Perez’s Related to Join Group Developing Florida Yacht Show Site
Plans for the redeveloped Bahia Mar site include a luxury hotel and resort as well as 245 slips for boats in the marina.
Related Group, the real estate firm led by billionaire Jorge Perez, is joining a project to redevelop the site of the Fort Lauderdale International Boat Show into a $1 billion-plus luxury complex with apartments and a hotel.
Miami-based Related will partner with Tate Capital and Rok Enterprises Inc. to build a 16-acre (6-hectare) development on a waterfront site anchored by a hotel and resort that has 256 guest rooms and 60 rental apartments, according to a statement Thursday. The hotel brand has not been selected yet and the new complex will replace the existing DoubleTree hotel on the site and a giant parking lot.
The Bahia Mar complex will also have 350 condo units across four towers and roughly 87,000 square feet (8,000 square meters) of commercial space that includes offices, restaurants and stores. Sales for the condos are expected to begin at the Fort Lauderdale boat show next year, said Jon Paul Perez, president of Related.
“This will be our largest selling project for Related probably to date,” Perez said.
The entire Bahia Mar site spans nearly 40 acres and hosts one of the world’s largest boat and yacht shows at a riverfront marina. The land is owned by the city of Fort Lauderdale, which leased out the site to the developers.