The Real Deal Miami

Developer plans 33 waterfront townhouses on site of yacht club in Lighthouse Point

Terry Paterson, who acquired the Lighthouse Point Yacht Club last year, would need rezoning approval to advance his planned townhouse development
August 25, 2018 01:00PM

Terry Paterson

A developer plans to build 33 waterfront townhouses on the grounds of the Lighthouse Point Yacht Club.

Fort Lauderdale developer Terence “Terry” Paterson bought the Lighthouse Point Yacht club last year for nearly $16 million.

Paterson would price the townhouses from $1.5 million to $1.95 million.

He plans to use profits from townhouse sales to rebuild the 57-year-old yacht club at a cost of approximately $20 million.

Townhouse residents and club members would have access to the rebuilt yacht club. Paterson also plans to build amenities including two swimming pools, two restaurants with bars, a marina, tennis court, gym, spa and event patio.

The planned development will be reviewed Tuesday at a joint workshop of the Lighthouse Point city commission and planning and zoning board.

If approved by the city, the townhouse project would require rezoning by Broward County.

Paterson would construct eight buildings with 33 townhouses on 3.3 acres between the Rialto and Marco canals.

Each townhouse would be three stories tall and would have more than 3,000 square feet of interior space with four bedrooms, four and a half bathrooms and ten-foot ceilings.

Developer Adam Adache is advancing a smaller townhouse development in Lighthouse Point with 12 units  the first development of its kind in Lighthouse Point in a decade. Adache told the Sun-Sentinel he expects to apply for building permits for the townhouse project in November. [Sun-Sentinel]  Mike Seemuth