The redevelopment of the Lighthouse Point (Fla.) Yacht and Tennis Club awaits a new funding source for owner Terry Paterson, but one hurdle has been cleared. The developer’s agreement between Paterson and the city was recorded Dec. 21 by the Broward County Commission and became effective on that date. Paterson wants to develop 10 acres with 21 townhomes, a family residence [his own], a 63,000-sq.-ft. clubhouse, a 2,400-sq.-ft. kids’ center, 4,000 sq. ft. of tennis center/bistro, a 78-slip marina, 800 sq. ft. for a marina office, and a 774-sq.-ft. entryway. But until Paterson can prove financial liability by obtaining a construction loan, he cannot pull any demolition or construction permits, says Mayor Kyle Van Buskirk.
The redevelopment of the Lighthouse Point (Fla.) Yacht and Tennis Club awaits a new funding source for owner Terry Paterson, but one hurdle has been cleared, The New Pelican reported. The developer’s agreement between Paterson and the city was recorded Dec. 21 by the Broward County Commission and became effective on that date.
The 172 pages of considerations lays out Paterson’s obligations as he develops the 10 acres with 21 townhomes, a family residence [his own], a 63,000-sq.-ft. clubhouse, a 2,400-sq.-ft. kids’ center, 4,000 sq. ft. of tennis center/bistro, a 78-slip marina, 800 sq. ft. for a marina office and a 774-sq.-ft. entryway feature at Northeast 27 Terrace, The New Pelican reported. It contains such details as the curfew for the tennis courts, 9 p.m., and the number of live-a-board boat slips in the marina, 12.
The agreement has been in negotiation for several years and a special zoning district, Yacht Club Mixed Use, was created for a portion of the site to enable the residential development to occur, The New Pelican reported.
In the meantime, Public Works Director Chuck Schramm is making personal visits to residents of Northeast 27 Terrace to inform them Paterson will be installing 1,300 feet of sidewalk in the neighborhood, which will be built to the city’s specifications. Also required of the developer will be traffic calming devices, The New Pelican reported.
“Our employees are so dedicated,” Mayor Kyle Van Buskirk said this week. To prove this point, he noted Schramm is visiting the residents of Northeast 27 Terrace to inform them about the sidewalk. Said the mayor, “We are trying our best to be forthcoming [about this project].”
To date, traffic safety has been a major concern for residents of the area, The New Pelican reported.
But until Paterson can prove financial liability by obtaining a construction loan, he cannot pull any demolition or construction permits, the mayor said.
Paterson first came before the Lighthouse Point Planning and Zoning Board in 2018 with his plans for the yacht club property and up until early 2022, had been making regular appearances at both zoning board and city commission meetings. In play for most of this year, was fine tuning the developer’s agreement, The New Pelican reported.
Reportedly Paterson ran into a financial situation when his original $10 million loan to buy the yacht club property expired due to delays he blamed on the city.
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