Tabatchnick, partner win nod from Hollywood board for mixed-use project
310k sf project to be built along US 441 Road 7 in Hollywood
The Hollywood Planning and Development Board approved a joint venture’s proposed $40 million, 310,000-square-foot mixed-use development at the northeast corner of US 441/State Road 7 and Griffin Road.
The developers, Lojeta Group, led by Lon Tabatchnick, and PrivCap Companies, led by Donny Cohen, plan 441 ROC, which will have 180 rental apartments in an eight-story building, a gas station and convenience store, a Wendy’s fast-food restaurant and a 27,000-square foot storage building.
The developers’ joint venture, LL Hart Devlopment LLC, won site plan approval after the board approved new zoning and land development regulations to establish a new transit-oriented corridor along US 441, helping to pave the way for the development.
The new corridor encourages increased density, mixed-use development and the use of mass transit, according to a report by the Hollywood Department of Development Services’ planning division.
PrivCap Companies bought the 6-acre property for 441 ROC three years ago for about $5 million, Cohen, CEO of PrivCap, said. The property is vacant and is made up of several parcels.
Tabatchnick, president of Lojeta and developer of the Margaritaville Hollywood Beach Resort , told The Real Deal that the next step is to go before the Hollywood City Commission. A date for that hearing is not yet scheduled.
Cohen said the partners expect to break ground on 441 ROC in the first quarter of 2018.