(Artist rendering of the Ocean Wave Beach Resort, courtesy SunSentinel.com)

Ocean Wave Beach Resort received unanimous approval and pushes Ft. Lauderdale Beach forward in their quest for a makeover. The new hotel will be located on 1.8 acres at 525 N. Ft. Lauderdale Beach Blvd, sandwiched between the new Trump Towers and the newly opened Hilton. That means that a few older motels will be reduced to dust very soon - the Tropic Cay Motel and the Avalon Waterfront Inn.

The artist renderings are quite impressive and look very unique. The building will 'bow' out like the letter 'D' ...but from above will appear like the letter 'V'. It should fit right in with it's neighbors as it's planned to be an upscale hotel as well with 328 guest rooms and raising 22 stories. There are also two restaurants planned for the property to be named at a later date.

Even with so many 'high end' properties, there still is a fair share of mid-to-low cost options on the beach. With the current credit market, we think there won't be too many more projects submitted for another few years. The strip needs a few nice mid-priced properties though...I just hope that all the new construction is going to be high-end. A good mix is the only way to ensure success. The city might even want to think of upgrading the entertainment venues on and the beach. With all of these 'upscale' properties...we don't envision the guests shopping at Beach Place at the 'Big Dog' clothing store. At least Galleria Mall has done some major improvements...

Although the Ocean Wave Beach Resort was approved, we won't believe it until the groundbreaking. We hear that developers are having a hard time securing financing on hotels and condos...and without financing, there is no building. Another hotel near by gained approval in 2007 to build another high-rise 18 story hotel, but construction has yet to be started.

Only time will tell what will happen on the Ft. Lauderdale Strip.