The Real Deal Miami

Hotel revamp hits snag

November 25, 2008 01:43PM

The $100 million renovation of the Riverside Hotel in Fort Lauderdale has been delayed, and its slowdown
will also keep several stores on Las Olas Boulevard closed longer
than expected. Cafe Europa and O’Hara’s Jazz & Blues Cafe were
forced to close this summer in anticipation of fall construction
crews beginning expansion of the hotel and demolishing the adjacent
tenant space. Owner Las Olas Corp. is trying to negotiate better
financing terms and expects to reach an agreement on lending terms as
soon as this week, said the company’s chairman and CEO, Irv Bowen.