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Block 40 secures $70 million construction loan

A mixed-use development in Hollywood is getting closer to completion.

Block 40 in downtown Hollywood received a $70 million construction loan from Trez Capital.

Block 40 has also received funding from other local sources, including $35 million from Hollywood-based GCF Development, the developer of the 25-story Hollywood Circle. The project also raised $35 million from EB-5 investors through Gold Coast Florida Regional Center, a Hollywood-based USCIS EB-5 Regional Center.

“It’s amazing to watch the development take shape and we’re excited to secure the financial backing to ensure timely completion,” said Charles “Chip” Abele, Block 40 developer and founding partner of GCF Development and Gold Coast Florida Regional Center.

Located on Hollywood Boulevard and Young Circle (the site of the former Great Southern Hotel), Block 40 will stand at 19 stories and feature 273 residential units, split into two components: one with 103 “fully furnished studio and one-bedroom apartments for short- and medium-term stays” and one with 170 luxury rentals, including two penthouses. Designed by Adache Group Architects, the project also includes 22,000 square feet of retail, restaurant and office space.

Besides the amenities, residents and visitors to Block 40 will enjoy the best of Hollywood as it’s minutes from Hollywood Beach Broadwalk, ArtsPark at Young Circle and shops and restaurants.

“There continues to be tremendous demand for luxury apartments throughout South Florida, especially in Downtown Hollywood,” Abele said. “We’re proud to be an integral part of the area’s remarkable revitalization.”

The project is being built by Kast Construction and is scheduled for topping off this month and is expected to be completed this year.

For retail, office and restaurant listing, contact Howard Lefkowitz at 954.540.9777.

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Drew Limsky

Drew Limsky

Editor-in-Chief

BIOGRAPHY

Drew Limsky joined Lifestyle Media Group in August 2020 as Editor-in-Chief of South Florida Business & Wealth. His first issue of SFBW, October 2020, heralded a reimagined structure, with new content categories and a slew of fresh visual themes. “As sort of a cross between Forbes and Robb Report, with a dash of GQ and Vogue,” Limsky says, “SFBW reflects South Florida’s increasingly sophisticated and dynamic business and cultural landscape.”

Limsky, an avid traveler, swimmer and film buff who holds a law degree and Ph.D. from New York University, likes to say, “I’m a doctor, but I can’t operate—except on your brand.” He wrote his dissertation on the nonfiction work of Joan Didion. Prior to that, Limsky received his B.A. in English, summa cum laude, from Emory University and earned his M.A. in literature at American University in connection with a Masters Scholar Award fellowship.

Limsky came to SFBW at the apex of a storied career in journalism and publishing that includes six previous lead editorial roles, including for some of the world’s best-known brands. He served as global editor-in-chief of Lexus magazine, founding editor-in-chief of custom lifestyle magazines for Cadillac and Holland America Line, and was the founding editor-in-chief of Modern Luxury Interiors South Florida. He also was the executive editor for B2B magazines for Acura and Honda Financial Services, and he served as travel editor for Conde Nast. Magazines under Limsky’s editorship have garnered more than 75 industry awards.

He has also written for many of the country’s top newspapers and magazines, including The New York Times, Washington Post, Los Angeles Times, Miami Herald, Boston Globe, USA Today, Worth, Robb Report, Afar, Time Out New York, National Geographic Traveler, Men’s Journal, Ritz-Carlton, Elite Traveler, Florida Design, Metropolis and Architectural Digest Mexico. His other clients have included Four Seasons, Acqualina Resort & Residences, Yahoo!, American Airlines, Wynn, Douglas Elliman and Corcoran. As an adjunct assistant professor, Limsky has taught journalism, film and creative writing at the City University of New York, Pace University, American University and other colleges.