A Vision For A Vibrant Oceanfront Community: Hollywood Beach Cultural And Community Center Redevelopment

This ambitious endeavor aims to blend Modernity with Environmental Consciousness while preserving the City's Cultural Heritage. As the project talks progress, the collaboration between the City and the Related Group ensures that Hollywood Beach continues to evolve into a cherished destination for residents and visitors alike.

The journey towards the Hollywood Beach Cultural And Community Center Redevelopment began with discussions by the City Commission in February 2020. The objective was to explore Redevelopment opportunities for the current site of the Hollywood Beach Culture And Community Center, Harry Berry Park, and two Surface Parking Lots. In March of the same year, the City received an Unsolicited Proposal that met the Necessary Criteria for a Public-Private Partnership, leading to a call for Competing Proposals. Through a Meticulous Evaluation Process, the Related Group emerged as the Top-Ranked Proposer, setting the stage for Further Negotiations and Community Engagement.

Proposed Public Improvements
A centerpiece of this Redevelopment Project is the 25,500 Square Foot Oceanfront Community center, designed to become a Hub of Activity and Cultural Exchange. The Facility will house a Public Restaurant, Coffee Shop, Snack Bar, a Library, Banquet Hall, Conference Rooms, and a Fitness Center. The proposed center surpasses the current facility's capabilities, offering approximately 8,800 Square Feet of Additional Public Space.

One of the exciting additions is the 2,630 Square Foot Elevated Outdoor Terrace, which promises Breathtaking Views of the Ocean, creating an ideal setting for various events and gatherings. Additionally, the project includes an expansive 43,065 Square Foot Harry Berry Park, complete with Modern Restroom Facilities, Outdoor Showers, and a State-Of-The-Art Children's Playground. This represents a significant increase of approximately 24,565 Square Feet compared to the current park's size.

To enrich the communal experience, the plan incorporates a 12,150 Square Foot Public Plaza Area and Event Lawn, creating open spaces for Social Interaction and Leisure Activities. Adjacent to the site along A1A, a 13,125 Square Foot Landscaped Sculpture Park will be a visually striking addition to the neighborhood, inspiring appreciation for Art and Nature.

Moreover, the project addresses the need for adequate parking with the addition of 148 to 158 Public Parking Spaces, including 80 Covered Garage Spaces. This enhancement aims to Ease Congestion and Facilitate Access to the Beach and the New Community Center. Furthermore, the Preservation of Dunes, along with ADA Accessible Beach Crossovers, exhibits a commitment to Environmental Sustainability and Responsible Urban Planning.

In addition to the Public Improvements, the Redevelopment Project features a 26 to 30-Story Condominium Building designed by the esteemed Firm Arquitectonica. This Contemporary High-Rise Structure will house 135 to 190 Units, significantly reduced from an initial proposal of 300 units. With a proposed height of 303 to 353 feet, the building is conscientiously set back 513 feet from the Beach along A1A/Ocean Drive, ensuring that neighboring condominiums maintain their cherished Ocean Views.

The Residential Component, carefully designed for Current Sea Level Rise Projections, emphasizes Environmental Resilience and Sustainable Living. The developer pledges to achieve LEED Gold or comparable certification, aspiring to set an exemplary standard for green building practices in the area.

City's Financial Return And Ownership
The Comprehensive Agreement and Ground Lease being developed between the City's Project Team and the Related Group will secure the City's Financial Interests while ensuring its continued ownership of the land and Public Facilities. As part of the agreement, the Related Group will provide significant Financial Contributions to the City:

• An Initial Rent Payment of $10 Million at the start of Construction
• An Estimated $10 Million for the Construction of the New Community Center, Park, Plaza, Sculpture Garden, and other Public Improvements
• An additional Estimated Closing Rent Payment ranging from $16 to $35 Million
• A minimum guarantee of $35 Million for the above items, with Projections indicating the possibility of exceeding $40 Million based on Current Market Sales
• On an Annual Basis, the City can expect Substantial Revenue from Property Taxes, Ground Rent, and Payments on Resales, totaling between $2.7 Million to $3.3 Million. Additional Revenue will come from Parking Fees, Restaurant Rent, and Facilities Rentals, further enriching the City's coffers.

The Hollywood Beach Cultural and Community Center Redevelopment Project, in collaboration with the Related Group, symbolizes a vision for a vibrant, sustainable, and inclusive Oceanfront Community. With a focus on Community Input and Responsible Development, this undertaking showcases the commitment of the City of Hollywood to its Residents and Visitors. Through a delicate balance of Public Amenities, Modern Living Spaces, and Environmental Preservation, Hollywood Beach will undoubtedly flourish as a beloved destination for generations to come. As talks continue to progress, the City's dedication to Transparency, Sustainability, and Community Engagement will lay the Foundation for a brighter future on its Iconic Shores.

For more recent information about the project visit: www.hollywoodfl.org Or contact: (954) 921-3620.

Please note: Terms provided are part of a Proposal and are Subject To Change.