Located near Cork city hall, the €150m development, built by Michael O'Flynn, stands an impressive 71 metres high.
The scheme aims to lead the way for the regeneration in the nearby docklands area.
The development has topped Dublin's Liberty Hall and Cork's County Hall as the Republic's tallest structure.
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A number of government ministers were in attendance for the launch last night, including Michael Martin and Batt O'Keeffe.
Elysian is set in three acres of mixed-use space, offering 211 luxury apartments, with prices ranging from €375,000 to €2m.
The scheme also features retails units, as well as bars and eateries.
Mr O'Flynn described the Elysian as "totally unique in Ireland".
He said: "We believe this project ranks alongside the very finest developments of its type in London, Paris or anywhere else."
According to Sherry Fitzgerald estate agent Trish Stokes, there has been great interest in the development.
Ms Stokes said: "There is an owner-occupier market and this will appeal to a broad range of age groups who want a very special cosmopolitan contemporary setting in keeping with that available in other modern European cities."
(PR/JM)
