Developer Louis Birdman and partners advanced plans to build 618 apartments in Hollywood, as part of a mixed-use development on a city-owned brownfield property just west of I- 95.
The Hollywood City Commission voted Wednesday to rezone the site from “government use” (GU) to “planned development” (PD) and approve a master plan for the mixed-use development, which will include 25,400 square feet of commercial space.
The city commission also approved a site plan for the unnamed project at 1600 South Park Road and a land development and disposition agreement with Park Road Development LLC, led by developers Birdman, Eric Metz, and Michael Meyers.
Park Road Development LLC submitted the winning bid after Hollywood issued a request for proposals to develop 22 acres of its brownfield property.
A conceptual site plan for the mixed-use development shows six residential buildings in the northern half of the 22-acre site, an office building on the east-central side, and a gas station, convenience store, and restaurant on the site’s southeast side, at the intersection of Pembroke Road and Park Road.
Park Road Development LLC would pay as much as $3.25 million, or $147,773 per acre, to acquire the 22-acre site, according to the firm’s land development and disposition agreement with the city. That price would include a $2 million closing payment and as much as $1.25 million for the residential and commercial components of the mixed-use development.
Birdman, Metz, and Meyers expect to pay even more to clean up the brownfield. They have agreed to pay the cost of remediating the contaminated property and estimate the cost at $5.3 million.
The 22-acre development site is part of a 30-acre municipal property designated by the city of Hollywood and the Florida Department of Environmental Protection as a brownfield due to contamination of its soil and groundwater.
A municipal public works facility for vehicle storage, fueling and maintenance occupies the south side of the 30-acre property. The north side, now vacant, was a rock quarry that the city used for the disposal of general trash, together with ash from municipal incinerators that formerly occupied the property’s south side.
The land development and disposition agreement with the city requires the developers to pay $1,650 for each market-rate unit they plan to build, or as much as $1.02 million for 618 units. The $1,650 fee doesn’t apply to units that qualify as rent-restricted affordable housing.
Their agreement with the city also requires the developers to pay $9 for each square foot of commercial space they intend to build, or $231,700 for 16,800 square feet of office space and 8,900 square feet of space for restaurants and other commercial uses.
Under the agreement, Hollywood would retain about 7 acres of its 30-acre brownfield property for its public works department.
Other terms of the agreement require the developers to pay up to $300,000 to demolish the existing public works facilities next to Park Road, including a fueling station. The developers would then rebuild the fueling station in an interior part of the 30-acre brownfield that the city will retain. The city is responsible for demolition and construction costs over $300,000.