Property Description
_
Link to Offering Memorandum
Sale Description
Luxuria of Hollywood is a vacant land parcel located on Hollywood Beach. The property is strategically located in the Hollywood Blvd Corridor with connectivity to the Broadwalk. The Hollywood Beach Broadwalk is a 2.2 mile long pedestrian promenade with immediate access to the Luxuria of Hollywood development site. One Block North of the land parcel is the Historic Hollywood Beach Resort which is being acquired by the Chetrit Group with expectations of complete redevelopment. This project will be an economic driver adding many new jobs to the area.
Hollywood has seen a modest, yet steady, increase in its population density with thousands of newly developed residential units coming to the City of Hollywood. In addition to the projected population increase, income demographics show a strong median household income for South Florida. According to census data, this specific zip code boasts a median household income of $90,748, compared to that of Broward County ($70,331) and Hollywood Municipality ($61,958).
With ocean views and direct access to the beach via a quick, 15-second walk, 300 Van Buren is excellently positioned for the development of luxury boutique condominiums or luxury short term hospitality. Site Plans are attached to the offering that were provided by renowned Architect Kobi Karp. There is a 37-unit condominium development contiguous to Luxuria of Hollywood featuring +/- 100 Units per acre Density as Non-Conforming. Current zoning for the site is BRT-25-R which allows 25U per acre for Residential and 50U per acre hospitality.
Luxury Condominium properties are highly sought after in South Florida with limited vacant land availability in coastal regions. The City of Hollywood has an incredibly accessible Planning & Development team that is available to assist in the development of such condominiums and through major rezoning efforts throughout the city have become well known for being developer friendly.
Location Description
Hollywood, Florida, nestled between Fort Lauderdale and Miami, is a vibrant city renowned for its stunning beaches, diverse culture, and thriving entertainment scene. With a population of 152,131 residents as of 2021, Hollywood boasts a unique blend of historic charm and modern amenities, making it a popular destination for tourists and a coveted place to live for locals.
One of the primary economic drivers in Hollywood is its robust tourism industry. The city’s picturesque coastline, featuring the famous Hollywood Beach Broadwalk, attracts millions of visitors annually. The Broadwalk is lined with boutique shops, restaurants serving diverse cuisines, and lively entertainment venues, creating a bustling atmosphere year-round. Additionally, Hollywood’s proximity to major attractions like Hard Rock Stadium, Miami Grand Prix, Seminole Hard Rock Hotel & Casino and the Everglades National Park furthering its appeal to tourists, driving economic growth through hospitality, retail, and entertainment sectors.
Economic development in Hollywood is also fueled by its strategic location within the larger South Florida metropolitan area. The city serves as a hub for commerce, with easy access to major transportation arteries, including Interstate 95 and the Fort Lauderdale-Hollywood International Airport. This accessibility facilitates trade and business activities, attracting companies across various industries to establish a presence in Hollywood. The city’s commitment to fostering a business-friendly environment through incentives and infrastructure investments further stimulates economic development, with a focus on sectors such as technology, healthcare, and professional services.
Moreover, Hollywood has embarked on ambitious urban revitalization initiatives to enhance its economic landscape. The Downtown Hollywood area has undergone extensive redevelopment, transforming into a vibrant cultural and entertainment district. The ArtsPark at Young Circle stands as a centerpiece, hosting festivals, concerts, and art exhibitions that draw locals and tourists alike. This revitalization effort not only enriches the quality of life for residents but also spurs economic activity through increased foot traffic, retail sales, and investment in commercial real estate. Overall, Hollywood, Florida, continues to thrive as a dynamic city driven by its diverse economy, strategic location, and commitment to sustainable economic growth.
