Margaritaville Hollywood development to receive crucial vote tonight

TRD MIAMI /
May.May 29, 2013 04:00 PM

Hollywood city commissioners will vote tonight on the Margaritaville Hollywood Beach Resort, the Miami Herald reported. An affirmative vote means that the project’s developers can assume control of the property in early July to begin construction.

The developers, Lojeta Millennium and Starwood Capital, need a minimum of five votes in favor to allow the development to move forward.

Tonight’s vote comes after multiple delays, as previously reported.

“This is a viable project,” Lojeta Millennium President Lon Tabatchnick said at a recent meeting. “The proof of that is that we have a viable investment institution willing to commit to the project,” meaning Starwood.

The group will invest at least $45 million of equity for the build.

The site rests on A1A and Johnson Street. The complex would include a 349-room hotel, restaurant and a 600-space public parking garage. [Miami Herald]Zachary Kussin


Related Articles

arrow_forward_ios
A conceptual rendering and Lon Tabatchnick

Margaritaville developer plans another Hollywood hotel despite opposition

Margaritaville Hollywood Beach Resort and KSL’s Michael Shannon

Margaritaville Hollywood Beach scores $38M loan

Developer sues to prevent Hollywood from getting $1.7M from Margaritaville sale

Developer sues to prevent Hollywood from getting $1.7M from Margaritaville sale

Hollywood claims $1.7M of the proceeds from $190M sale of Margaritaville

Hollywood claims $1.7M of the proceeds from $190M sale of Margaritaville

Tom Torgerson, chairman of TPI Hospitality

Fort Myers Beach will get a Margaritaville-branded resort

Weston commission rejects condos at Weston Hills Country Club

Weston commission rejects condos at Weston Hills Country Club

Denver firm buys Margaritaville Hollywood Beach Resort for $190M

Denver firm buys Margaritaville Hollywood Beach Resort for $190M

Jacksonville Beach may get a Margaritaville resort

Jacksonville Beach may get a Margaritaville resort

arrow_forward_ios
Loading...