Margaritaville brings excitement and renovations toHollywood beachFebruary 01, 2012|By Tonya Alanez, Sun SentinelHOLLYWOOD...
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Microsoft word margaritaville brings excitement and renovations to hollywood beach - feb 81 docx

  1. 1. Margaritaville brings excitement and renovations toHollywood beachFebruary 01, 2012|By Tonya Alanez, Sun SentinelHOLLYWOOD — It wont break ground until June, yet the heavily anticipated Jimmy Buffett-themedMargaritaville Hollywood Beach Resort is spurring a much needed renaissance along the beach,proponents say.It will bring revitalizing energy and excitement and jack up property values along the beach, saythose who are riding the wave of Margaritaville excitement.And in whats been coined the "Margaritaville effect" business owners are increasingly takingadvantage of the Community Redevelopment Agencys grant program that helps pay for privateproperty improvements."Margaritaville is on their minds," said Manuel Pila, the CRAs communications manager. "Theyreaware the beach is going through a change and there is going to be an upgrade in the quality level ofthe retail and the lodgings, and they want to compete. They want to be ready."The 17-story, 349-room island-themed resort will occupy six acres at Johnson Street on theBroadwalk and across A1A on the Intracoastal Waterway. The $130 million endeavor will includeseven restaurants, numerous bars and retail shops, a spa, pools and a simulated-wave pool.Margaritaville will pay more than $1 million annually in property taxes while generating millions ofdollars a year in bed taxes and excise fees. It is predicted that guests annually will spend $60 millionwithin the resort and nearly $30 million offsite.Vinnie Meola, owner of the landmark Oceans 11 Restaurant about five blocks south of SheridanStreet on A1A, expects to see plenty of Margaritaville overflow business."I think its time Hollywood got out of the dark ages," Meola said. "Some people dont want it tochange at all, and thats why its not doing so well. Its lagging behind other beaches like FortLauderdale."In a project update at Wednesdays City Commission meeting, developer Lon Tabatchnick said hessuccessfully clearing final permitting and financing hurdles."Were inside the 10-yard line, going in to score," he said outside the meeting.Revised construction dates set site clearance for June instead of March. Construction will follow inJuly. And the opening date has been nudged back from March 2014 to August 2014."I think its going to be like a great anchor store," said Debra Case, owner of the nearby Ocean AlleyRestaurant and president of the Hollywood Beach Business Association. "It will really kind ofcomplete the emptiness that the central beach maintains right now."  SunSentinel  online  newspaper  -­‐  http://articles.sun-­‐sentinel.com/2012-­‐02-­‐01/news/fl-­‐margaritaville-­‐effect-­‐20120201_1_lon-­‐tabatchnick-­‐debra-­‐case-­‐hollywood-­‐beach-­‐business-­‐association  

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