The Estate Cos. won approval for. 23-story apartment tower near Young Circle in Hollywood after purchasing a property from the city.
The city’s Planning and Development Board approved Soleste La Piazza at 1845 Hollywood Blvd. on Sept. 12. As previously reported, South Miami-based the Estate Cos. purchased a long-term ground lease on the property and then offered to buy the 1.01-acre site from the Hollywood Community Redevelopment Agency (CRA).
The city posted a public “notice of opportunity” for a competing proposal to buy and redevelop the property, but it received no responses, according to city officials.
The Estate Cos., through affiliate 1845 Young Circle Holding LLC, purchased the property from the city for $1.5 million in July. It currently has a mixed-use building with 21 residential units and some ground-floor commercial space, but that would be demolished to make way for the project.
Soleste La Piazza would feature 378 apartments, 6,919 square feet of retail, 1,706 square feet of offices and over 470 parking spaces. The units would range from 404-square-foot studios to 1,605 square feet with three bedrooms. Amenities would include a pool deck, fitness center, and social lounge.
“Downtown Hollywood is clearly becoming one of the most desirable urban locations in South Florida,” stated Jeffrey Ardizon, principal of the Estate Cos. “This is our fourth project in downtown, and we continue to stay committed to the transformation of this city. This site sits on Young Circle and Hollywood Boulevard, the city’s main artery, making it the last major developable and most desirable site on the Circle, and we are very excited.”
The developer didn’t provide a timeline for construction.
South Miami-based Form Group is the architect, and attorney Debbie Orshefsky represents the developer in the application.
The Estate Cos. also broke ground on Soleste Hollywood Boulevard in 2022 and started construction of the first of two apartment complexes on Van Buren Street in August.
September 2023. South Florida Business Journal.