A $2-billion development, it is expected to transform the world-famous Bahia Mar marina in Fort Lauderdale into a destination that might just bring the city such merits as becoming a Mini Monaco. Led by a development team consisting of Related Group, Rok Acquisitions, and Tate Capital, a project featuring luxury hotel and condo towers, a beach club with high-end restaurants, retail, and more will be completed.
The mixed-use development will be spread over about 40 acres of land and water. The project would comprise a new 200-room hotel with the St. Regis flag, substituting DoubleTree’s hotel, several condominium towers, as well as 88,000 square feet of commercial waterfront space which will comprise restaurants, facilities for boat docking, and a public park along the Intracoastal Waterway. A 25-foot-wide pedestrian promenade will make the place more beautiful, and slips for the marina will be prepared for yachts of all sizes, such as those 350 feet in length. Nick Perez, president of Related Group’s condominium division, maintained that a luxury destination providing the ambiance of Monaco would have to happen in South Florida. “The region has deep-water marina and great dining so a five-star resort, which would be the first of this type in this part of the state, can fully offer something for all,” he said.
The Bahia Mar marina, one of the main attractions for Fort Lauderdale’s high-class yacht events, including the Fort Lauderdale International Boat Show, is going to be an exciting high-class community for local and international consumers. Since 65% of foreign visitors attend the boat show, the development is likely to attract all the global owners and enthusiasts for yachts.
The project also follows years of challenges, including opposition from local residents and officials concerned about its scale. As a result, the developers scaled back their plans to include more public amenities and minimize the project’s footprint.
Scheduled for completion in late 2029, the luxury residences will start at $4.4 million, with Douglas Elliman handling marketing for the condos.
