ISHOF Takes Big Step On $190 Million Redevelopment Project in Fort Lauderdale

The International Swimming Hall of Fame (ISHOF) is one step closer to a $190 million redevelopment of the Hall of Fame that could include two buildings on either side of the aquatic center.

The Fort Lauderdale City Commission approved a public-private partnership (P3) on Sept. 19.

According to a South Florida Business Journal report, the lease and development deal is with Hall of Fame Partners, managed by Mario Caprini of Capital Group P3 Developments of Florida in Boca Raton, for the ISHOF at 501 Seabreeze Blvd in Fort Lauderdale. Fort Lauderdale-based Hensel Phelps Construction Co. is also a partner in the project.

The vote was the latest step in a process that began with a 2020 proposal submitted to the city.

“The new and improved ISHOF will be a significant complement to our world class Aquatic Center and Dive Tower,” Fort Lauderdale Mayor Dean Trantalis told the South Florida Business Journal.

The aquatic center and dive tower recently underwent a $47 million renovation and the facility has hosted several big meets, including the TYR Pro Swim Series.

According to the report, the developer believes the first of three construction phases will begin in late 2023 and the first building will be completed in 2025.

A new building will be constructed with a welcome center on the east side, ISHOF museum, a café, a surf simulator machine, about 27,000 square feet of office space, and a roof deck.

The west building would have a museum gift shop, a café, a teaching pool, a parking garage, exhibit spaces, VIP suites, a grandstand to watch diving, an event center and a rooftop restaurant.

Each building would rise five stories, and the new space would total nearly 331,000 square feet, according to the report.

Of the $190 million, the city is slated to pay $9.5-11 million per year, but the costs are expected to be offset by revenue generated by the project through the lease with the developer, according to a staff memo. The city would receive half of the revenue from the project.

According to an economic analysis by Business Flare Analytics, the project would have a $292 million economic impact during construction and support 750 jobs. It would place a property that was exempt from property taxes on the taxable side, generating $14 million in property tax revenue for the city, county and school board in the next 30 years.

The Hall of Fame will be relocated to a temporary facility during a portion of the construction.

“As the swimming and diving capital of the world, Fort Lauderdale is deserving of a crown jewel that can be enjoyed by the best swimmers in the world, our local community, and visitors throughout the year,” ISHOF Chairman of the Board Bill Kent said in the report.

The ISHOF is slated to induct Michael Phelps, Missy Franklin, Bob Bowman, Kirsty Coventry and Kosuke Kitajima, among others in the, the most decorated Hall class in history, on Sept. 30.

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