The Real Deal Miami

Ireland’s Inn plan stalled

May 20, 2011 10:10AM

Plans for a new luxury condo-hotel on the site of the Ireland’s Inn property in Fort Lauderdale have been delayed as the owners wait for banks to ease buyer financing. “We’re probably looking at the first part of 2012 to seriously look at design and development,” said Andy Mitchell, a spokesperson for the Ireland family. “The big challenge is that there’s not a lot of money out there to finance condo purchases.” The costs of the project were first estimated at approximately $100 million, although construction should cost less than expected due to the slowing down of the building industry during the downturn. The new hotel would have a 165-room resort with 165 condos and three restaurants. [Sun Sentinel]