Bahia Mar Presents Large Expansion Plan to City of Fort Lauderdale

Talk about a huge expansion plan!

Bahia Mar Resort and Marina has been known for the Marina, and being the home of the Fort Lauderdale Boat Show, the largest in the world.

Its new owners have submitted to the Development Review Commission their plans, prior to the formal meeting scheduled for July 14.

 

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Bahia Mar Aerial View

In essence, it is a 2.4 Million Sq. Ft. expansion.

The existing hotel owns at the present time a well-known marina, alongside the Intracoastal, and across the street from the Beach. The property was acquired with its lease on the 39 acre site about a year ago by a partnership between Rok Acquisition, Tate Capital, Rialto Capital Management and RCI Marine.  It will operate under TRR BAHIA MAR LLC.

The proposal includes three condominium buildings, new hotel rooms, new retail stores, restaurants, and similar venues.

About half of the total project area is dedicated to residential real estate, mainly 625 condo units.

Parking space will take a large part of the new space.

The existing hotel, presently at 154,411 square feet and 188 rooms, would be totally renovated.

The 115 hotel rooms now at the south end of the property  will be demolished and replaced by condo units.

In essence, the buildings included in the expansion proposal are:

  • A 5-story hotel extension with 209,150 new square feet, with 48 hotel rooms, 25,551 square feet of retail/grocery along a pedestrian promenade, and a pool deck.
  • A 39-story north condo tower including 256 units totaling 506,087 square feet, 6,120 square feet of office and 11,102 square feet of restaurants.
  • A 39-story south condo tower  including 269 units totaling 507,641 square feet and 22,026 square feet of retail.
  • A 5-story west residential building with a total of 464,589 sq. ft. It includes 100 residential units with 218,127 sq. ft. , a parking garage for the boat show, Office space totaling 35,000 square feet, and a 17,125 sq. ft.  fitness center.
  • The SW  building with 12,130 sq. ft. of restaurant space, including an office for the captain’s quarters.
  • The NW building with 7,374 sq. ft. of restaurants space.
  • The 4,600-sq. ft.”fishing village”, with retail and outdoor dining.
  • Condo units will rangebetween 850 and 2,807 sq. ft. and penthouses between 4,175 sq. ft. and 4,847 sq. ft .

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Projected New Bahia Mar Restaurant Building

 

A total of 2,194 parking spaces are provided for in the proposal.

We read in the South Florida Business Journal on July8th, 2015 that:

Tate said the goal of the design is to engage the public with Bahia Mar, which is on city lease. The 18-foot-side pedestrian walkway would invite people to walk along the water and shop at kiosks, such as coffee and juice retailers. The village area will have entertainment space.

Tate said he plans to have a grocery store on the property so beach residents don’t need to cross the bridge to the mainland for their shopping. As far as transportation, Tate said Bahia Mar would have three trolley stops and two water taxi stations.

“The condo users will be empty nesters or second home buyers who don’t really drive during peak hours,” Tate said.

Tate said the timing of the development depends on market conditions, especially absorption in the condo market.

“The marine industry is the epicenter of commerce for Broward and Fort Lauderdale and we need to do everything in our power to make sure it remains here,” said Jimmy Tate, head of Tate Capital. “We need to make sure the boat show has the best experience in the world and we give them a best-in-class facility.”
Instead of being held in tents, the boat show’s indoor exhibition space would move inside a parking garage that would be transformed for the show. It would have a 16-foot ceiling with special lighting and two atriums. Working with boat show operator Show Management, Tate said they developed a more fluid plan that will make the event easier to navigate.
Bahia Mar would join a host of new condo towers on Fort Lauderdale beach and many local realtors say the market has been strong.
Tate said the timing of the development depends on market conditions, especially absorption in the condo market.

“The marine industry is the epicenter of commerce for Broward and Fort Lauderdale and we need to do everything in our power to make sure it remains here,” said Jimmy Tate, head of Tate Capital. “We need to make sure the boat show has the best experience in the world and we give them a best-in-class facility.”

Instead of being held in tents, the boat show’s indoor exhibition space would move inside a parking garage that would be transformed for the show. It would have a 16-foot ceiling with special lighting and two atriums. Working with boat show operator Show Management, Tate said they developed a more fluid plan that will make the event easier to navigate.

 

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Projected New Bahia Mar Promenade  

 

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Bahia Mar -Projected North Tower on Seebreeze Blvd. 

 

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Projected Bahia Mar North Tower

 

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NW Restaurants Building

 

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The new Bahia Mar Projected Site Plan

For information about Fort Lauderdale New Construction, please call me

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