Lighthouse Point yacht club to get makeover

LIGHTHOUSE POINT — Fort Lauderdale builder Terence Paterson has major redevelopment plans in store for the Lighthouse Point Yacht & Racquet Club.

An entity controlled by Paterson — Lighthouse Point Yacht Club Investments — purchased the property at 2701 NE 42nd St. from Silver Seas Hotel Inc., earlier this month in a $15.9 million transaction. The deed transfer was filed with Broward County on July 20.

In a telephone interview Tuesday, Paterson, president of Paterson Project Management, said he acquired the Lighthouse Point yacht club in a 50-50 partnership with entrepreneur Angel Doraliev.

“We have a lot of big plans. We’re planning more than $65 million worth of development over there,” Paterson said.

Paterson Project Management has more than 15 years of home construction and general contracting experience, according to its website. The company is building Sky 230, a collection of 29 luxury waterfront town homes in Lauderdale-by-the-Sea. Seventeen have been completed and sold, Paterson said. It also has about a dozen homes going up across Fort Lauderdale, Lighthouse Point, Boca Raton and West Palm Beach.

The yacht club’s redevelopment plans, which are contingent on approval from Lighthouse Point city officials, include the construction of a new clubhouse building and 20 residences on site, Paterson said.

The new two-story clubhouse would sport a resort-style ambiance offering a kid’s pool, Jacuzzi, lap pool and 19 covered cabanas, he noted. It would have an upgraded fitness center overlooking its marina, spa facilities and rooftop tennis courts.

The clubhouse’s food and beverage upgrades would include a new poolside tapas-style eatery and interior formal restaurant and a 350-seat banquet facility on its second floor. A conference room, bridal suite for wedding parties and children’s play area also would be added on the upper level.

On the residential side, Paterson said plans call for 10 luxury homes to be built along the property’s waterfront and another 10 luxury, 3-story town homes along its street side. Rezoning of the property for residential purposes will be required, and that application process has started.

In the interim, light renovations to the property will begin in August. They will include new furniture, repainting of the existing clubhouse and revamped landscaping. The restaurant’s menu will be changed to include contemporary and healthier options while keeping popular traditional dishes, Paterson said.

The South African-born avid yachtsman said he did a lot of research on the private, gated yacht club property before acquiring it. He’s also solicited input from many long-time members on the improvements they’d like to see there.

“We’ve been talking to every single member we can get our hands on,” he said.

One overriding response has been a desire to grow the club’s base of young and family members, he said. Another wish-list item is the addition of the popular pickle ball game. But Paterson said he will tend to the needs of older members.

Club membership before the recession was about 750; the goal is to grow it and cap it at about 1,000.

While future plans also include a rebuilding of its marina, for now, it’s doing a vibrant business the owners don’t intend to disturb.

Situated close to the Hillsboro Inlet, the 78-slip marina can accommodate sport fishing boats and yachts from 30 feet to 120 feet in length, according to the club’s website.

“The marina is our jewel,” Paterson said. “There’s a waiting list to get in,” Paterson said.

LIGHTHOUSE POINT YACHT CLUB INVESTMENTS/COURTESY Fort Lauderdale builder Terence Paterson plans more than $65 million in renovations and upgrades to the Lighthouse Point Yacht & Racquet Club his company recently bought for nearly $16 million.