Construction has begun at the Lighthouse Point Yacht Club, 2701 NE 42nd Street in Broward County, on a redevelopment that has been in planning for years. Developer Terry Paterson of Paterson Project Management Inc. is building a new private clubhouse, 21 luxury townhomes and a future custom waterfront home after permitting disputes, financing hurdles and a redesign prolonged the project.
City Review and a Long Road to Construction
The redevelopment is now under construction after more than seven years of preconstruction work, including about five years of entitlement proceedings and 28 public hearings involving land-use amendments, zoning changes and engineering reviews with the City of Lighthouse Point and Broward County, according to Florida YIMBY. The club submitted its initial land-use application in 2018. Updated life-safety requirements prompted changes to the clubhouse plans to accommodate a higher occupant load, extending the timeline by about 18 months before permitting was completed in 2024, the report said.
Local coverage documented some of the review’s specific challenges. In June 2023, The Coastal News reported that fire-safety calculations had raised the clubhouse’s required maximum occupancy from around 400 people to nearly 1,600. The plans were resubmitted to the city in May and remained under review weeks later, according to The Coastal News. The outlet also reported that the development agreement required Paterson to show the city commission proof of financial viability before demolition of the old clubhouse could begin. A Colorado Savings Bank letter citing $25.5 million in construction financing for the residential units was deemed insufficient by city administration at the time.
What the City’s Records Say About Parking
A January 2022 City of Lighthouse Point agenda report said the city traffic engineer requested more analysis of parking demand from residential and marina uses. After that reanalysis, the report said, the maximum number of guests at a special event would be lower than 325, according to the City of Lighthouse Point.
Financing Snags and a Foreclosure Along the Way
Money troubles compounded the permitting slog. New Pelican reported that an original $12 million project loan went into foreclosure in 2022 after a financing deadline expired, according to Paterson, around the same time the project was contending with asbestos discovered in the old clubhouse. Florida YIMBY reports that the development team postponed the construction start further because of shifting commercial construction lending conditions, and that Paterson acquired the interests of his foreign investment partners in early 2026, with the redevelopment also receiving investment from club members.
The project’s estimated cost varies by source. Florida YIMBY and Discover South Florida cite roughly $250 million. Paterson appeared in a 2024 Buildertrend podcast episode titled “Getting a $150 Million Development Off the Ground,” according to Buildertrend.
What's Being Built — and Where Reports Diverge
Florida YIMBY describes the redevelopment as a 45,850-square-foot private clubhouse, 21 luxury townhomes in six buildings and a future custom single-family waterfront residence, with the clubhouse anticipated to be completed in 2028. The clubhouse’s reported area is consistent with figures from the Lighthouse Point Yacht Club, which lists 35,500 square feet of air-conditioned interior space and a 19,475-square-foot accessible rooftop area. Other reports differ on the residential count and clubhouse size: New Pelican described a 12-acre project with a 43,000-square-foot clubhouse, while a January 2022 City of Lighthouse Point agenda report described up to 22 residential units, then proposed as 21 townhomes and one single-family home; Discover South Florida also reported 21 townhomes.
Florida YIMBY puts the townhomes at about 3,600 to 4,700 square feet of air-conditioned living space; Discover South Florida reported a range of 3,600 to 4,750 square feet. The three-story homes are planned in three- and four-bedroom layouts, with elevators, oversized two-car garages and private gardens. Some may include an optional third-floor living area and covered patio, Florida YIMBY reported.
Pricing, Availability and the Marina
Florida YIMBY reports that the townhomes are priced from about $4 million to $5.1 million, with three still available, and that a roughly 12,800-square-foot waterfront homesite is being offered for a custom residence. Discover South Florida also reported that three of the 21 townhomes remain unsold. Townhome ownership includes club membership and access to recreational and waterfront amenities. The redevelopment retains the property’s 78-slip deep-water marina near Hillsboro Inlet, according to the club’s materials.
Construction on the clubhouse is expected to run roughly two years, and work on the remaining five townhomes and the custom single-family waterfront home is planned to begin only after the clubhouse itself is finished, per Florida YIMBY. The project proceeds in phases specifically to keep the club and marina operational throughout, and members will retain access during construction to the existing pool and pool deck, restaurant and bar, fitness center, marina, tennis facilities and other recreational amenities, with social events and boating programs continuing uninterrupted. Separate reporting from Paterson Project Management similarly states that members will keep access to five Har-Tru clay tennis courts, a fitness center, a children's activity area, outdoor dining, a junior Olympic-sized pool and the marina while the work continues.
Inside the Planned Clubhouse
The clubhouse plans include fitness, health and spa facilities; dining and lounge spaces; a children’s recreation center; pools; and indoor and outdoor areas for events. Florida YIMBY reports that the design also includes a banquet hall for up to 280 people, a conference room for up to 24 attendees and a private bridal suite.
Plans call for five lighted Har-Tru tennis courts, two at ground level and three on the rooftop, according to the club’s development materials. Florida YIMBY identifies Annie Carruthers of Insite Design Group as the project’s designer. The club describes its offering as combining boating, dining, recreation and event facilities.
A Broader Boom Along Broward's Waterfront
The Lighthouse Point project is one of several large-scale marina and club redevelopments reshaping Broward County's coastline. Pier Sixty-Six in Fort Lauderdale, a $1 billion project by Tavistock, reopened in 2025 with 88 residences and a 164-slip superyacht marina, according to Discover South Florida. Bahia Mar, meanwhile, is described as a $2 billion redevelopment set to include a St. Regis hotel, luxury condominiums and roughly 250 marina slips, the outlet reports. Paterson's firm has built smaller-scale waterfront projects before: a 2017 report from the South Florida Sun Sentinel noted his company was building Sky 230, a 29-unit collection of luxury waterfront townhomes in Lauderdale-by-the-Sea, with 17 units completed and sold at the time.
