The Bahia Mar Hotel complex took a step forward to seeing a possible major renovation.  Ft. Lauderdale Beach City Commissioners and developers of the project agreed to initial plans Tuesday.  The plans consist of a new 100-year lease on the land...a five-star 300-room Waldorf-Astoria hotel, high-rise condos and a permanent long-term spot for the International Boat Show along with renovation of the existing hotel on the property.  They also plan on adding more retail and restaurant space along A1A.

This $500 million deal has been in the works for a while and LXR Resorts hopes to have plans finalized by this fall.  This could be good for the beach and the Boat Show.  The only part of the deal that I might not be sold on is the condo portion.  I wonder if the market can support more condo's on the beach.