Related Group JV Breaks Ground on Hollywood Condo Towers
The groundbreaking follows a the developers' closing of a $360 million construction loan.
Related Group and BH Group have started construction on Icon Beach Waterfront Residences, a 350-unit condominium project in Hollywood, Fla.
The groundbreaking follows Tyko Capital’s $360 million construction loan origination for the project, which closed in April. Completion is scheduled for 2028.
Cohen Freedman Encinosa & Associates is the architect of record. Meyer Davis is serving as interior designer while Witkin Hults + Partners is the landscape architect. Sales at the property launched in 2024, with condo prices starting from $825,000.
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Icon Beach Waterfront Residences is a dual tower rising 38 stories at 3451 and 3690 S. Ocean Drive, along one of South Florida’s most sought-after coastlines. It’s close to Hollywood Beach, in an area with multiple retail and restaurant options. Fort Lauderdale-Hollywood International Airport is 9 miles away.
Residences will include one- to three-bedroom layouts ranging from 948 to 2,580 square feet. Interiors will have open floor plans, floor-to-ceiling glass, sliding doors, private terraces, walk-in closets, bathrooms with soaking tubs and kitchens with center islands.
Icon Beach Waterfront Residences will be anchored by a private 32-slip marina and a resident beach club. The property will include 40,000 square feet of amenity space which includes a swimming pool, private cabanas, a spa and wellness center, a 3,000-square-foot health club and yoga rooms. The property will feature outdoor amenities, including a yoga lawn, a cinema, summer kitchens, an event space, a lounge and a cocktail bar.
Developers push forward on condo projects in the area
Alongside the Miami condo market, the sector recorded notable development activity across South Florida, with recent projects currently in different stages of construction. In Palm Beach County, Catalfumo Cos. secured a $401 million first-mortgage completion-to-inventory loan for The Ritz-Carlton Residences, a 106-unit, three-tower project that’s been under development since 2024. It’s expected to reach completion this summer.
Earlier this month, a partnership between Growin Group and Property Pro Partners commenced construction on a 32-unit project in Aventura, Fla. The boutique luxury project is slated for completion in 2027.
