A rendering of the proposed towers at the Diplomat Landings site with Trinity CEO Sean Hehir, BH Group’s Isaac Toledano and Related CEO Jorge Pérez (CFE Architects, Wikipedia, LinkedIn)
Related Group and BH Group’s latest project entails building a pair of luxury high-rises adjacent to the Diplomat Beach Resort in Hollywood.
The joint venture on Friday submitted a site plan application with the city of Hollywood to build a 38-story condominium with 350 units, and a 43-story condo-hotel with 500 units. The two-tower project would rise on a pair of vacant parcels between two parking garages with ground-floor retail at 3210 – 3690 South Ocean Drive.
Neither of the proposed buildings is yet named. Miami-based CFE Architects is designing the two skyscrapers, which would have views of the Intracoastal Waterway.
Related and BH are partnering with Honolulu-based Trinity Investments and Credit Suisse Management, the new owners of the 8-acre site known as Diplomat Landings, according to a source close to one of the developers. Spokespeople for Related and BH declined comment.
Last month, Trinity and Credit Suisse paid $466 million for the 1,000-room Diplomat Beach Resort at 3555 South Ocean Drive, and paid $69 million for Diplomat Landings, records show. The real estate was part of the overall $850 million purchase of the luxury hotel and its operations.
The landmark oceanfront property and the adjacent parcels hit the market for $1 billion in 2019, two years after the previous owner, Brookfield Properties, completed a $100 million renovation of the Diplomat.
After reported deals with Aventura-based developer Jeffrey Soffer fell through, Trinity went under contract last year.
Aventura-based BH Group, led by Isaac Toledano, is teaming up with Related Group, the Miami development firm founded by CEO Jorge Pérez, on a slew of South Florida projects. The joint venture recently submitted a site plan for Icon Aventura, a planned mixed-use project anchored by 208 apartments in Aventura. City officials are seeking to set aside 51 units at below-market rates for police officers and teachers in Aventura. In exchange, BH and Related would get additional density for Icon Aventura.
Related and BH are also negotiating a letter of intent with the Riviera Beach Community Redevelopment Agency to build an affordable housing multifamily project in Marina Village in Riviera Beach.
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Related Group and BH Group’s latest project entails building a pair of luxury high-rises adjacent to the Diplomat Beach Resort in Hollywood. The joint venture on Friday submitted a site plan application with the city of Hollywood to build a 38-story condominium with 350 units, and a 43-story condo-hotel with 500 units. The two-tower project
The post Related, BH submit plans for two-tower project near Diplomat resort appeared first on The Real Deal. Uncategorized, Hollywood, Hotels The Real Deal
Lead by real estate veteran Robert Khodadadian, Skyline Properties has been instrumental in many multi-million dollar commercial developments, including a $12 million contract for the White House Hotel, a 99-year ground lease of a four-story commercial site in Harlem, and a retail co-op on Prince St. for $50 million.
Robert Khodadadian has long had a simple philosophy about selling real estate. There are approximately a million buildings in the city, and the broker that gets to sell any one among the multitude that will hit the auctioning block at a given moment is, sometimes, simply the person who happens to pitch their services to the right seller.