Another Ft. Lauderdale Beach development project inches forward.
Ft. Lauderdale city commissioners recently approved a small improvement at 701 Seabreeze Blvd. The project is called Beachwalk at Bahia Mar and will be located on what is now a 2-acre vacant parking lot on the northern end of the Bahia Mar area of Ft. Lauderdale Beach. Rahn Bahia Mar Ltd., which is leasing the land, proposes two three-story building with around 20,000 square feet for two restaurants and 32,000 square feet of marina offices.
The approval inches the overall plan to redevelop the Bahia Mar area forward. The city currently owns the land but is leasing it out...and the current lessee is hoping to develop the land into a Waldorf-Astoria hotel, with two luxury residential towers. The plan also calls for additional shops, office space and keeping the marina. The annual boat show would continue to be held in the area and a park would be built on top of a new parking garage.
The plans sound very ambitious...given the current state of credit markets and the housing market. However...at the pace this is moving...they may not even be ready to start building (that is once final approvals are given by the city) until well into 2010. We have to be out of this muck of an economy by then...right?
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