The condo-hotel marks the first project in the United States for Moses Bensusan, a Canadian developer. Bensusan told The Real Deal he’s aiming to hold a soft opening of the property at the beginning of next year.
International hotel operator Meliá Hotels will manage the resort at 777 North Ocean Drive in Hollywood Beach. The developer said Hollywood has a shortage of up to 10,000 hotel rooms, and he plans to develop more in the city.
Costa International Realty, led by Fernando Valdivieso, is the exclusive sales and marketing firm. A majority of buyers hail from South America, Bensusan said, with most of those coming from Argentina. The developer plans to travel to Chile, Argentina, Brazil, Paraguay and Colombia on a sales trip next week.
Greystone arranged a $22.5 million construction loan for the project in September, but a spokesperson for the company told TRD it was no longer involved in the development as of March of this year.
Units at the Hollywood condo-hotel, which will range from studios to one to three-bedroom apartments, will come equipped with full kitchens and energy efficient appliances, plus flat screen TVs and an automated valet parking system. Amenities include a spa/fitness facility, five restaurants, a business center, a gourmet coffee shop and a rooftop infinity pool (with a bar and grill). The development offers views of the Atlantic Ocean and Intracoastal Waterway.