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Hollywood board OK’s Diplomat Landing project, three rental developments
BH, Related, Trinity plan 38-story condo tower, 43-story condo-hotel along Intracoastal Waterway
Related Group and BH Group’s plan for a pair of luxury towers adjacent to the Diplomat Beach Resort, as well as three multifamily proposals by other developers are a step closer to fruition.
The Hollywood Planning and Development Board approved the four projects on Tuesday.
In the biggest development, the Pérez family’s Related and the Toledano family’s BH want to build a 38-story condo tower with 350 units, and a 43-story condo-hotel with 500 keys. The 19-acre site at 3451-3690 South Ocean Drive, called Diplomat Landing, is along the Intracoastal Waterway and across the street from the Diplomat resort.
The pair of developers are partnering with the site’s owners on the project. In February, Honolulu-based Trinity Investments and Credit Suisse Management paid a combined $850 million for both the resort and Diplomat Landing site.
The project would be Miami-based Related and BH’s latest joint venture, as they have partnered on a string of South Florida development proposals. Their pipeline includes plans for a pair of 20-story apartment buildings with 424 units on a portion of Riviera Beach’s 90-acre Marina Village redevelopment site.
The Hollywood planning board also approved NuRock Properties’ affordable housing development in the Beverly Park neighborhood. The Alpharetta, Georgia-based firm plans the 10-story, 115-unit Residences at Beverly Park at 6015 Washington Street.
NuRock has the 1.8-acre site under contract for an undisclosed price.
Two other approved apartment projects are slated to rise on Lincoln Street.
Led by Isaac Khabie, Miami-based Ark Ventures plans a five-story, 48-unit building at 1935-1951 Lincoln Street. The project is called Lincoln Street Apartments.
Also, an entity led by Red Octopus Architecture plans a four-story building with 33 apartments, and a separate building with four two-story townhouses at 2327-2329 Lincoln Street.
The approvals come as developers have increasingly bet on Hollywood.
Boca Raton-based Mill Creek Residential Trust plans an eight-story, 395-unit apartment complex in downtown Hollywood. Called Modera Hollywood, the project would rise on 3 acres at 400 South Dixie Highway, 2200 Jackson Street, and 2110, 2117-2119, and 2120 Anton Terrace.
Also, affordable housing developer Housing Trust Group scored $61 million in construction financing for its proposed University Station project. The pair of eight-story buildings would have 216 apartments at below market rents along North 21st Avenue, between Fillmore and Polk streets.