October 23, 2024 – Ft. Lauderdale, FL – Becker, a multi-practice commercial law firm with attorneys, lobbyists, and other professionals throughout the US, is pleased to have completed the financial closing for phase one of a four phase public-private partnership (P3) development deal on behalf of client Hall of Fame Partners LLC, which operates the International Swimming Hall of Fame.
In October 2023, the Fort Lauderdale City Commission approved a comprehensive P3 agreement for a $218 million redevelopment and expansion of the International Swimming Hall of Fame. The innovative P3 project includes a new west building with the new International Swimming Hall of Fame Museum, an aquarium and other public amenities. There will also be a new east building with a welcome center, café, a surf simulator machine, office space and roof deck.
A groundbreaking ceremony and reception took place on Wednesday, October 16, 2024, at the International Swimming Hall of Fame.
The phase one financing includes construction of a fire rescue building, sea wall and infrastructure for the project. Becker negotiated the comprehensive agreements and Phase I financing for $54,384,000. The second phase of financing will begin in spring of 2025.
Vice Chair of Becker’s P3 practice group Jennifer Bales Drake led the team, which included attorneys Robert Brighton, Tanya Orama and Arianna Roman. Of Counsel Claramargaret Groover represented Hall of Fame Partners LLC in negotiation of the construction contract.
Jennifer Bales Drake said, “We are pleased to partner with the City of Fort Lauderdale on this exciting and impactful project. We anticipate that this world-class facility will redefine the Fort Lauderdale Aquatic Center peninsula by providing a modern and interactive International Swimming Hall of Fame Museum as well as an aquarium, which will be a big South Florida tourist attraction. Our team is looking forward to negotiating phase two financing of the project in 2025.”
The International Swimming Hall of Fame is a nonprofit dedicated to collaborating with aquatic organizations worldwide to preserve, educate and celebrate the history of aquatic sports while promoting Every Child A Swimmer.
Becker established its P3 practice team with attorneys having proven public and private sector knowledge, experience and contacts to assist governmental entities and businesses seeking to partner on public facilities in overcoming dwindling government funds and ever-increasing demands for improved roads, sewers, schools, civic buildings and other public assets. Becker’s P3 team has long standing experience representing governmental entities and private sector governmental vendors. Representative projects include Louisiana State University’s P3 development of the Nicholson Gateway, a residential hall/mixed use, $400 million multi-phase project, the University of Central Florida and Bethune Cookman University (a private development following the P3 model) and the Broward County Convention Center Hotel.
About Becker
Becker, with headquarters in Fort Lauderdale, Fla., is a multi-practice commercial law firm with attorneys, lobbyists and other professionals at offices throughout the East Coast. More information is available at www.beckerlawyers.com.