Its Time Has Come: The NEW Young Circle In Hollywood
April 20, 2023
One of the jewels in Downtown Hollywood is the Parkside neighborhood. Parkside is one of the oldest neighborhoods in the City of Hollywood, it's graced with a luscious canopy of oak trees, a smattering of single-family homes in assorted architectural styles and a healthy mix of multiplexes, small apartment-buildings and boutique condominiums.
Just a narrow sliver of a neighborhood, Parkside is a mere 3 blocks wide. It extends from Downtown Hollywood in the North to Pembroke Road in the South, bordered by Federal Highway to the East and Dixie Highway to the West.
Its Time Has Come
“Parkside is one of the great Hollywood neighborhoods. With its proximity to Downtown, its gorgeous tree-lined streets and perfect location within the city, this is urban living at its finest.“ Josh Levy, Mayor of Hollywood
Not only is Parkside receiving an influx of new boutique developments – Downtown’s Young Circle is about to be surrounded by a series of state-of-the-art condominium and retail properties like the just opened 1818 Park and the new Hollywood Bread Building being constructed.
Add several new apartment dwellings on South Federal Highway as well as the upcoming expansion of the Art and Culture Center Hollywood and Downtown will receive an infusion of vibrant business activity. Parkside residents can walk to Young Circle and enjoy the many lifestyle perks this new vibrancy will provide.
“Parkside’s charm is undeniable. It is an authentic, walkable, traditional urban neighborhood that provides all of the opportunities, connectivity and vibrancy that one desires in the pursuit of the good life.“ Wazir Ishmael, Ph.D., City Manager, City of Hollywood
Young Circle History
Young Circle is the easternmost of three major traffic circles envisioned by the City of Hollywood’s Founder, Joseph W. Young. Eventually, it would serve as an anchor for Downtown Hollywood and become a source of frustration for many driving along Hollywood Boulevard and US-1. As Florida underwent significant growth in the 1960’s, Young Circle began its ‘mid-century’ transformation where cornerstone structures from the city’s founding in the 1920’s gave way to modern shopping plazas and several highrise buildings.
Hollywood Bread Building History
Although known as the Hollywood Bread Building, the adjacent Home Federal Savings actually owned the structure with Hollywood Bread occupying the office spaces. Construction began in 1967 and it formally opened in 1969 with five office floors and six parking floors that accommodated 411 spaces for both buildings. In the 1940’s, Hollywood Bread founder Eleanor Hansberry developed a diet bread recipe that included eight vegetable flours. Noted movie personalities of the era, including Ann Blyth, Dorothy Hart, and Virginia Mayo served as product spokespersons leading to the “Hollywood Bread” name. Hansberry relocated the company headquarters to Hollywood, Florida in the 1960’s. In 1969, the nation would get a glimpse of her empire and the Hollywood Bread Building, when Hansberry appeared in an issue of Vogue Magazine.
Following the death of Hansberry in 1978, the company lost momentum and would eventually be liquidated. Beginning in the 1990’s, the Hollywood Bread Building was without tenants and slid into a state of disrepair. The structure was purchased by a development company seeking to erect a mixed-use highrise. The landmark Hollywood Bread Building signage was removed prior to demolition with developers noting its planned incorporation into the new structure.
The demolition of the Hollywood Bread Building in fall 2021 reflects another metamorphosis for Young Circle and the loss of one of the few remaining significant connections to mid-century Young Circle.
The New Bread Building
After paying $11 Million for the property, BTI Partners tore down the 11-story Bread Building and nabbed an $83 Million Construction Loan.
“The New Hollywood Bread Building development will continue to inject new life into Downtown Hollywood and is an important milestone to the future redevelopment of a new and revitalized Young Circle,” said Noah Breakstone, CEO of BTI Partners. “Overlooking ArtsPark, easy access to amazing beaches and close proximity to South Florida’s largest employment hubs, the new mixed-use development will be a tremendous asset for the city and residents looking to live, work and play in Hollywood’s east urban core.”
“We are proud to be part of a development team that is focused on bringing new life to Downtown Hollywood, which has so much to offer,” said Michael Denberg, Managing Partner of Saul Ewing’s Fort Lauderdale office. “The New Hollywood Bread Building will bring pedestrian activity to the ArtsPark and to the many businesses on Young Circle eager to grow and thrive. This is the perfect urban location to create a highly-desired live, work, play and enjoy environment.”
“Bridge is excited to bring a development of this quality to Young Circle for Hollywood residents to enjoy,” said David Coelho, Chief Investment Officer of Bridge Development and Opportunity Zones. “We are grateful for all of the support we received from residents, community leaders and elected officials. We look forward to continuing construction and turning our vision into reality.”
“We are pleased to have been involved in the financing of this game-changing development, which will help meet the demand for more housing opportunities in Hollywood as its strategic location continues to attract residents and businesses to the city,” said Steve Kohn, whose team advised BTI Partners on arranging the joint venture with Bridge as well as on securing the Construction Loan.
Young Circle & The New Hollywood Bread Building development is part of a new wave of commercial construction ramping up in Hollywood and brings a bright future to Downtown Hollywood while staying true to the vision of the City of Hollywood’s Founder, Joseph W. Young.