Land bought for Hollywood hotel
Polk Street parcel recently rezoned
HOLLYWOOD — North Carolina’s CN Hotels is growing its footprint in South Florida.
An affiliate of the Greensborobased hotel owner-developer and management company — Hollywood Downtown Hotel — has bought land inHollywood to build a hotel with about119 rooms.
Real estate firm Berger Commercial Realty/CORFAC Int’l, headquartered in Fort Lauderdale, represented the seller, 2638 Polk Street LLC, in the $1.05 million sale of the downtown lot, which is a little under an acre.
“The City of Hollywood recently rezoned this area to allow for hotel development and is actively encouraging the redevelopment of this key business corridor,” said Steve Hyatt, a Berger Commercial senior vice president, in a news release.
The parcel at 2638 Polk St. lies east of Interstate 95 and west of U.S. 1, across from City Hall. It is near the main Hollywood Boulevard artery, which has a traffic count of 52,500 cars per day.
Parts of downtown Hollywood are enjoying a renaissance, with several new mixed-use projects underway or inthe pipeline. Chief among them is the $200 million Hollywood Circle development, slated to offer 397 residential units, a 104-room hotel and more than 58,000 square feet of retail space, including a Publix, according to its
Reached by phone Wednesday, CN Hotel managing partner Anit Patel, who is spearheading the South Florida expansion, said the company sees more opportunities for growth in the region.
The Hollywood hotel is still in the planning and design stage and must go through the city’s approval process, Patel said. Talks are underway with a handful of upscale hotel brands to decide on an affiliation for the hotel, which will cater to both leisure and business website, hollywoodcirclefl. travelers.
CNHotels is also eyeing land in Homestead for another hotel, possibly a Hilton Garden Inn, but hasn’t closed on the land, Patel said. The firm is also nearing completion of renovations at the 146-room Holiday Inn Express & Suites Miami-Hialeah.
CN Hotels, founded in 1994, maintains a portfolio of more than 20 owned, developed or managed properties across Florida, the Carolinas and Virginia, according to itswebsite, cnhotels.net.