X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

HOLLYWOOD, FL-The wrecking ball takes down 20,000-sf Hollywood Shopping Center in order for Coral Gables-based Cornerstone Premier Communities to begin construction of the first phase of Hollywood Station. The three-building, primarily residential, development will occupy a four-block, eight-acre site along South Dixie Highway, starting at the intersection of Hollywood Boulevard and Van Buren Street.

The development will take place in three phases. Construction of Phase I will begin in spring 2005, and a Cornerstone spokeswoman tells GlobeSt.com the construction cost of this phase is between $50 million and $51 million. It is a 10-story contemporary-design condominium with 214 one-, two-, and three-bedroom units. They range from about 796 sf with 77-sf terraces to 1,522 sf with 194-sf terraces and are being marketed at from the mid-$200,000s to the $400,000s. According to Cornerstone, sales began in October and the building is 60% presold.

Like construction, the demolition will take place in three phases. The second demolition in January and a third in March will clear the property of existing offices and residences for what Leonard Markowitz, Cornerstone’s project executive, describes as “extending the revitalization efforts to the west side of South Dixie Highway.”

On completion, Hollywood Station will contain 600 residential units in a combination of condo buildings, townhouses and lofts along with some boutique retail. Miami Beach-based Kobi Karp is the architect.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2022 ALM Global, LLC. All Rights Reserved.