Related Group and BH Group have successfully secured a substantial $360 million construction loan for their upcoming condominium development, Icon Beach Waterfront Residences. This significant funding, provided by Tyko Capital, will fuel the creation of a 350-unit, dual-tower project located in Hollywood, Florida. The development is poised to break ground in May 2026, with an anticipated delivery in 2028.
Key Takeaways
- A $360 million construction loan has been secured for Icon Beach Waterfront Residences.
- The project involves a partnership between Related Group and BH Group.
- The development will feature 350 units across two oceanfront towers in Hollywood, Florida.
- Groundbreaking is scheduled for May 2026, with completion expected in 2028.
- Sales for Icon Beach launched in 2024, with unit prices ranging from $825,000 to $2.8 million.
Icon Beach Waterfront Residences Details
Icon Beach Waterfront Residences will comprise two 38-story oceanfront towers, offering a total of 350 residential units. These residences will feature one- to three-bedroom layouts, with interior spaces ranging from 948 to 2,580 square feet. The development is designed to provide a blend of residential privacy and fully serviced living, drawing inspiration from the trend of hotel-branded apartments.
Extensive Amenities and Design
The project boasts an impressive 40,000 square feet dedicated to amenities. Residents will have access to a resort-style pool, a spa, private cabanas, a hot tub, and a cold plunge. Additional outdoor amenities include a shared cinema garden, summer kitchens, and event spaces. The development will also offer 24-hour concierge services, valet parking, and on-site security staff. The architectural design is by Cohen Freedman Encinosa & Associates, with interiors curated by Meyer Davis and landscape architecture by Witkin Hults + Partners.
Strategic Location
Located at 3451 and 3690 S. Ocean Drive, Icon Beach is strategically positioned approximately 12 miles south of downtown Fort Lauderdale and 21 miles north of downtown Miami. The site offers convenient access to local attractions, including golf courses, shopping centers like Diplomat Mall and Hallandale, and essential services.
Recent Developments by the Partnership
This is not the first major project for the Related Group and BH Group partnership. Last month, they also secured a $200 million construction loan for the Ritz-Carlton Residences in West Palm Beach, Florida. Similar to Icon Beach, the Ritz-Carlton Residences are slated for delivery in 2028, with groundbreaking already underway in February 2026.