Swire Properties will announce the release date for its Floridian development in Quarry Bay tomorrow, director and general manager Stephan Spurr said yesterday. Swire last week said the release was delayed by the lack of a Certificate of Compliance. Ricacorp Properties' Quarry Bay branch manager Leon Chu said he expected the Floridian to be priced between $10,000 and $11,000 per square foot. 'There's been a lot of interest from existing Taikoo Shing and Kornhill residents who want to upgrade their living space but, at the same time, stay in the neighbourhood,' he said. Average price per sq ft in Kornhill Gardens was $8,000, he said. The realtor expected the Floridian's release to 'stir things up' in the area as transactions had fallen by half in the past month. 'The Floridian will help draw interest back into the Quarry Bay-Taikoo Shing secondary market,' Mr Chu said. Mr Spurr said the company had applied to the Government for pre-sale consent for its joint-venture strata-title office development with China Motor Bus on 625 King's Road. The development consists of 300,000 sq ft of office space. Swire has also completed the first phase of its $400 million refurbishment of the Cityplaza at Taikoo Shing. The first phase includes 200,000 sq ft of new retail space and 620,000 sq ft of rental office space. The new retail space has been allocated while one-third of the office space has been committed.