Construction has started on The Tropic, a 224-unit development in Hollywood, Florida.
The 18-story workforce housing project will comprise one-bedroom to three-bedroom homes, with half intended for those making at or above 100 percent of the area median income (AMI). At the time of publication, Broward County Affordable Housing noted that the AMI for 2022 in Broward County was $82,100.
The building will measure 18 stories.
Communal amenities include a fitness center, swimming pool, business center, and 296-spot parking garage. Others include co-working space, a dog park, and a rooftop observation deck.
Affiliated Development secured approval for The Tropic in Fall 2021. Multi-Housing News notes that it will cost $83 million to complete, with funding coming from BankUnited, the City of Hollywood, the Hollywood CRA, Broward County, and other sources.
The Tropic will occupy a .71-acre site.
The South Florida Business Journal reports that Affiliated Development acquired the .71-acre plot for $4.2 million from Lofts at Jackson Street LLC, Soho Lofts I LLC, Soho Lofts II LLC. Prior to the start of construction, the build site was vacant.
MSA Architects designed the 357,929-square-foot high-rise. Conceptual renderings reveal a design that echoes the Miami Modern architectural style in nearby Miami. The Tropic will be located at 1744 N. Federal Highway, Hollywood, Florida, 33020, in Broward County.
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nice building and site
We would like to apply as we are retired and earn less than 82k pa.