Title
A Resolution Of The City Commission Of The City Of Hollywood, Florida, Authorizing The Appropriate City Officials To Execute A Second Amended and Restated Interim Agreement With Housing Trust Group, LLC For The Development Of A Mixed-Use, Mixed-Income Project To Be Located On The City-Owned Parcels Of Land Between Fillmore And Polk Streets Along North 21st Avenue.
Strategic Plan Focus
Economic Vitality
Body
Staff Recommends: Approval of the attached Resolution.
Explanation:
The redevelopment of the City-owned parcels located along N 21st Avenue between Polk and Fillmore Streets has long been a part of downtown redevelopment discussions and plans. These parcels include a former fire station (repurposed and leased to Barry University for its College of Health Sciences in 2011), surface parking lots, and a Shuffleboard Center.
On September 16, 2020, the City Commission approved an Interim Agreement with Housing Trust Group, LLC ("HTG") and ground leases with HTG's affiliates University Station I, LLC and University Station II, Ltd. for a mixed-use project including approximately 216 units of affordable housing for households earning 80% or less of the Area Median Income, along with a shared use parking garage, approximately 12,000 square feet of educational space and 3,000 square feet of commercial/retail ("University Station").
HTG began seeking funding through the Florida Housing Finance Corporation and was awarded State Apartment Incentive Loan program funds. The development plans have been approved and the project is in for building permits.
Over the past year, planning for commuter rail along the FEC corridor has moved forward through a Planning Development and Environmental study conducted by FDOT in partnership with Broward County resulting in the designation of a locally preferred alternative for a phased project in which the southern portion is constructed first. The Broward Commuter Rail - South project, which includes a Downtown Holl...
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