Tate Capital, Rok Enterprises Inc. and Related Group finalized a joint venture agreement to co-develop the new master site plan for the Bahia Mar mixed-use complex in Fort Lauderdale. The project aims to transform an underutilized and often closed-off portion of the Fort Lauderdale waterfront into a thriving, year-round destination while adding specific accommodations for the long-term hosting of the Fort Lauderdale International Boat Show (FLIBS).
“This is a legacy project, not only for us and our partners but for all of South Florida,” Jimmy Tate says, president of Tate Capital. “As such, we are incredibly proud to add a company as trusted and experienced as Related to our team. We look forward to working with Jorge, Jon Paul and the rest of Related to make the new Bahia Mar a landmark the entire Fort Lauderdale community can be proud of.”
The redevelopment of Bahia Mar will include a diverse range of uses and guest experiences, ranging from high-end branded residential and hospitality units to ample commercial and waterfront entertainment space. The project will be anchored by a luxurious 256-key, branded hotel and resort, including 60 turnkey condos. The property will also feature 350 residential units spread across four towers.
“This partnership is the result of a shared vision,” Jon Paul Perez says, president of Related Group. “Bahia Mar will be transformative, not only bringing considerable revenue to the City of Fort Lauderdale but also providing its residents with a much-needed live-work-play experience. We’ve been active in this particular submarket for many years and are excited to leverage that experience to help this property reach its full potential.”
Bahia Mar is the long-time home of FLIBS and the redevelopment will feature a world-class mega yacht marina with 245 slips. The reconceptualized site plan will include approximately 7.32 acres of contiguous waterfront boat show space, housing over 160,000 square feet of climate-controlled areas, 41,000 square feet of tent space, and several additional acres of open space to house the Boat Show’s food court and other food and beverage and retail kiosks.
Additional public amenities include:
- A half-mile pedestrian boardwalk around the entire waterfront side of the property
- Several acres of waterfront greenspace
- Open access to the Marina Village, a 35,000-square-foot waterfront promenade with eight high-quality food and beverage kiosks
