Developer Charles Abele just received city commission approval for his $46 million mixed-use project in Hollywood.
Dubbed Block 40, the 19-story tower is slated to go up on a 1.4-acre site at 1830 South Young Circle in the city’s downtown area. Hollywood commissioners on Wednesday approved the project’s development plan, the South Florida Business Journal reported.
When completed, it will house 166 apartments, 103 hotel rooms under the Hilton Garden Inn brand and 11,920 square feet of retail space. The tower would also house 391 parking spaces and pool decks on the eighth and 19th floors.
According to the South Florida Business Journal, Abele’s plan is an updated version of another development plan that was approved for the land more than 10 years ago, but was never built. The latest revision of the project could break ground by end-year 2017.
Abele is the founder and CEO of Gold Coast Florida Regional Center, an agency that facilitates EB-5 investments. Besides Block 40, he’s also currently building the nearby Hollywood Circle, a 25-story project with 397 residential units, 104 hotel rooms and 71,891 square feet of commercial space. [South Florida Business Journal] — Sean Stewart-Muniz