Orlando developer paid $187M for Pier 66 and neighboring marina in 2016 and 2017.
Tavistock Development Company is proposing a major redevelopment of a waterfront assemblage in Fort Lauderdale.
The developer, owned by billionaire Joseph Lewis, paid $163 millionfor the 22-acre Pier Sixty-Six Hotel & Marina at 2300 and 2301 Southeast 17th Street in 2016, and $24 million for the neighboring Sails Hotel Marina & Shops at 2040 Southeast 17th Street last year.
The Orlando-based company is seeking approvals from the Fort Lauderdale City Commission to connect the two properties under the 17th Street Causeway via a public marina promenade, according to a fact sheet from the developer.
A proposed conceptual plan between the city of Fort Lauderdale andTavistock calls for up to 750 residential units, 384 hotel rooms, 150,000 square feet of commercial space, 4,000 square feet of marina space and boat slips. The developer is also seeking historic designation for the hotel, which is being renovated after it was damaged by Hurricane Irma.
Tavistock wants the approvals to last 20 years, the Sun Sentinel reported. The commission will vote on the proposal at its Tuesday evening meeting and again on June 19.
In July 2017, when Tavistock closed on the Sails marina property, it also secured a $50 million mortgage for the Pier Sixty-Six Hotel & Marina. The mortgage is not part of the redevelopment.