchen, and even pet grooming. The pitch is clear — this is for renters who want the lifestyle without buying a house.
That lifestyle has a price. One-bedrooms start around $2,199 a month, two-bedrooms around $2,700, three-bedrooms near $5,000, and the townhomes top out around $5,900 — before you add a couple hundred a month for utilities and insurance.
Leasing has been steadier than fast. The complex closed back in December 2022 and started construction in late 2023, with the first tenant moving in October 2025 — later than the early-2025 opening originally floated. As of early June, it was about 42% leased, with roughly 110 units still available.
Cavanaugh told Vero News he's aiming to hit about 95% occupancy by the end of the year. Whether Vero's rental market has enough $2,000-plus renters to get him there is the open question.
For the 772, The Vivien is a data point worth watching: it tells you what developers think the top of the local rental market will bear — and how quickly that market actually shows up.