The property contains 2 folios, 21,600 ft.², zoned FH-2 and provides a 3.0 FAR with a height limitation of 10 stories located within an opportunity zone. It is estimated the site will accommodate 50 units. The subject has a state land use 74 which is an assisted living facility (ALF). The property has been improved with hurricane impact Windows, new kitchens cabinets, countertops, appliances, bathrooms and an exterior PVC fence. The property must be sold in as is condition without changing its use code or sold as a redevelopment opportunity. Accordingly, the highest and best use for the subject property is a 50-unit residential development. The Federal Highway Hollywood and surrounding corridor is quickly gentrifying with many projects in the planning, approved or construction stages.
