Posted Mar 22, 2014, 1:14 AM
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![chris08876's Avatar](image.php?u=78284&dateline=1716603370) |
NYC/NJ/Miami-Dade
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Join Date: Jul 2013
Location: Riverview Estates Fairway (PA)
Posts: 46,486
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Near Ft. Lauderdale: Hollywood, Florida
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Hollywood skyline about to change with new beachfront tower
Quote:
A planned high-rise will tower over the beach as one of the city's tallest buildings.
With 407 rooms, the sleek 40-story Hyde Resort & Residences will stand 460 feet tall at the southernmost end of Hollywood beach at 4111 S. Ocean Drive, right next to Hallandale Beach's landmark water tower.
"That building is going to be iconic," Commissioner Patty Asseff said of the $240 million project, which calls for 40 year-round residential condos and 367 condo-hotel units, where guests and owners can stay for up to 150 days at a time.
"It should be a wow building," Asseff said. "It has great lines and design."
The Related Group was granted initial approval this week from Hollywood commissioners to build the Hyde Resort on a 1.6-acre lot on the northeast corner of South Ocean Drive and Hallandale Beach Boulevard.
Hollywood officials are expected to take a final vote as soon as April.
Hyde Resort may be Hollywood's first mixed-use hybrid to combine residential condos with condo-hotel units, said Alan Koslow, an attorney for the developer.
Hybrid projects that combine residential condos with condo-hotels are mainly attracting foreign investors from South America, said Jack McCabe, a real estate analyst based in Deerfield Beach.
"The concept ran into trouble during the boom years last decade," McCabe said. "Many of those projects are now resurfacing. Some are identical to last decade's plans and some have been scaled down."
Similar projects are already standing or on the way in Fort Lauderdale, Miami Beach, Aventura and Sunny Isles, McCabe said.
In Hollywood, construction crews are toiling on the 17-story, 349-room Margaritaville project and nearby Costa Hollywood, an upscale condo-hotel resort with 304 units. The Jimmy Buffett-themed Margaritaville resort is set to open in mid-2015.
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