South Florida Business Journal – 12/4/2021
Developer Jimmy Tate released an updated economic impact report emphasizing that his controversial redevelopment plan for Bahia Mar Fort Lauderdale Beach Resort will provide thousands of jobs and contribute significantly to Broward County’s economy.
The new economic study, released Dec. 1, was commissioned by Tate’s Rahn Bahia Mar LLC and prepared by J. Antonio Villamil of The Washington Economics Group, Inc. (WEG) in Coral Gables with Kevin Crowder of North Miami-based BusinessFlare. The report asserts that the Bahia Mar project will create an estimated economic impact throughout Broward County of $1.43 billion during all the phases of construction.
Tate wants to construct 360 condominium units, 256 hotel rooms, and 88,000 square feet of commercial at 801 Seabreeze Blvd. on land owned by the city of Fort Lauderdale, where the Bahia Mar and a 250-slip marina now operate. Tate also wants to switch out his company’s current lease with the city, which runs out in 41 years, and replace it with a 100-year lease. Read full article