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File #: R-2020-114    Version: 1 Name: 2717 Van Buren Street
Type: Resolution Status: Passed
File created: 5/13/2020 In control: Office of Communications, Marketing & Economic Development
On agenda: 5/20/2020 Final action: 5/20/2020
Title: A Resolution Of The City Commission Of The City Of Hollywood, Florida, Awarding RFP-4640-20PB "Van Buren Street Redevelopment," To Prestigia Real Estate FJM, Inc., and Authorizing The Appropriate City Officials To Negotiate A Land Disposition And Development Agreement With Prestigia Real Estate FJM, Inc. For The Purchase and Redevelopment Of City-Owned Property Located at 2717 Van Buren Street.
Attachments: 1. RESO-Award of RFP for Van Buren Street.pdf, 2. Evaluation Commitee Scoring Matrix.pdf, 3. RFP- 2717 Van Buren Street Redevelopment Opportunity-FINAL.pdf, 4. Prestigia Real Estate FJM Inc_ Proposal.pdf
Title
A Resolution Of The City Commission Of The City Of Hollywood, Florida, Awarding RFP-4640-20PB "Van Buren Street Redevelopment," To Prestigia Real Estate FJM, Inc., and Authorizing The Appropriate City Officials To Negotiate A Land Disposition And Development Agreement With Prestigia Real Estate FJM, Inc. For The Purchase and Redevelopment Of City-Owned Property Located at 2717 Van Buren Street.


Strategic Plan Focus
Economic Vitality


Body

Staff Recommends: Approval of Resolution.


Explanation:
The City owned property, located at 2717 Van Buren Street totaling approximately 1.88 acres, is currently being used as surface parking lot. In 2011 this parcel of land was included among the vacant and underutilized city-owned properties that were designated by the City Commission to be marketed for redevelopment as part of the Professional Sports and Entertainment Enterprise Program. This program sought to encourage the redevelopment of City-owned properties to contribute to the economic vitality of the City. While the City marketed this property both through online listings and through site opportunity materials throughout the years, there were not any proposals for redevelopment.

In October of 2016, the City completed the rezoning of the Regional Activity Center (RAC) which aligned the zoning in this area with the underlying land use. This has resulted in increased development interest within the RAC.

On February 23, 2017, in order to support the redevelopment of the properties located at 2662 and 2700 Hollywood Boulevard, the City Commission approved a 15 year lease with CSM - Hollywood Equities, L.P. for 51 parking spaces to be used by the buildings tenants.

Development interest in the 2717 Van Buren Street property increased in the summer and fall of 2019. To address this growing interest in the redevelopment of the property and in accordance with the City's Strategic Plan which prioritizes Economic Vitality and Quality of Life and Strong N...

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