$200 Million Hollywood Circle Project Set To Open This Week

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HOLLYWOOD (CBSMiami) – For years, the North East corner of Federal highway and Young Circle in Hollywood was an eye sore.

The building was the location of a deadly shooting.

Then 4 years ago, it was knocked to the ground for the Circ Residences and Hotel.

It includes 389 luxury apartments, a Publix Supermarket, and a 4-Star hotel with an upscale restaurant and a couple swank lounges.

The hope is that it adds to Hollywood's downtown Urban Village plan.

"You're in walking distance to several dozen restaurants and shops and I think that's going to be part of this lifestyle," said Hollywood Circle developer Chip Abele. "Park your car, walk to dinner walk to grocery shopping, walk to do the things you like to do. Enjoy the park and neighborhood."

Jorge Camejo from Hollywood's Community Redevelopment Agency says up to a thousand apartments are on the books for the downtown area.

That includes the Parc Place high rise on Young Circle along with Young Circle Commons, where the dilapidated Great Southern Hotel now stands.

It will have 176 apartments and a Hilton Garden Hotel right at the entrance to the restaurant and entertainment district, which is also getting a facelift.

"This market is about to take off," Camejo said. "I think it's already taking off. I think we're just witnessing what is happening and we're taking stock of the level of activity that has occurred up to this point."

Many projects in development should be under construction or finished within three years. That has area restaurants and stores expecting a good chunk of new business.

"A lot of restaurants that maybe don't get too busy will start getting more game, more business," said Tipsy Boar restaurant server Anthony Yerou. "We do have some new restaurants in the area that I haven't seen too packed. Maybe when these high rises get up and going it will bring the business back around here."

The Circ Residences officially opens on Friday June 1st. The hotel and restaurant already had a soft opening.