MHG Hotels is aiming to tear down a pair of single-story office buildings in downtown Hollywood to make way for a mid-rise Marriott-branded hotel.
The Indianapolis-based hospitality developer recently submitted plans to the city of Hollywood to build the 13-story, 112-key Hollywood Courtyard by Marriott at 1926-1934 Tyler Street.
In October, MHG Hotels, led by Sanjay and Ranjan Patel, paid $2 million for the two buildings completed in 1958 and 1960, according to records. MHG Hotels tapped Adache Group Architects to design the 137,000-square-foot project that will cost an estimated $30 million to build, according to a press release.
Renderings of the Hollywood Courtyard by Marriott hotel (Adache Group Architects)
The new hotel’s amenities will include a pool, a bistro and bar, a Starbucks, meeting rooms, a business center and a gym. The redevelopment site is near Young Circle and Hollywood Boulevard.
Founded in 1991, MHG Hotels focuses on developing and owning hotel properties, but also dabbles in self-storage and multifamily projects, according to its websites. The company owns 17 hotels across the U.S., including a Fairfield Inn & Suites in Deerfield Beach. MHG Hotels also owns an Extra Space Storage warehouse in West Palm Beach, the company’s website states.
New development activity is picking up in Hollywood. Earlier this month, Hollywood commissioners approved a deal with Related Group to rebuild the outdated Hollywood Beach Culture and Community Center and to develop a 26-story condo building on the west side of the city-owned beachfront property.
Last month, AMAC purchased a 2.2-acre development site at 4465 Griffin Road in Hollywood for $6.6 million. The New York-based real estate investment firm is partnering with Miami-based ROVR Development to build a 180-unit apartment project.
And Brooklyn-based Condra Group bought a pair of Hollywood Beach motels for a combined $12.9 million in January. The properties are part of a large assemblage the real estate investment firm plans on eventually redeveloping into a larger hotel.