22- Story Condo tower in Hollywood launches Sales

Sales have launched for a 22-story rebranded condo project with flexible rental terms in downtown Hollywood.

Slated to be built on a vacant lot at 1817 Taylor Street, One Hollywood Residences will consist of 248 residences between 517 and 1,425 square feet in size.

The building will allow its owners to rent out its units, though at a minimum of 30 days and 12 times a year, said Maria Elena Plasencia, a realtor associate affiliated with Fortune International Group and the project’s sales director.

“We are closing this as more of a long-term rental where you have this flexibility,” she said. “This is not a condo hotel. You are in no obligation to do a 30-day rental. If you want to live here or do a long-term rental that is entirely up to you.”

Amenities will include a resort-style pool and spa with lounge chairs and cabanas, an outdoor bar and BBQ, a rooftop garden, a sauna and treatment room, a fitness center, co-working spaces, a kids club and playground, a lobby lounge with reception and concierge services, valet parking, and a multi-purpose clubroom and private event space with a dedicated kitchen.

Groundbreaking is anticipated to start in the summer of 2025, and One Hollywood Residences is targeted for completion in late 2027, Plasencia said.

The condo project will be built on a 35,516-square-foot site acquired by Doral-based 1817 Taylor Development LLC, managed by Alejandro Ensinck and Santiago Teran, for $6.7 million in 2022. Ensinck is now the managing director of Star Developers Group, a conglomerate of several real estate industry professionals, a One Hollywood Residences spokesperson said.

The building was originally conceived as a 19-story condo project called Star Tower Hollywood with 182 residential units between 993 and 1,496 square feet in size. Amended plans for a taller project with more units totaling 511,620-square-feet in size were approved by the city earlier this year.

As for the small size of some of One Hollywood Residences’ units, that is part of a larger development trend due to high construction costs, Plascencia said.

Prices for units in One Hollywood Residences start in the $400,000s or $700 a square foot, an offer that will expire soon as sales rates increase, she said.