The Related Group is leading an alliance of investors launching a $2 billion marina development in Fort Lauderdale, Florida.
Billionaire Jorge Perez’s Related Group, Tate Capital and Rok Enterprises are the main contributors to the project. According to official plans, the 88,000 square feet of waterfront commercial space at Bahia Mar will host a beach club, restaurants and retail space – alongside a hotel and condo towers. The residences will start at $4.4 million for the condos.
Nick Perez of The Related Group said “Fort Lauderdale — and South Florida in general — has been waiting for a true destination that has a Monaco-like feel,”
According to Perez – 65% of the visitors to the Fort Lauderdale International Boat Show are from overseas. The new development aims to draw on the already strong global clientele of yacht owners and enthusiasts who make the journey to Florida each year. “We have the deep water marina, we have the restaurants, but we don’t have this five-star resort that encompasses everything. So this is kind of what the market has been missing,” he said.
“There is no facility in South Florida where you can have a residential unit, have a hotel, amazing food and beverage and your mega yacht or regular yacht, whatever kind of boat you own, literally in your backyard,” Perez stated.
Yesterday, Fort Lauderdale city officials opened the newly renovated Las Olas Marina, a $130 million project. The opening prepares the city for the Fort Lauderdale International Boat Show, starting today and running until November 3. The Las Olas Circle holds space for “super-yachts” that are 80 feet and over.
The Bahia Mar project is scheduled to open sometime in late 2029.
By CEO NA Editorial Staff
