Page 16 - Layout 1

CRCCE0122.qxp_Layout 1 1/5/22 1:03 PM Page 14

Mayor’s Message

Bahia Mar. The mere mention of the name evokes a
lot of passion across Fort Lauderdale.

nd for good reason. It’s the critically important home of the Fort Lauderdale
International Boat Show, and it sits at the center of our marine and yachting
A community, popular among locals and tourists alike.
Yet, you may remember that in 2017, the then City Commission agreed to allow the
holder of the lease, Rahn Bahia Mar, to develop 651 apartment rental units – packing
them onto the 16-acre peninsula. The Boat Show was relegated to the small remnant of
open space and the inside of a parking garage.

At this moment, there is nothing preventing them from building what is now approved.
But Rahn Bahia Mar approached the city earlier this year to see if a different plan could
be reached that would work better for them as well as the community.
We have before us the opportunity to protect the Boat Show and redevelop the property
in a way that showcases it with a first-class hotel, marina and resort complex with better
Dean Trantalis public access and more public amenities.
Mayor,
City of Fort Lauderdale So far in the negotiations, we have won a number of concessions.
dtrantalis@fortlauderdale.gov
We have reduced the number of residential units from 651 to 350. This allows a much
larger open-air space for the Boat Show than the 2017 plan – albeit not as much as it has
had historically but it’s an acreage that Boat Show promoters now believe is sufficient.

There is a significant public promenade around the marina, a central event lawn
overlooking the Intracoastal Waterway that the public could use, a grocery store
available to mariners as well as beach residents, and a marine village of small shops.
There is also commercial space interwoven in the buildings that would be marketed to
yacht brokerages, chandlers and other maritime-related businesses.
City Hall, 8th Floor
100 N Andrews Ave The existing Bahia Mar Hotel would be demolished and rebuilt to luxury standards. The
Fort Lauderdale, FL 33311
residential units would be branded residences administered and marketed by a major
hotel company. And the whole Bahia Mar site would be made more resilient.
But there is a catch: the developers currently have just over 40 years left on their lease
with the city. They are requesting a new lease with a combined term of 100 years and
that the units be sold as condominiums.
Still, I believe we are moving closer to a plan that would be a better option for the city
Office Contact and the Boat Show. And, the city is not done with negotiations.
Scott Wyman The conversation has now turned to the terms of a new lease. I do not believe Rahn
Chief of Staff
Office of the Mayor Bahia Mar has offered financial terms that compensate the city appropriately.
swyman@fortlauderdale.gov
954-828-5314 For years, the city has received pennies while the leaseholders have made millions under
the lease we are currently burdened with. The developers think we should be satisfied
that they offering to pay us a little more.
What do they think is fair? Try $3.7 million in rent. That’s giving us a cut of the profits
from commercial, hotel and marina space and a $1-per-square-foot annual rent on the
residences. They also estimate that they would pay $610,000 in transfer fees a year on
future condo resales.
The developers also kick in a share of the initial sales of the residential units. They expect
CITY OF FORT LAUDERDALE that would total about $69.4 million once all units sell. Finally, they establish three trust

14 CORAL RIDGE COUNTRY CLUB ESTATES COMMUNITY ASSOCIATION