Hallandale Beach Approves 15-Story Homewood Suites by Hilton Near Gulfstream Park
In a significant move for Hallandale Beach's hospitality sector, the city's Planning and Zoning Board has unanimously approved a site plan for a new Homewood Suites by Hilton. This 15-story, 246-room hotel is a collaborative venture between BH Group and Prime Group, aiming to enhance the area's accommodation offerings near the renowned Gulfstream Park.
Project Overview
The approved development is situated at 804 South Federal Highway, strategically located adjacent to Gulfstream Park—a hub known for its racetrack, casino, entertainment, and retail facilities. Designed by Hollywood-based Prime Design Associates, the hotel will feature 281 parking spaces, including a mechanical parking lift system accommodating 40 valet spaces. In exchange for the granted height increase to 15 stories, the developers have committed to dedicating 7.5% of the property for open civic space, funding streetscape improvements, and ensuring the parking area is concealed at sidewalk level.
Evolution of the Development Plan
Initially, BH Group and Prime Group proposed a 14-story building comprising 138 condo-hotel units, 60 standard hotel rooms, and 4,000 square feet of retail space. However, over the summer, the joint venture revised their strategy, opting for a full-service hotel model. Isaac Toledano of BH Group noted that this shift aligns with Prime Group's extensive experience in hotel development.
Strategic Acquisition and Financing
In May, the joint venture acquired the 0.8-acre development site for $6.5 million, with partial financing through a $3.5 million mortgage from Centennial Bank. This strategic acquisition underscores the developers' commitment to investing in the growth and development of Hallandale Beach's hospitality landscape.
Developers' Track Record
Both BH Group and Prime Group have established themselves as prominent players in South Florida's real estate market. Prime Group's portfolio includes the development of Quantum at Flagler Village in Fort Lauderdale, a mixed-use project featuring a 137-key Marriott-branded hotel and 337 apartments.
BH Group has been active in various projects across Miami-Dade and Broward counties, including a partnership with Related Group on a planned 500-key hotel and a 350-unit condominium near the Diplomat Beach Resort in Hollywood.
Implications for Hallandale Beach
The approval of this project signifies a positive trajectory for Hallandale Beach's economic and infrastructural development. The introduction of a reputable brand like Homewood Suites by Hilton is anticipated to attract both business and leisure travelers, thereby boosting local tourism and commerce. The developers' commitment to enhancing public spaces and streetscapes further aligns with the city's vision for sustainable and community-focused growth.
Insights
What led to the change from a mixed-use development to a full-service hotel?
The developers shifted from their initial mixed-use plan to a full-service hotel model to leverage Prime Group's extensive experience in hotel development, aiming to better serve the market demand in Hallandale Beach.
How will the new hotel impact the local community?
The new Homewood Suites by Hilton is expected to enhance the local economy by attracting visitors, creating job opportunities, and contributing to the vibrancy of the area surrounding Gulfstream Park.
What are the developers' commitments to public space in this project?
In exchange for the approved height increase, the developers have committed to dedicating 7.5% of the property for open civic space, funding streetscape improvements, and concealing the parking area at sidewalk level to enhance the pedestrian experience.
This development marks a significant milestone in Hallandale Beach's ongoing transformation, reflecting a strategic collaboration between experienced developers and the city's commitment to thoughtful urban planning.
