Related Group and BH Group have officially broken ground on the Icon Beach Waterfront Residences, a 38-story luxury condominium project in Hollywood, Florida. Featuring 350 high-end residences, the development aims to capitalize on the city’s growing status as a premier coastal destination, with completion slated for 2028.
Key takeaways
- The project is a 38-story tower featuring 350 luxury residential units.
- Developers secured a $360 million construction loan from Tyko Capital to fund the project.
- Amenities include a 32-slip private marina, a beach club, and an outdoor cinema.
- Construction is expected to conclude in 2028.
A new era for Hollywood real estate
The groundbreaking of the Icon Beach Waterfront Residences marks a significant milestone in the ongoing revitalization of Hollywood, Florida. Long overshadowed by more established coastal neighbors, the city is now positioning itself as a hub for luxury living. Nick Pérez, president of Related Group’s condominium division, noted that the project reflects the city’s remarkable momentum and its appeal to buyers seeking an unparalleled waterfront lifestyle.
Resort-style amenities and design
Designed to offer a comprehensive living experience, the tower features an extensive array of amenities tailored to modern, luxury-seeking residents. Beyond the 32-slip private marina and exclusive beach club, the property includes a fully equipped health club, a expansive pool deck, and summer kitchens. For social gatherings, residents can utilize a reservable event space that offers scenic views of the Intracoastal Waterway, alongside an outdoor cinema for entertainment.
Financial backing and project timeline
To support the ambitious scale of the development, the project recently secured a $360 million construction loan from Tyko Capital. This substantial financial commitment underscores investor confidence in the Hollywood market. With the foundation work now underway, the development team is focused on a multi-year construction schedule, with the building expected to reach completion by 2028.