Related Group and BH Collaborate on $50M Hilton-Branded Hotel Adjacent to Diplomat Beach Resort

Proposed 42-Story tower with 500 Rooms or Condo-Hotel Units to Grace Hollywood
Hollywood welcomes an impressive addition to its skyline as the Related Group and BH Group join forces to propose a striking 42-story tower in the city’s heart. The ambitious project, located at 3451 to 3690 South Ocean Drive, adjacent to the renowned Diplomat Beach Resort, aims to offer either 500 rooms or condo-hotel units, with an estimated cost of $50 million. The developers have yet to determine whether the tower will function solely as a hotel or incorporate a combination of hotel and condominium elements.
The planned tower will occupy one of two vacant parcels nestled between two parking garages that feature ground-floor retail spaces. Its construction will complement the 1,000-room Diplomat, enhancing the area’s allure. In a significant acquisition earlier this year, Trinity Investments, a real estate investment firm based in Honolulu, and Credit Suisse Asset Management secured the oceanfront luxury resort, the garages, and the development sites for a staggering $850 million.
To bring their vision to life, Trinity and Credit Suisse have partnered with Related, headquartered in Coconut Grove, and BH, based in Aventura. This collaboration aims to realize the Hilton-branded project and construct a 38-story condominium offering 350 units on the adjacent vacant parcel. Spanning an expansive 8 acres, the development sites and garages face the picturesque Intracoastal Waterway.
The Hollywood Technical Advisory Committee will review the plans for the Hilton-branded hotel next week. The proposed hotel will encompass 65,000 square feet of parking space, as outlined in the site plan and city documents. The esteemed project architect, Miami Lakes-based Cohen Freedman Encinosa & Associates, has been entrusted with bringing this architectural marvel to fruition. The rooms or units within the tower will range from 590 square feet to 1,275 square feet, offering a mix of one- and two-bedroom suites.
The partnership between Related, helmed by Chairman Jorge Pérez, and BH Group, led by Liat and Isaac Toledano, is not limited to this ambitious Hollywood project. They have recently obtained approval from the North Miami City Council to redevelop the White House Inn, a shuttered two-story hotel on a 1-acre development site at 2305 Northeast 123rd Street. The joint venture plans to replace the existing structure with Icon Residences, a 10-story condominium boasting 53 units and 114 parking spaces.
Furthermore, in April, Related and BH acquired an empty office building in Plantation for $13 million. This strategically located property has received city approval for redevelopment into a mixed-use project. The two firms are also collaborating on developing Icon Aventura, a remarkable 26-story tower occupying 4 acres in Aventura. Icon Aventura will feature 308 apartments, 12,000 square feet of ground-floor retail space, and an accompanying garage.
With their shared vision and impressive track records, the partnership between Related and BH Group promises to leave an indelible mark on the South Florida real estate landscape. These ventures embody the collective pursuit of architectural excellence and innovative design, propelling the region’s development forward.