Bahia Mar overhaul plans take step forward

Posted on

The $250 million plan to redevelop Fort Lauderdale’s Bahia Mar hotel and marina complex on the beach took a major step toward reality.

City commissioners gave initial approval to design plans that include a new five-star Waldorf-Astoria, a renovated Bahia Mar hotel, a waterfront park and a permanent home for the annual Fort Lauderdale International Boat Show. The developers still must negotiate details of a long-term lease for the prime city-owned property, the Sun-Sentinel newspaper reported.

The decision came even though commissioners at the same time placed a temporary ban on the use of controversial land-use regulations at the heart of the Bahia Mar project.

A little more than an acre of property along the Intracoastal Waterway would be set aside for a park. It would be bordered by a 20-foot-wide promenade. In addition, the Bahia Mar developers would pay for a beach community center, a police command center, a trolley stop and the boat show improvements.

After the rezoning is completed, the next hurdle for the project is the lease.

The developers have wanted a 100-year lease, but the city charter says that the Bahia Mar cannot be leased for more than 50 years without competitive bids. To get around the restriction, lawyers for the city and the developers plan to draw up a 50-year lease that would be followed by a second 50-year lease, according to the report.

They also will have to negotiate a deal with the boat show — an important consideration for city leaders.

The boat show has been held at the Bahia Mar since 1976, and it pumps more than $500 million a year into the local economy.

The developers want to finalize the lease and boat show deal by late summer and want to start construction within two years and finish the work by 2016.

Click here for the full article.

Welcome to TradeOnlyToday’s premium content! To continue reading, please register now, for access to 10 free stories per month. Or subscribe, for unlimited access to all TradeOnlyToday content!

Click here to Register ... it's free!

Basic subscription: Registered members get free access to 10 premium content stories each month!

Not a member yet? Click here to Register!

Already a member? Click here to Login!

Subscribe ... for unlimited access!

Individual subscription: $29 for unlimited site access for one year.

Small Business subscription: $140 for unlimited site access for up to 10 members of a company for one year.

Corporate subscription: $300 for unlimited site access for all members of a company for one year.

You may close this dialog after seconds.

Comments

2 comments on “Bahia Mar overhaul plans take step forward

  1. Les Stowe

    I started staying at Bahia Mar Marina in the early 1970’s – during the Southern Ocean Racing Conf. – SORC’s. We had a great time and the people at the Marina were really nice to work with.. I have attended a few Ft. Laud. Boat Shows, and they work really hard to put on a Great Show.. The City should be really happy to have the Bahia Mar as the Heart of the Show, and should support them in ALL their programs.. Good Luck Bahia Mar… You have a very fond place in my heart.
    thank you,
    Les Stowe
    Hemet, CA.

Leave a Reply

Your email address will not be published. Required fields are marked *

Comments are moderated and generally will be posted if they are on-topic and not abusive. For more information, please see our Comments Policy.

Vote Today

Did 2014 meet your sales expectations?

View Results

Loading ... Loading ...

Search Boats for Sale

Length
Year
Price

Login to Trade Only Today

Lost Password