HOLLY REAL ESTATE OFFERS WORKFORCE HOUSING AT EMERALD PLACE –AFFORDABLE OWNERSHIP IN DESIRABLE LOCATION

10% Discount Offered To Current Tenants And Community Employees

Hollywood, Fl – Holly Real Estate, a full service commercial real estate company, is offering a solution to the shortage of workforce housing for middle-income South Floridians with its conversion of Emerald Place, an apartment complex located off of Stirling Road and SW 56th Avenue in Hollywood, which is being converted into condominiums priced between the low $140,000s for studio units to the $230,000s for 2/2 units.

While there has been a wealth of luxury real estate development over the past few years, there is real concern about workforce housing. Some developers are beginning to plan affordable housing projects, but they won’t be available for years. Emerald Place, however, is available to buyers today.

“Emerald Place offers a great affordable ownership opportunity, and we are dedicated to delivering good value to our buyers,” said William Holly, president of Holly Real Estate. “There is a huge unmet need for housing at this price point, which allows many people to get their foot in the door on home ownership who otherwise would not be able to do so.

As an added incentive to current tenants and community employees such as utilities workers, firefighters, police officers, teachers and the like, Holly Real Estate is offering a 10% incentive, which can be applied as a down payment or in the form of a discounted purchase price. So for a $230,000 unit those eligible for the incentive will receive $23,000 they can apply toward acquiring the unit. This provides a significant savings, which also will allow many buyers the ability to make the down payment needed to secure financing.

“This development not only offers affordable ownership, but it offers a great lifestyle in an excellent location,” said Holly. “Emerald Place is situated near Emerald Hills, one of east Hollywood’s most desired neighborhoods, on 13 acres, with amenities such as a lake and a pool, jogging paths, tennis courts and picnic areas.”

Emerald Place consists of 300 units in six identical, four-story, garden-style buildings situated on approximately thirteen acres. The development features two tennis courts, a swimming pool, Jacuzzi, fitness center, lakes for fishing, lighted biking and jogging paths and a barbecue area.

Renovations to the common areas are underway that include renovating the pool, building a children’s play area, updating the gym, painting the buildings, lush landscaping, installing new lighting and signage and more. It is located only minutes from the entertainment mecca at Seminole Hard Rock, and seven miles from the beach, and is convenient to both the Florida Turnpike and I-95.

Renovation efforts are slated for completion in early October. Current tenants had the first opportunity to purchase units, and open sales activities are underway. For sales information, contact Emerald Place Condominium sales 954-861-4340. Information is available online at www.emeraldplacecondos.com.

Holly Real Estate:
Holly Real Estate, www.hollyre.com, is a full service real estate company, providing leasing, sales, management and consulting services in Florida. The firm currently represents a number of South Florida’s most prestigious office properties, including Espirito Santo Plaza on Brickell Avenue, 55 Miracle Mile in Downtown Coral Gables and 4000 Ponce de Leon in South Coral Gables. In addition, it has completed several successful condo conversions including the Keystone Point and Keystone Towers just south of Aventura, and Coral Way Gardens near Coral Gables. It is currently converting Melrose Courts in Tampa.

MEDIA CONTACT: Sue Siebert of Boardroom Communications, 954-370-8999, or via email at ssiebert@boardroompr.com.