The Real Deal Miami

$200M resort pitched for Las Olas Marina

City of Fort Lauderdale mulling different options for nearly 10-acre site

November 18, 2014 10:30AM

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Las Olas Marina

Las Olas Marina

A $200 million resort is being pitched for the city-owned Las Olas Marina in Fort Lauderdale.

City officials are reviewing different proposals to redevelop the marina, with a major focus on creating more space for mega-yachts. A private developer submitted plans for a 220-room hotel surrounded by parking garages and ground-floor retail space. An additional four-story parking garage with restaurants and offices is also part of the proposal.

The developer would like the city to contribute $20 million with the promise of guaranteed annual revenue of $5.3 million after three years, according to the Sun-Sentinel. The nearly 10-acre site is located on the east side of the Intracoastal Waterway.

Fort Lauderdale commissioners are expected to discuss the future of the marina during Tuesday’s meeting. [Sun-Sentinel]Eric Kalis

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