Margaritaville Hollywood is coming to Hollywood Beach and is likely to completely alter the landscape of the town. The development will stimulate the local economy in a tangible and positive way by creating thousands of jobs, and the revenue from tourism is likely to be substantial given the popularity of the Jimmy Buffet theme. The construction will be managed jointly by Coastal Construction and Tishman Construction and it is being developed jointly by Starwood Investment Group, Lojeta Investment Group, and Margaritaville LLC. The CEO of Coastal Construction issued the following statement regard the partnership and winning the bid, “There are great synergies between our two companies, including our mutual track records for creating hotels, resorts and multi-family residential projects of distinction, but more importantly, our shared values and company culture.”
Margaritaville Hollywood will break ground on August 22, and is scheduled for completion in 2015. It’s development will create thousands of jobs and will stimilulate the local economy through tourism and local commerce, so this is excellent news in turn for the real estate marketplace. Located on 5 watefront acres, Margaritaville Hollywood is truly a resort of epic proportions. It will have a 17 story hotel with 349 rooms, water park, retail space, bars, restaurants, bandshell, boat docks, and a 1056 car garage. Locals and tourists alike will enjoy the many attractions that this facility will hold. Similarly, the real estate in Hollywood is expected to increase in value with the addition of this colossal development. If you are interested in Hollywood real estate, contact us today.