Fort Lauderdale CRA Approves $3 Million Incentive for the Development of a New Hotel
On May 21, 2019, the Fort Lauderdale Community Redevelopment Agency (CRA) Board of Commissioners approved a $3 million incentive award to Avenue D ‘Arts FLL, LLC for the development of a Comfort Suites hotel. The CRA Board also authorized the sale of CRA- owned property to the developers. The CRA-owned property will be combined with adjacent land already owned by the developer to construct the new hotel. The new hotel, to be located at the NW corner of Avenue of the Arts and NW 3rd Street is within walking distance from the Brightline-Virgin train station and the first hotel project west of the Florida East Coast Railway. Avenue D ‘Arts FLL LLC is a joint venture between Boca Raton-based Onyx Hospitality, led by Sameet Patel; Morpheus Group, led by Dr. Minesh Patel; and Impact Investments 1 LLC, led by Joseph Poveromo and Branden Hertz.The five-story hotel will include 100 suites,...