Trinity, BH, Related’s Diplomat Landing Project Heads to Vote

Developers are betting on Hollywood’s multifamily and luxury condominium markets.

Three apartment projects that would collectively add nearly 90 units to the city’s rental stock, as well as a two-tower luxury condo and condo-hotel development adjacent to the Diplomat Beach Resort are pending approval by city officials. The Hollywood Planning and Development Board is set to vote on the four projects at its Tuesday meeting.

Here’s what’s proposed:

Diplomat Landing

The Pérez family’s Related Group and the Toledano family’s BH Group want to build a 38-story condo tower with 350 units, and a 43-story condo-hotel with 500 keys across the street from the Diplomat Beach Resort.

The project would rise on a 19-acre site known as Diplomat Landing at 3451-3690 South Ocean Drive, fronting the Intracoastal Waterway.

Related and BH are partnering with Trinity Investments and Credit Suisse Management, which own both the resort and the Diplomat Landing site, sources have previously confirmed to The Real Deal. Trinity, based in Honolulu, and Credit Suisse paid a combined $850 million for the properties, as well as for the hotel operations, in February.

An entity tied to Trinity is asking the city’s planning board to amend Diplomat Landing’s master development plan to allow for the condo and the condo-hotel towers. The development plan is a guide of sorts dictating how the site should be built out.

Residences at Beverly Park

NuRock Properties wants to build an affordable apartment project in Hollywood’s Beverly Park neighborhood.

The Alpharetta, Georgia-based development firm proposes a 10-story building with 115 rental units and 750 square feet of retail on a 1.8-acre site at 6015 Washington Street, according to the planning board’s agenda. The project, called Residences at Beverly Park, would consist of 17 one-bedroom apartments, 69 two-bedroom units and 23 three-bedroom units.

NuRock is under contract to purchase the development site for an undisclosed price. It is currently home to a two-story office building and a parking lot.

In December, Hollywood city commissioners backed NuRock’s proposal over a competing one by Housing Trust Group for a 100-unit low-income apartment development in the city’s downtown. Commissioners voted to lend NuRock $640,000 toward the firm’s application to Florida Housing Finance Corporation for federal low-income housing tax credits that would be used to bankroll the project.

On Tuesday, the planning board will vote on the project’s design and site plan.

Lincoln Street Apartments

An affiliate of Miami-based Ark Ventures proposes a 48-unit apartment building.

The project, called Lincoln Street Apartments, would consist of a five-story building on a 0.6-acre site at 1935-1951 Lincoln Street, according to the planning board’s agenda. The apartments would break down to 36 one-bedroom units and 12 two-bedroom units.

Ark Ventures, led by founder Isaac Khabie, is asking the city for design and site plan approval.

Lincoln Village

In the smallest project up for a vote, the board will consider a proposal for a 37-unit apartment development.

An entity that ties to Weston-based Red Octopus Architecture, led by Argentine architects Yanina Mauro and Walter Rua, wants to build a four-story building with 33 apartments, and a separate building with four two-story townhouses, according to state records and the planning board’s agenda. The project would rise on 0.6 acres at 2327-2329 Lincoln Street.

The developer is seeking design and site plan approval.