South Florida EB-5 projects Las Olas Ocean Resort, Palm House Hotel mired in litigation, fraud charges – South Florida Business Journal

Iconic hotel Bahia Mar Fort Lauderdale Beach recently announced a new, upscale $7 million redesign. Bahia Mar’s refresh will reflect the city’s nautical lifestyle and reputation as the Venice of America, highlighting the property’s status as the home of the Fort Lauderdale International Boat Show.

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Broward + Palm Beach Real Estate And Construction. Real Estate, Development, Architecture and Construction News For Fort Lauderdale & All Of Broward & Palm Beach. Las Olas Riverfront Demolished To Make Way For 1,200-Unit Riverx.. Guitar-Shaped Hotel Now Under Construction At Hard Rock.

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The EB-5 investors allege in a suit filed in U.S. Bankruptcy Court on Monday that Ray Parello, Ken Bernstein, Jack Kessler, Eugene Kessler and Bancorp Bank engaged in a fraudulent scheme to entice investors into putting $500,000, each, into the Las Olas Ocean Resort, a planned 12-story, 136-room hotel project at 550 Seabreeze Boulevard.

Hopes for green cards are dashed when South Forida EB-5 development projects go bust or become mired in allegations of fraud.

Robert Ray Huizenga, the son of famed Fort Lauderdale billionaire H. Wayne Huizenga was sentenced to 18 months in Florida State Prison for the offense of Boating Under the Influence today. Circuit Judge Michele Towbin Singer accepted the plea today while allowing this sentence to run concurrent with the 24 month prison sentence huizenga received for violating his probation.

Developer ends Bahia Mar project in Lauderdale. Tate’s investor group has a 46-year lease on the city-owned land where Bahia Mar is located at the southern end of Fort Lauderdale’s beach. Opponents of the withdrawn Bahia Mar project criticized plans to build condominium buildings, initially designed to rise 39 stories and then reduced to 29 stories.

Facing foreclosure, Fort Lauderdale hotel developer files for Chapter 11 bankruptcy. The company, 550 Seabreeze Development LLC, filed a Chapter 11 petition in the U.S. Bankruptcy Court. 550 Seabreeze is the developer of Las Olas Ocean Resort, designed as a 12-story hotel with 136 rooms plus a four-story parking garage with 268 spaces and a restaurant measuring 12,000 square feet.

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A Fort Lauderdale mansion that was home to disbarred attorney and "foreclosure king" David J. Stern is now selling for $32 million. The Harborage Isle home boasts more than 17,000 square feet of living space, with six bedrooms and seven bathrooms-not to mention its tennis court, cabana, infinity pool, yacht dockage, and incredible views of the Intracoastal Waterway and city.