Tabatchnick, partner win nod from Hollywood board for mixed-use project
The Hollywood Planning and Development Board approved a joint venture’s proposed $40 million, 310,000-square-foot mixed-use development at the northeast corner of US 441/State Road 7 and Griffin Road.
The developers, Lojeta Group, led by Lon Tabatchnick, and PrivCap Companies, led by Donny Cohen, plan 441 ROC, which will have 180 rental apartments in an eight-story building, a gas station and convenience store, a Wendy’s fast-food restaurant and a 27,000-square foot storage building.
The developers’ joint venture, LL Hart Devlopment LLC, won site plan approval after the board approved new zoning and land development regulations to establish a new transit-oriented corridor along US 441, helping to pave the way for the development.
The new corridor encourages increased density, mixed-use development and the use of mass transit, according to a report by the Hollywood Department of Development Services’ planning division.
PrivCap Companies bought the 6-acre property for 441 ROC three years ago for about $5 million, Cohen, CEO of PrivCap, said. The property is vacant and is made up of several parcels.
Tabatchnick, president of Lojeta and developer of the Margaritaville Hollywood Beach Resort , told The Real Deal that the next step is to go before the Hollywood City Commission. A date for that hearing is not yet scheduled.
Cohen said the partners expect to break ground on 441 ROC in the first quarter of 2018.
original feature can be found at https://therealdeal.com/miami/2017/10/23/tabatchnick-joint-venture-partner-win-nod-from-hollywood-board-for-new-mixed-use-project/