Moses Bensusan and his family love to vacation in Hollywood, Fla., drawn by the boardwalk along the Atlantic Ocean, white beaches and activities in the community, and he says other Canadians will too.
Spurred by his own desire to have an option to the little motels that dot the beachfront, the idea of building a modern upscale condo/resort was born. For five years, the president and CEO of Liberty Grande worked to assemble five beachfront acres so he could build Costa Hollywood, a 307-room resort and retail complex slated to be completed in spring 2015. The project broke ground in June.
Turnkey studios and one- and two-bedroom suites offer from 338 to 1,200 square feet, terraces and views of the ocean and the Intracoastal Waterway.
Priced at $250,000 to $650,000, Costa Hollywood’s price point is attractive, Bensusan says. A program that allows owners to rent their suites when not in use is another drawing card.
Designer rooms feature a neutral pallet with touches of red, spa bathrooms with oval tubs and separate showers, fully equipped kitchens and in-suite technology including high-speed Internet access. Rooms also feature individual climate control.
Common areas include a rooftop infinity pool on the seventh floor, a gourmet restaurant, a spa and a fitness centre. Services include valet parking.
Costa Hollywood is close to the 2.5-mile Hollywood Boardwalk, malls, parks, horse racing, a casino and a large cruise ship port. It also enjoys close proximity to South Beach and its nightlife. It’s also within about a dozen minutes’ drive of the Fort Lauderdale Hollywood International Airport and less than a half hour from Miami International Airport.
Costa Hollywood is attractive to Canadians because of its location, price point and amenities, says Bensusan, who has developed high-end commercial properties in Canada and in the United States. In 2009, Liberty Grande acquired Logitech Construction Group, which has been named one of the top 25 construction companies in South Florida by the South Florida Business Journal in 2012, Costa Hollywood’s website says.
Sixty per cent of the suites have been sold, with 12 per cent purchased by Canadians. “It’s the perfect place to escape Canadian winters,” Bensusan says. Other suites have been sold to international buyers, including those from Argentina and Brazil.
Brokers are being offered a six-per-cent commission.
For more information about Costa Hollywood Condo Resort at Hollywood Beach Village, visit www.costahollywood.com. Costa Hollywood is at 777 North Ocean Dr. in Hollywood Beach.