Suntex Marinas' redevelopment of Las Olas moves forward
by Andrew Golden 24 Jul 2019 08:48 PDT
Suntex moves forward with redevelopment of Las Olas Marina © Andrew Golden
Suntex Marina Investors LLC (Suntex), the premier owner and operator of best-in-class marina properties, announced today that the Fort Lauderdale City Commission has voted unanimously to approve plans for the renovation of Las Olas Marina.
Suntex's initial bid was selected by the city in 2016 and the lease was signed on May 3, 2018. The City Commission gave final approval on July 9, 2019. The company has entered into a 50-year lease with the city to develop and operate the city-owned space. This will be a multi-million-dollar project and is in addition to the $70 million redevelopment by the City to create waterfront and beach access, a park, new parking facilities and renovate existing sidewalks. The marina will include 68 boat slips capable of handling vessels up to 250-feet and two buildings - a 11,231-square-foot, two-story high-end restaurant and a 24,401-square-foot, 3-story marine services building containing another restaurant, dockmaster's office, ship store, offices, a rooftop gym and a swimming pool, all with expansive views of the Intercoastal Waterway. There will also be lounges, a kitchen and showers for yacht crews.
"We are eager to begin redevelopment," said David Filler, head of Florida investments for Suntex. "Our plans for Las Olas that have just been voted on by the City Commission are designed to give our guests the highest-quality experience, while providing the greatest possible benefit for the community. There is nothing else like it. We are so grateful of the residents and elected officials of the City of Fort Lauderdale for their continued support."
"Las Olas is located at the epicenter of the yachting capital of the world," said Bryan Redmond, president of Suntex. "The entire Suntex team has a steadfast determination to be responsible stewards of sustainable, inclusive and conscientious communities. We look forward to applying that same high standard to Fort Lauderdale that we hold for all of our properties across the country."
The Suntex portfolio of 45 marinas are located in California, Florida, Georgia, Iowa, Kentucky, Maryland, New Jersey, Oklahoma, Texas, Tennessee and Virginia.
For more information on Suntex Marina Investors LLC, or the complete portfolio of Suntex marinas, please contact or visit www.suntex.com.