MIAMI—Margaritaville Hollywood Beach Resort is one step closer to rising from the dirt in Hollywood, FL. Coastal Construction and Tishman Construction, an AECOM company, have formed a joint venture to build the new hotel and entertainment complex.

And this is just the beginning. The firms say this JV marks the launch of a new strategic alliance that will team up to build other projects in South Florida.

“We have been working with Tishman for some time, and the Margaritaville project was the catalyst to announce our partnership,” says Tom Murphy Jr., chairman and CEO of Coastal. “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.”