BH Group and Prime Group now plan a hotel on a Hallandale Beach development site where the joint venture previously envisioned a condo-hotel.
The joint venture recently submitted a site plan to the city of Hallandale Beach for a 15-story building with 246 hotel rooms, 281 parking spaces and a public plaza at 804 South Federal Highway, according to city records. The project is being designed by Hollywood-based Prime Design Associates.
Aventura-based BH, led by Isaac and Liat Toledano, and Hollywood-based Prime, led by Larry Abbo, switched out an earlier site plan for a 14-story building with 138 condo-hotel units, 60 standard hotel rooms and 4,000 square feet of retail space.
Isaac Toledano said via email that the joint venture decided to build a full hotel because Prime has more experience building hotels. BH and Prime have not reached any agreements with hotel brands, but “we hope to make a decision soon,” he added.
In May, BH and Prime paid $6.5 million for the 0.8-acre vacant lot and partially financed the purchase with a $3.5 million mortgage from Centennial Bank.
The joint venture is seeking approval from the city of Hallandale Beach to allow the construction of a 15-story building where heights are capped at 14 stories, a letter of intent states. In exchange, BH and Prime will agree that 7.5 percent of the development site will be a dedicated open civic space. They will also pay for streetscape improvements and will conceal the parking areas at sidewalk level.
The joint venture is also seeking permission to build a mechanical parking lift for 40 valet parking spaces, the letter states.
The planned Hallandale Beach hotel is among several projects BH has in the pipeline. Last month, BH and its partners, Coconut Grove-based Related Group and billionaire Teddy Sagi, scored a $400 million construction loan to build Residences at Six Fisher Island, a 10-story boutique condominium with 50 units on Fisher Island. The partnership plans to complete the project in 2026.
In April, BH and Delray Beach-based Kolter Urban launched sales for Solana Bay, a planned waterfront 10-story condominium with 52 units in North Miami.