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South Florida

Development site in Dania Beach nabs $15M loan

Planned site of the Hotel Morrison in Dania Beach
Planned site of the Hotel Morrison in Dania Beach

The developer of the Hotel Morrison along South Federal Highway in Dania Beach closed on $14.97 million in financing, Broward County records show.

N&S Properties, a Weston-based company led by Alvaro E. Correa, owns the property at 28-48 South Federal Highway. N&S paid $1.8 million for the 40,367-square-foot site in June 2014, according to property records. Banesco USA is the lender. 

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The company plans to develop a 143-room, seven-story hotel on the nearly 1-acre property in Dania Beach, according to a notice of commencement filed in August. The former building was demolished in December, records show. Bluewater Builders is the contractor.

The property is near the Fort Lauderdale-Hollywood International Airport, which is planning an expansion, and is within walking distance of Jaxson’s Ice Cream Parlour & Restaurant and the A1A.

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