Condominium resale activity in the Hollywood/Hallandale Beach area fell 17 percent in the first quarter, compared to the same period in 2011, although prices rose, according to a report from Condo Vultures. A total of 345 condo resales transacted in the first three months of 2012, down from 410 in the first quarter last year. [more]

Two mixed-use towers have been approved for construction in Hollywood, the South Florida Business Journal reported. Young Circle Commons and Hollywood Circle Commons, which have 19 and 26 stories, respectively, will have at least 600 residential units among them, in addition to retail space and office space. [SFBJ]

DBSI Sheridan has sold a Hollywood office campus has sold for $6.85 million. DBSI, which was a debtor in bankruptcy, sold the property as part of its Chapter 11 bankruptcy plan to Marx Developments, a limited liability company. Marx was represented by Gary Simon of Simon & Simon P.A., while DBSI was represented in the deal by Brett Lieberman of Messina, P.A. The property is located at 7261 and 7369 Sheridan Street in Hollywood. — Alexander Britell

The Seminole Hard Rock

Hollywood could be the location of another 1,000-room hotel, if a plan by the Seminole Tribe of Florida comes to fruition, the South Florida Business Journal reported. The project won’t start until Florida’s debate over expanding gaming is concluded, however. The hotel is among several new hotels proposed by the tribe, including ones in Coconut Creek, Immokalee and Tampa. The tribe’s holdings are currently highlighted by the Seminole Hard Rock, which recently underwent an expansion including a new $50 million garage project. [SFBJ]

The Hemispheres condominium

Buyers purchased an average of 140 condominium units per month in the Hollywood/Hallandale Beach market in 2011, an increase of nearly 20 units per month from 2010, according to a report from Condo Vultures. “The Hollywood/Hallandale coastal market is benefiting from the influx of investors chasing deeply-discounted condo resales that can be leased out to tenants who are willing to pay higher rents,” said Peter Zalewski, founder of brokerage and consultancy Condo Vultures. [more]

The rupture of a 48-inch sewage main in Hollywood this morning has led to a mass effort to contain the spill, according to the Sun Sentinel. “We are currently treating much of what is spilling to the south, trying to sandbag properties to the west of Rotary Park [that] have been impacted,” said Greg Turek, interim director of public services for the city of Hollywood. “We think that within 48 hours we should have it under control.” Several businesses and organizations have closed due to the spill, including the Hollywood YMCA. The spill actually woke up one Hollywood resident. “It’s disgusting,” said Jose Merchan. [Sun Sentinel] [more]

A Miami financial services firm was one of the first two beneficiaries of a new venture fund in Orlando. Florida Mezzanine and CapitalSouth Partners of Charlotte have combined on a fund with up to $450 Million in potential loans for Florida businesses. One of the local companies receiving funds, Great HealthWorks in Hollywood, will use much of the money on upgrades to its new facility. Miami-based Association Financial Services, which provides loans to homeowner and condo associations, is expected to hire new staffers and broaden its reach to Tampa. [Sun-Sentinel] Comments

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In an attention-grabbing move to fill empty retail space at a mixed-use downtown Hollywood condominium project, the leasing agent has awarded two years of free rent to a new business tenant. The theory in a depressed market, it seems to be, is that if you’ve built it and given some away, they will come. In a market with 25 percent vacancy rates downtown, every little bit helps. A retail store specializing in products made from alligator skin is scheduled to open in mid-October after being chosen out of nearly 100 applicants to fill a vacant, 1,741-square-foot retail space in the Radius Condominium project. The 15-story, $70 million 311-unit development off Young Circle in downtown Hollywood was once hailed as the flagship of downtown redevelopment. But the building opened in 2007 just as the condo bubble started collapsing and its fortunes were tossed into the market maelstrom. more

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Francois Larocque and Yannick Larue, a pair of 21-year-old Montreal residents, are hustling to build a business to get snowbirds into Florida condos. They are buying condos from Floridians and setting up purchases by Quebecers for a fixed fee. The pair usually charges $10,000 for finding the property, deeds, title searches and other paper work. Most of their activity is in Hollywood, which in the French-majority Canadian province is often called Montreal by the sea.

The Hollywood City Commissioners voted yesterday to complete the final
major piece of the city’s ArtsPark project, an amphitheater that will
drive the entire development’s price tag up to $23 million, more than
twice an original $11 million estimate. City officials said the
amphitheater project could go out for bid next month and be complete by
December 2010. [more]