Ft. Lauderdale’s iconic Bahia Mar Yachting Center has a new partnership of owners: Tate Capital, Rok Acquisitions, Rialto Capital Management, and RCI Marine. The new…
A letter to withdraw plans to redevelop Bahia Mar Resort and Marina, home to the Fort Lauderdale International Boat Show (FLIBS), was sent to the the city of Ft. Lauderdale on June 17.
Show Management and the Marine Industries Association of South Florida (MIASF) have expressed disappointment. As producer and owner of the show, respectively, the two groups have worked with the current lease-holder and developer, TRR Bahia Mar, LLC/RAHN Bahia Mar LLC, and the landowner, the city of Fort Lauderdale, to ensure a future home for the show at Bahia Mar.
A statement signed by Efrem “Skip” Zimbalist III, president of Show Management, and Phil Purcell, executive director of Marine Industries Association of South Florida, stated that the groups “actively supported the boat show facilities contained in the proposed site plan”.
The plan was submitted to rezone the area as Innovative Design (ID), which would allow for condominiums in two 29-story towers, a public promenade/park and a permanent home for the boat show.
The letter of withdrawal states that parties could not come to agreement on several key issues including the lease for FLIBS, the site plan, and the lease with the city, which proposed another 50 years.
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