Marking a significant milestone, a partnership has been formed for the Hollywood Circle project, a visionary mixed-use development situated in Hollywood, Florida. This ambitious endeavor entails the construction of an impressive 25-story building, encompassing approximately 1,077,000 gross square feet and 505,000 net rentable square feet, along with a conveniently located parking garage. The collective aim is to redefine the landscape of Hollywood Circle, ushering in an exciting new era of urban excellence.
The completed structure, in conjunction with the vibrant Hollywood Circle, will showcase a diverse range of components, including a separate supermarket unit spanning 46,000 square feet, 8,000 square feet of retail space, 397 rental apartments, a 104-room hotel, and a 7,000 square foot restaurant adjacent to the hotel.
Divided into two phases, construction for the Hollywood Circle project commenced in August 2015, with a planned construction period of 27 months. As a key investment partner, HGC, along with other limited partners, has contributed a total investment of USD100 million, forming a crucial part of the USD155 million project. The developer has invested USD33 million, while an additional USD22 million has been secured through debt financing.
With over 30 years of real estate development experience, the developer of the Hollywood Circle project boasts an impressive portfolio of completed projects valued at over 6 billion USD. This wealth of expertise ensures that the Hollywood Circle project will meet and exceed the highest standards of quality and innovation.
The Hollywood Circle project represents a significant milestone in HGC's commitment to creating exceptional and sustainable developments. By partnering with industry leaders, HGC continues to play a pivotal role in shaping the future of urban development in Florida and beyond.