Luxury Development Set to Transform Fort Lauderdale’s Bahia Mar Marina
A $2 billion project, spearheaded by a team of developers including Related Group, is poised to revolutionize the largest marina in Fort Lauderdale, Florida. The ambitious development aims to create a “mini Monaco” at the Bahia Mar marina, complete with a hotel, condo towers, beach club, restaurants, and retail space.
A New Destination for South Florida
According to Nick Perez, president of the condominium division for Related Group, “Fort Lauderdale — and South Florida in general — has been waiting for a true destination that has a Monaco-like feel.” The project seeks to fill this gap by providing a five-star resort that encompasses everything from luxurious accommodations to upscale dining and entertainment options.
A Collaborative Effort
Related Group, controlled by billionaire Jorge Perez, is teaming up with Tate Capital and Rok Enterprises on the project. The development will span nearly 40 acres of land and water, featuring multiple condo towers and a St. Regis hotel with approximately 200 guest rooms.
A Long-Awaited Revitalization
The Bahia Mar marina has been in need of redevelopment for years, with previous efforts stalled due to opposition from local residents and officials. However, the new plan has been scaled down to address concerns, incorporating more public amenities and a reduced building footprint.
A Global Clientele
With 65% of visitors to the Fort Lauderdale International Boat Show hailing from overseas, the development is expected to draw a global clientele of yacht owners and boating enthusiasts. As Perez notes, “There is no facility in South Florida where you can have a residential unit, have a hotel, amazing food and beverage, and your mega yacht or regular yacht, whatever kind of boat you own, literally in your backyard.”
A Late 2029 Opening
The project is slated to open in late 2029, with Douglas Elliman marketing the residences, which will start at $4.4 million for the condos. As the development takes shape, it is set to transform the Bahia Mar marina into a world-class destination, rivaling the luxury and sophistication of Monaco.
Leave a Reply