MIAMI-The $170 million Ocean Palms condominium, retail, restaurant and parking garage project proposed for Hollywood is one step closer to reality. The development will face key approvals Oct. 16.

The project, which has had no trouble getting necessary approvals thus far, would be built in two phases, separated by State Road A1A, according to plans filed with the city.

Phase I, consisting of the 250-unit Ocean Palms Condominium, would be built on the five-acre east, oceanfront property at 3101 S. Ocean Drive. The building would be built in three tiers: 38 stories, 35 stories and 32 stories. Condo unit prices would start at $450,000.

According to the developer’s application to the city, the value of improvement for Phase I is $75 million.

The second phase, across the street at 3100 S. Ocean Drive, would consist of a six-story building with 12,000 sf of retail space, 7,000 sf of restaurant space and a 332-space parking garage.

The city of Hollywood’s Development Review Board conditionally approved the design and the site plan of the project Oct. 10. Hollywood City Commission votes on the project Oct. 16.

The Plaza Group of Fort Lauderdale, FL is the project’s developer. Plaza Group built the 30-story Palms I in 1997 and the 32-story Palms II in 2001, both in Fort Lauderdale.

The architecture firm for the Hollywood project is Fullerton Diaz Architects Inc., based in Coral Gables, FL. According to the project application to the city, Phase I is scheduled to be completed in January 2006. Phase II completion is set for January 2007.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.



Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2023 ALM Global, LLC. All Rights Reserved.