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Nestled between the bustling metropolises of Fort Lauderdale and Miami, Hollywood emerges as a radiant gem amidst the sun-kissed beaches of South Florida. After years of lying relatively dormant, this quaint beach town is now experiencing an unprecedented surge in its real estate market, fueled by a potent mix of soaring demand and constrained supply.
With land becoming increasingly coveted in the region, Hollywood is undergoing a remarkable transformation, shedding its former tranquility for a vibrant landscape of development unseen in decades. At the heart of this resurgence lies the rejuvenation of downtown Hollywood and its iconic Young Circle area, where a staggering $1.5 billion in real estate projects are either in the pipeline or currently underway.
Leading this charge is BTI Partners, a powerhouse investment and development firm hailing from nearby Fort Lauderdale. Spearheaded by the visionary leadership of CEO Noah Breakstone, BTI Partners is at the forefront of Hollywood's metamorphosis, capitalizing on the burgeoning opportunities presented by the town's evolving urban fabric. As new developments continue to encroach upon previously untapped territories, Breakstone envisions a future brimming with potential, where the identification and revitalization of neighborhoods take center stage in Hollywood's ongoing evolution.
The commercial and residential real estate sectors in Hollywood are booming. The commercial market boasts over 6.4 million square feet of office space with an occupancy rate exceeding 95%. Forbes ranks Hollywood No.9 in the list of major cities with the most significant rise in home values, and the city is witnessing the construction of more than 5,000 new residential units. Notable projects, like Soleste Hollywood Boulevard and University Station, showcase the city's commitment to development and growth. Additionally, industrial zoning and Opportunity Zones, coupled with proximity to key areas like Port Everglades, contribute to Hollywood's appeal for businesses.
Hollywood is investing over $500 million in capital improvement projects, reflecting its commitment to infrastructure enhancement. These projects encompass a new police headquarters, a public-private partnership golf course redevelopment project called Orangebrook, and various other developments aimed at meeting the evolving needs of the community. The city's economic development team is dedicated to assisting businesses with incentives, site selection, and expedited permitting services. With its sought-after beaches, historic downtown, diverse amenities, and an active lifestyle, Hollywood positions itself as a forward-focused city poised for future growth.
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