The Real Deal Miami

Waterfront redo for Bahia Mar

May 16, 2008 10:11AM

Fort Lauderdale’s waterfront would get a $500 million makeover and transform Bahia Mar into a Waldorf- Astoria hotel surrounded by new luxury condominiums and shops, under a development plan submitted to the city Thursday. Developer LXR Luxury Resorts & Hotels would maintain a permanent home for the annual fall boat show and also build a four-acre waterside park. The city would see lease payment and real estate tax revenue rise to an estimated 10 million annually and help rebrand Fort Lauderdale beach as an upscale strip.