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