SOuth Broward, Hollywood | How Much New Development is Happening within the RAC (Roughly US-1 to Dixie; Pembroke to Sheridan)

SOuth Broward, Hollywood  | How Much New Development is Happening within the RAC (Roughly US-1 to Dixie; Pembroke to Sheridan)


Hollywood is the third largest city in Broward County and is strategically located on the South Florida coast between Fort Lauderdale and Miami. Hollywood is adjacent to the Fort Lauderdale-Hollywood International Airport and is the primary home to Port Everglades. In addition to its proximity to I-95 and the Florida Turnpike, Hollywood is home to two Commerce/Industrial Parks and has a growing niche in Professional Services and Healthcare. There is more than $1.5 billion in real estate development, planned or under construction, throughout the city with key commercial corridors offering additional redevelopment opportunities. Hollywood is easily accessible to South Florida’s major cities and offers convenient connections through commuter rail service creating an ideal environment for mixed-use, transit-oriented projects that provide the urban lifestyle many are seeking. Hollywood is a global tourism destination with visitors coming to stay along the historic oceanfront Broadwalk—a 2.5-mile pedestrian promenade just steps from the Atlantic Ocean featuring shops, restaurants, and accommodations to fit every taste and budget. The city boasts a high quality of life with more than 60 parks, five golf courses, and a variety of recreational amenities including a nearly 10-acre urban park in the heart of Downtown Hollywood with outdoor concerts and special events within a burgeoning arts scene.

The Regional Activity Center (RAC) is generally located East of I-95 and West of 17th Avenue with Sheridan Street as the northern boundary and Pembroke Road as the southern boundary. The RAC covers an area of over 1,450 acres that includes Downtown Hollywood and the key commercial and residential corridors of Federal Highway, Dixie Highway and a portion of Hollywood Boulevard. It is within this boundary where a majority of residential development is occurring. Click this link to view our report regarding current projects that are or have been in the development review process, not necessarily approved or built as gleaned through The Technical Advisory Committee’s agenda.

The Technical Advisory Committee (TAC) is made up of technical staff representing the various multi-disciplinary department heads within the city of Hollywood such as Building, Fire, CRA, Planning, etc. TAC provides technical review and guides the applicant through the process through the Pre-Application Conceptual Overview (PACO) and two TAC meetings. The 1st being a preliminary and the latter a final prior to appearing before the Planning and Development board for approval assuming all conditions are met.

How Can Media Realty Help?

Infill development can create a unique highest and best use exit strategy for Mid-Core property owners.

Highest and best use is one of the most important and least understood principles in real estate. This principle, more than anything else, is what determines value for properties where the existing structure can be raised and something better developed in its place. Why is the highest and best use so important? It’s because this analysis determines whether or not a proposed project is legally permissible, physically possible, and financially feasible.

Media Realty helps navigate this process, not for the developer, but for the current stakeholder. We have found in many times, the most profitable use of a site is redevelopment because the land to value ratio exceeds the value derived by the income approach, thus providing the best net return to the landlord.