HOLLYWOOD, FL | Diplomat Landing | 3451-3690 South Ocean Drive | 419 FT | 37 FLOORS

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Related Group And BH Group Request Approval For 419-Foot-Tall ‘Diplomat Landing’ Residential Tower In Hollywood, FL

Related Group, a Miami-based real estate developer, and Aventura-based BH Group, a Miami-based private investment, and real estate company, under the Landings Venture LLC, have submitted a preliminary application to the City of Hollywood’s Technical Advisory Committee (TAC) for a 37-story residential building at 3451-3690 South Ocean Drive. Dubbed Diplomat Landing, the proposed development, designed by Cohen Freedman Encinosa & Associates (CFE Architects) and featuring landscape architecture by Witkin Hults + Partners and civil engineering by Kimley-Horn, would span 685,264 gross square feet and include 350 residential units. The 419-foot-tall structure would be linked to an existing parking garage to the north, adding 110 spaces for 705 parking spots. The Hollywood TAC is set to review the proposal on April 3, 2023.

In February, the 37-story resort hotel and convention center was purchased for $850 million by Trinity Investments, based in Honolulu, and Credit Suisse Asset Management. Following the acquisition, the buyers agreed with Related Group and BH Group to collaboratively develop the property’s west side adjacent to the Intracoastal Waterway. To finalize the purchase of the development site at 3451 South Ocean Drive, the developers established the entity Landings Venture LLC.

The architectural details of the project are designed to complement the building’s mass and create a residential southwestern extension of the existing Diplomat Hotel. The design emphasizes aesthetic quality by maximizing the visibility of both the Intracoastal Waterway and the Atlantic Ocean for residents and incorporating substantial glazing. The proposed development aims for a harmonious relationship with the existing architectural language within the Diplomat Activity Center, appearing as a projection from the current hotel. Furthermore, the residential development aligns with the land use designation for the property, which supports a 350-unit multifamily residential development.

The residential offerings in the building would feature townhouses on the ground floor, spanning from 1,850 to 2,350 square feet, and regular residential units ranging from 850 to 1,750 square feet. A third-level amenity deck would boast a pool, 14 cabanas, a business center, a spa, a pickleball court, a health club, a club room, and a lounge.

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FLYIMBY

[ryan1]

https://therealdeal.com/miami/2023/1...ings-dev-site/

Related, BH pay $22M for second Diplomat Landings dev site in Hollywood
Joint venture is planning a 500-unit condo-hotel adjacent to Diplomat Beach Resort

Francisco Alvarado
Related, BH Pay $22M For Second Diplomat Landings Dev Site
Related Group’s Jorge, Nick and John Paul Pérez; BH’s Isaac and Liat Toledano and a rendering of condo and condo-hotel projects at Diplomat Landing (CFE Architects)
Related Group and BH Group are in full control of two waterfront development sites in Hollywood, after paying $21.5 million for the second parcel.

The joint venture acquired a 5-acre site at 3451 South Ocean Drive, adjacent to the oceanfront Diplomat Beach Resort, according to a source familiar with the deal.

The purchase also includes a marina and 62,000 square feet of existing retail space on the ground floor of two interconnected garages known as Diplomat Landings. The garages are next to the development sites along the Intracoastal Waterway.

Jaret Turkell and Omar Morales with Berkadia represented the seller, a joint venture between Honolulu-based Trinity Investments and Credit Suisse, which owns the 1,000-room resort at 3555 South Ocean Drive and the garages.

Coconut Grove-based Related, led by Jorge Pérez and his sons Nick and Jon Paul, and Aventura-based BH, led by Liat and Isaac Toledano, are proposing a Hilton-branded, 42-story tower with 500 condo-hotel units on the 5-acre site. Rooms/units would range from 590 square feet to 1,275 square feet, representing a mix of one- and two-bedroom suites.

In August, Related and BH paid $30 million for the other site where the partnership is planning a 38-story high-rise with 350 condos. That parcel is at 3210 South Ocean Drive. The same month, the Hollywood City Commission approved a site plan for the condo project, as well as an amended master plan for the two proposed developments.

In February, Trinity and Credit Suisse bought the Diplomat Beach Resort and the Diplomat Landings assemblage for $835 million, marking the largest hotel deal of 2023.

Related and BH are partnering on several South Florida projects. In September, the two firms joined forces with Boca Raton-based Pebb Enterprises to acquire Ocean Walk on Singer Island. The trio paid $19.2 million for the ground lease on the 10.5-acre oceanfront retail plaza.

Related and BH are also co-developing a nine-building multifamily and retail complex in Plantation; as well as Icon Aventura, a 26-story mixed-use tower in Aventura that will have 275 condos, 20 workforce apartments and 12,000 square feet of retail.