HOLLYWOOD

Hollywood meeting will focus on changes to Margaritaville lease

 

cteproff@MiamiHerald.com

Hollywood residents and business owners will get their first glimpse of the proposed changes to Margaritaville Hollywood Beach Resort’s lease with the city at a community meeting Thursday.

The meeting, which will begin at 6 p.m., will be held at City Hall, 2600 Hollywood Blvd.

The 350-room hotel and restaurant project has hit several snags since the developers first signed an agreement with the city in 2011. Originally, the developers planned on using a foreign-investment program to finance the project, but that fell through. The developers also hit several road bumps getting state and county permits.

In April, the Hollywood Commission gave developers an extension to begin construction on what is now projected to be a $146 million venture by July 9.

On Thursday, the city will present the changes to its agreement with the developers — a joint venture between Margaritaville and The Lojeta Group. The proposal now includes financing from Starwood Capital, the group that once financed high-end hotels, including St. Regis, W, Westin, and Sheratons globally.

The meeting will include a summary of the proposed changes and a question- and-answer session.

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