Hollywood?? Not sure.. (Miami, Fort Lauderdale, Miami Beach: budget, condos, rent)

[whitlyn182]

Hey- My boyfriend and I are thinking of opening a business in downtown Hollywood. Can anyone give me more info?? I am wondering:

-How is the crime?
-Is there a lot of tourism?
-Is there a nightlife?
-Would two 20 somethings be happy and entertained here?
-Is rent reasonable?


Any other pro/cons would be appreciated. We are looking at three locations spread out thru the US and it's hard enough trying to compare them!! Thanks a bunch.

[fauve]

Yes/positive response to all of the above.

However, the entire region down here is feeling the effects of the downturn in the economy to a great degree. If it were to worsen, crime and declining tourism may become more of an issue. Proceed cautiously.

[Lost in Translation]

I work in downtown Hollywood, so I'll give you my perception of things as I see them on a daily basis.

-How is the crime?
There is quite a bit of crime surrounding the area, mostly burglaries. If you venture out into the neighboring streets away from the Dowtown core, it can get quite sketchy. In fact, an Italian taxi driver was murdered a few blocks away a couple of months ago, and another man recently killed not too far away while working on his truck. Crime against business is spotty, with the local banks getting hit quite a bit lately as well as restaurants (e.g., a diner was robbed at gunpoint about a year ago, customers included). There are many 'iffy' looking people walking around in the daytime, and it's almost a ghost town during work hours. My two cents: I would not own a business or live in this area. I say that with a lot of hesitation because I really like Downtown Hollywood.

-Is there a lot of tourism?
Not really. Mostly locals frequent the area, but I do see a lot of French Canadians here for some reason.

-Is there a nightlife?
Big time. The place really explodes in the evening and on the weekend.

-Would two 20 somethings be happy and entertained here?
I think it's too small to actually want to reside here. Downtown Hollywood is cool, but it's small and cramped and after six months you would get bored IMO.

-Is rent reasonable?
Yes - but a lot of condos are empty. There was a lot of speculation that people would flock here once the downtown developed, but it hasn't happened and a lot of residential buildings are vacant.

One last observation - if you do decide to open a business here, you'll be better off doing food or drink service. I've only seen a few restaurants close down here in the last couple of years, but I've seen dozens, I mean dozens of boutiques and small shops go bust. Just so you know.

Good luck!

[vvolin]

Yes, there is crime. A friend of mine was attacked in my neighborhood a month ago and has recently died.
There is tourism during season, but it is a relatively "poor" tourism, many French Canadians, many older guys on a budget.
There is nightlife, although it does not compare with Fort Lduerdale, where the night life is more targeted towards young crowds. However, remember that downtown Hollywood is 20 minutes from downtown Fort Lauderdale, 25 to 30 minutes from Miami Beach. The distance effect is very well balanced by the slightly cheaper rents and house values (on average) than FTL and MB.

[carlent]

we lived in downtown Hollywood for two years recently. I think the town is very desireable. If yo are looking for a medium sized city (150,00) with a solid downtown , with good restaurants and some good bars and cafe's, then you would like it in Hollywood. True, the streets are not filled with epople during the day but after dark it is a very "hip" place to be. Many good clubs and music venue's)
Hollywood Beach and it broadwalk (boardwalk) is terific. All new, redeveloped...clean and fun and tons of bars, restaurant right on the broadwalk, right basically on the sand. Lots of young people from all over the world and easy to met people. good benches for people watching....and it si about 6 miles long and you can walk, bike and blade in your own lane while the walkers stroll in their own land. It is really cool. The beach is clean, great sand and deep. Not much trouble and a high level police presence. i have always found it safe and not at all iffy.
Also, it is a 12 month a year deal. it is also busy in the summer...not like the winter for sure, but busy. Downtown Hollywood and the beach are about 2 miles apart and a good walk , an easy bike ride or a couple of min on the city bus. By the way, public transportation is very good and the bus system is clean, and they keep on a tight schedule. Many people ride the bus in Hollywood.
If you do a lot of research.....opening a business will be ok but it really depends on what type of business you are thinking of. Lots of restaurants,pubs there now so just be careful and do your due diligence
Hope some of this is a help....good Luck

[MyKindOfTown]

If you believe SoFla is still an ever expanding population/economic hub-the jury is out- then DT Hollywood will be an emerging beneficiary. Hollywood is an under valued asset. Downtown BOOMS at night with crowded cafés and sidewalk eating/drinking. The area east of downtown (from US1 to the ICW) has some of the prettiest residential streets in SoFla. Unfortunately it gets pretty sketchy in the area immediately next to DT. Hollywood defines the word transitional...

[Hollywood G Man]

Originally Posted by whitlyn182

Hey- My boyfriend and I are thinking of opening a business in downtown Hollywood. Can anyone give me more info?? I am wondering:

-How is the crime?
-Is there a lot of tourism?
-Is there a nightlife?
-Would two 20 somethings be happy and entertained here?
-Is rent reasonable?


Any other pro/cons would be appreciated. We are looking at three locations spread out thru the US and it's hard enough trying to compare them!! Thanks a bunch.

Know what? Go for it! Hollywood is a better bet than any city north or south of us. Go there, and you have the ultimate battle with competition. Go to Hollywood... well... there's gonna be competition. But you won't have to capitalize a new business like you would "there" on the onset, and the benefits for just doing it right will be outright megagreat. do your homework. keep looking. Keep second guessing. just don't freeze for too long. now is a great time!