Trump, Partners Plan Florida Condo Complex
The Donald is coming.
Three prolific South Florida real estate developers are teaming up to build Trump Hollywood, a 200-unit condominium complex on the beach in Hollywood, Fla., where prices will start at a hefty $1.5 million.
A 40-story contemporary glass tower will be constructed on a 5-acre parcel at 2711 S. Ocean Drive. The Fort Lauderdale Sun-Sentinel reports that Donald Trump, the New York-based real estate mogul and star of TV’s “The Apprentice,” has joined forces with The Related Group of Florida Inc., and Boca Raton-based Ocean Land Investments on the project.
“Donald is a great partner,” said Jorge M. Perez, chairman of The Related Group. “People associate his name with a certain level of finishes and amenities and quality, and I think he’s the best marketing man in real estate.”
Perez said Trump will be involved in marketing, design and quality control. The complex will feature two-, three- and five-bedroom condo units ranging from 2,070 to 4,350 square feet. There will also be two 7,000-square foot penthouse units on the 40th floor. Pre-construction prices for the units — all of which will have a private elevator and ocean views — range from $1.5 million to more than $4 million.
The building’s amenities include a two-story lobby, an oceanfront pool and spa, tennis courts, a fitness center, valet parking and a concierge. The project will have 240 feet of ocean frontage. Perez said that that the project’s target market is empty-nesters and Northeasterners looking for a vacation home. About half the units are expected to be sold to people who will live there full-time.
Trump and The Related Group have collaborated in Florida real estate deal prior to this project. Two Trump Towers are being built in Sunny Isles Beach, with additional ventures currently being discussed. Jacksonville and Atlanta are two markets targeted by the tandem, along with nearby Palm Beach County, Florida.
The third partner in the Hollywood joint venture is Ocean Land Investments, a waterfront developer. The company’s portfolio of successful projects includes Aquazul, a 23-story condominium in Lauderdale-by-the-Sea, and a 27-story condo project on Singer Island.
Trump Hollywood will take the place of a 200-room Holiday Inn. Plans to redevelop the property have been considered for years, especially after damange from Hurricane Wilma forced it to close last year. The architect for Trump Hollywood is Miami Beach-based Robert M. Swedroe Architects-Planners AIA PA. The project is expected to break ground in the winter of 2006, with completion slated for late 2008.
Sounds like a nice place. Want in? Got a million and a half bucks burning a hole in your back pocket? If not, better start looking at some jumbo Florida home loans.
