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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.

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