Coastal Construction and Tishman Construction joint venture to build new hotel resort complex in Hollywood, FL

A joint venture between Coastal Construction and Tishman Construction, an AECOM company, has been selected to manage the construction of the Margaritaville Hollywood Beach Resort, a new hotel and entertainment complex. This project signifies the launch of a new strategic alliance between two of the nation's leading builders that will focus on delivering extraordinary developments throughout South Florida. The Coastal-Tishman team has more than 150 combined years of construction experience, offering clients the unparalleled resources of one of the largest contractors in the Southeast along with the world-class builder of iconic themed hotels and resorts. "We have been working with Tishman for some time, and the Margaritaville project was the catalyst to announce our partnership. There are great synergies between our two companies, including our mutual track records for creating hotels, resorts and multi-family residential projects of distinction, but more importantly, our shared values and company culture. We are excited about our alliance and the privilege to build this one-of-a-kind resort for Lon Tabatchnick and for the City of Hollywood," said Tom Murphy Jr., chairman and CEO of Coastal Construction Group. "Tishman is thrilled to be partnering with Coastal in South Florida as we bring our company's history of success to new regions," said Daniel McQuade, chief executive of Tishman Construction and AECOM's construction services practice. "Our firms have collectively built more than 200 hospitality projects and over 20,000 hotel rooms. Together, we now look forward to working with Margaritaville Hollywood Beach Resort to realize its vision for the City of Hollywood." Developed by Margaritaville Hollywood Beach Resort LP, the Adache Group Architects-designed Margaritaville resort development comprises 845,000 s/f, featuring a 17-story, 349-key hotel, restaurants, bars and retail space. Additionally, the 5-acre site includes a new 1,056-car garage, refurbished band shell, public restrooms, a water park and boat docks along the Intracoastal Waterway. The Hollywood City Commission approved the resort project on May 29. "We look forward to bringing Margaritaville to the Hollywood Beach community," said Lon Tabatchnick, president of The Lojeta Group. "With a unique combination of local experience and industry expertise, the Coastal-Tishman team is absolutely the right builder for this project." An official groundbreaking will take place on August 22 with the completion expected in 2015.