Developer's hopes rise for Bahia Mar overhaul
Three years after the development group LXR Luxury Resorts & Hotels drew up a $500 million proposal to redevelop the shopworn and underused Bahia Mar property on the Intracoastal Waterway, it appears likely the enormous project, called Bahia Mar Park, will happen.
“We’re going to get it built,” LXR Vice President Peter Henn told a crowd of about 40 people at a Central Beach Alliance meeting in Fort Lauderdale recently.
Henn said the project is ready to go forward for another appearance before the City Commission, which would likely have to wait until February, seeking approval that would bring the project closer to breaking ground. Although the city owns the Bahia Mar land, LXR has a lease on the property.
“It’s a matter of how much more money the city can get,” Henn said.
The original proposal included a Waldorf-Astoria hotel, two luxury condos, a parking garage and upscale shops and restaurants.
Since then, after some local opposition, LXR has offered to lower the height on some of the buildings. Advocates have said the project would be good for the city, increasing tax revenues and creating jobs while attracting events and tourists.
After a year of redesigning and negotiating, the project appears more likely to go forward. Last May, the Central Beach Alliance voted in favor of Bahia Mar Park, while approval from the city’s Marine Advisory Board and the Beach Redevelopment Advisory Board followed.
A major victory came in September, when the Planning and Zoning Board approved LXR’s request for a zoning change that would permit taller buildings than current law allows.
The only snag came in July when the City Commission withheld approval over financial negotiations. Commissioners urged city officials to continue negotiations with the developer.
“The financials need work,” Mayor Jack Seiler said at the time.
During last week’s Central Beach Alliance meeting, CBA vice president Fred Carlson said he still found much of the financials murky.
But Carlson also said it is good that city officials are working on the numbers, and that citizens will be able to look over their shoulder.
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DON CRINKLAW