High-rise to of­fer 200-plus apart­ments

South Florida Sun-Sentinel (Sunday) - - Money - By Lisa J. Huri­ash

A stalled down­town Hol­ly­wood condo project will start con­struc­tion again — this time as a rental apart­ment with a new name.

Trez For­man Cap­i­tal Group has funded a $48.65 mil­lion con­struc­tion loan to al­low for the com­ple­tion of the 15-story,

247-apart­ment project at 2165 Van Buren St.

The project, once known as

H3 Hol­ly­wood, broke ground in

2015, and the pet-friendly con­dos were go­ing to be listed in the

$190,000-to-$380,000 price range.

The gen­eral con­trac­tor, LB Con­struc­tion of South Florida, had stopped work in 2016 be- cause it wasn’t get­ting paid, leav­ing a con­crete shell. But want­ing to re­sume con­struc­tion, it sub­mit­ted the win­ning bid of

$250,200 at a fore­clo­sure auc­tion last year.

The project’s new name will be Hol­ly­wood East, and it’s ex­pected to be com­pleted in 18 months, ac­cord­ing to the lender. A spokes­woman for the de­vel­oper could not be reached for com­ment.

Hol­ly­wood East’s build­ing will in­clude 4,753 square feet of ground-floor re­tail space and a

443-space park­ing garage, ac­cord­ing to the lender.

The project is lo­cated on nearly 2 acres ad­ja­cent to a pro­posed sta­tion for Bright­line,

which re­cently an­nounced a planned re­nam­ing as Vir­gin Trains USA.

Trez For­man Pres­i­dent and CEO Brett For­man said in a state­ment that the bor­rower “has a vi­sion and clear plan to de­liver this

long-an­tic­i­pated project.”

He said Hol­ly­wood was a strong mar­ket and “de­mand from renters for this prod­uct should be high.”

Trez For­man, a joint ven­ture formed in 2016 by For­man Cap­i­tal of Boyn­ton Beach and Trez Cap­i­tal Group of Van­cou­ver, Canada, also loaned money this month to a se­nior­liv­ing fa­cil­ity in Boyn­ton Beach.

The $4.9 mil­lion will be used to help ac­quire the site, a 15-acre par­cel on the north­west cor­ner of Fla­vor Pict Road and Jog Road. The bor­rower plans on de­vel­op­ing a 285-unit con­tin­u­ing-care cen­ter.

IL­LUS­TRA­TION COUR­TESY TREZ FOR­MAN CAP­I­TAL GROUP

Hol­ly­wood East will in­clude 4,753 square feet of ground-floor re­tail space and a 443-space park­ing garage. The de­vel­oper re­ceived a nearly $49 mil­lion con­struc­tion loan to re­sume work.

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