Ten50 Hollywood

About Ten50 Hollywood

Cushman & Wakefield is pleased to present TEN50 (1050 North Federal Highway), a ±1.40-acre urban infill development site fronting US-1 in the Royal Poinciana neighborhood of Hollywood, Florida, offered with site plan approval in hand on eastern Broward County’s most visible commercial corridor, six-tenths of a mile north of Young Circle and ArtsPark. The site sits within the City’s Regional Activity Center, the 1,450-acre framework adopted expressly to concentrate Hollywood’s highest intensity, highest density mixed-use development along the Federal Highway, Dixie Highway and Hollywood Boulevard corridors.

Sites of this scale rarely reach the market on Federal Highway. The corridor is platted in quarter-acre lots, and developers pursuing high-rise density here are typically assembling four to six parcels across as many owners, absorbing the holdout risk, the timing risk and the pricing leakage that come with it. TEN50 delivers ±185 feet of frontage on the region’s primary north-south spine in a single transaction.

What that control point unlocks is disproportionate to the land area. The Live Local Act (SB 102, as amended by SB 328 and SB 1730) entitles a qualifying mixed-income project to the highest residential density permitted anywhere in the municipality, a floor area ratio of at least 150% of the highest allowed anywhere in the City, and a maximum height equal to the tallest building permitted or existing within one mile. At TEN50 the City has already applied it: the approved building stands at 237 feet 7 inches against a 230-foot base limit in the FH-2 district, on a site whose underlying zoning would support a fraction of that intensity.

A purchaser does not begin from a blank sheet, and does not begin from a theory either. The approved 23-story program includes 460 residential units, approximately 7,471 SF of retail space, approximately 14,506 SF of office space and a 537-space structured parking garage across Levels 1 through 8. The entitlement risk that normally sits at the front of a Live Local land deal has already been retired here.

The approved program provides 460 residential units, including a mix of studio, one-bedroom, two-bedroom and larger unit configurations. 184 units, 40% of the building, are restricted at or below 120% AMI for 30 years, giving the project a rent band no unrestricted competitor can match. The comparable that matters most is GAIA Residences at 401 North Federal Highway, roughly six blocks south, which traded to ALTA Developers at $23 million without site plan approval. TEN50 comes to market on the same corridor with site plan approval secured and a full plan set in hand, materially reducing entitlement risk and allowing a purchaser to advance directly into permitting and construction documentation.