JV Plans $70M Condo, Retail Development

HOLLYWOOD, FL-Lane Investment and Development Corp. and locally based FIRM Realty are planning to develop a $70-million luxury condominium and retail development as part of the revitalization of the city.Radius, a 12-story building with a penthouse level, will feature 285 units. The project will be located at 200 Young Circle, two miles from Hollywood Beach and across from ArtsPark. Designed by the Miami-based architectural firm Mouriz, Salazar & Associates Inc., Radius is scheduled to break ground in October and be completed in May 2006.The development will feature 19 floor plans for one-, two- and three-bedroom units and some loft units. They are pre-construction priced from $175,000 to $400,000 and the units will range from 685 sf to 1,422 air-conditioned sf. Sales are set to begin in June. Units will include stainless steel kitchen appliances, ceramic tile flooring, high-speed Internet access, private balconies, and storage space. Amenities will include a plaza deck, gathering room, a rooftop pool overlooking Young Circle and ArtsPark, a tension pool, a fitness facility, and an Internet café.The retail space will consist of 36,000 sf, about 21,000 sf on Young Circle and 15,000 sf on Polk Street in a city-owned parking deck.Radius is part of the vision of urbanist consultant Bernard Zyscovich of Zyscovich Inc., which the Hollywood City Commission/Community Redevelopment Agency hired to revitalize the city’s Downtown. To follow the curve of Young Circle, the project is to be the first of many what’s called curvilinear buildings. The city redesign is intended to form a mixed-use community surrounding ArtsPark to attract more people to the city and build a healthier local economy.The city broke ground recently on the $14.7-million ArtsPark at Young Circle, a 10-acre project that will consist of a 35,000-sf cultural facility; landscaped gardens, pathways and bridges; performance plazas; public art; a shaded promenade; fountains; and a playground.