After a delay of more than a year, construction has started on the H3, a 15-story, 247-unit condominium in downtown Hollywood. Prices range from $270,000 to $450,000.
“This project appeals to middle-income buyers as well as investors with greater income,” said Diego Besga, principal of Team Real Estate Developments. “It makes sense as a primary home or as an investment.”
Peter Zalewski, principal of the CondoVultures.com consulting firm, said the modest prices are a big selling point in a region where many of the new condo developments target luxury buyers.
The project, at 2165 Van Buren St., is expected to open by late 2016 or early 2017. Besga said roughly 60 percent of the studio, one-, two- and three-bedroom units are under contract.
Team Real Estate and the city of Hollywood announced plans for H3 in September 2013, saying at the time that it would break ground by the end of 2013 and open by late 2015.