Paterson Starts $250M Lighthouse Point Yacht Club Redevelopment

• Terry Paterson and Paterson Project Management Inc. have begun a roughly $250 million redevelopment of Lighthouse Point Yacht Club in Broward County, Florida.
• The project at 2701 NE 42nd Street, Lighthouse Point, FL 33064, includes a 45,850-square-foot clubhouse, 21 luxury townhomes and a future custom waterfront residence.
• The existing 78-slip deep-water marina will remain, with construction phased to maintain club operations.
• The clubhouse is expected to be completed in 2028, while townhomes are priced at approximately $4 million to $5.1 million, with three reportedly remaining available.

What Paterson Is Building at Lighthouse Point Yacht Club

Paterson Project Management Inc., led by developer Terry Paterson, has started construction on the approximately $250 million redevelopment of Lighthouse Point Yacht Club. The project follows years of planning, permitting and design changes, with Insite Design Group’s Annie Carruthers handling the architecture. The development will replace the existing clubhouse with a modern, 45,850-square-foot facility while adding 21 three-story luxury townhomes across six buildings. A future custom single-family waterfront residence is also planned. Founded in 1961, the private yacht club is a longstanding boating and social destination in Broward County. The redevelopment is intended to modernize its facilities while retaining its marina and continuing club operations during construction.

What the New Clubhouse Will Offer

The clubhouse will feature a 10,400-square-foot fitness, health and spa complex, a fine-dining restaurant, piano lounge, outdoor tapas bar and a banquet hall accommodating up to 280 people. Additional amenities include five lighted Har-Tru tennis courts, a Junior Olympic-sized swimming pool, an outdoor spa pool, a children's recreation center and rooftop gathering spaces. The existing 78-slip marina will remain part of the property, preserving a key attraction for boating members. Construction is being phased so members can continue using selected existing amenities, including the marina and recreational facilities, as work progresses.

What Buyers Get From the Luxury Townhomes

The residential component will feature 21 townhomes ranging from approximately 3,600 to 4,700 square feet of air-conditioned living space. Three- and four-bedroom layouts will include 4.5 bathrooms, oversized two-car garages, private gardens and elevators connecting all three floors. Interior specifications include Sub-Zero and Miele appliances, walk-in closets and floating staircases with glass railings. Each townhome purchase includes membership to Lighthouse Point Yacht Club and access to its amenities. Prices reportedly range from $4 million to $5.1 million, with three residences remaining available. The developer is also offering a separate waterfront homesite of approximately 12,800 square feet for a custom residence.

What the Redevelopment Means for South Florida Real Estate

The project highlights how residential sales can complement the redevelopment of a private club. Luxury townhomes add a high-value residential component, while the upgraded clubhouse, dining venues and marina support the property's long-term appeal. For real estate investors, the lengthy approval process also illustrates the risks associated with complex redevelopment. The project required years of entitlement work, public hearings and design revisions, while changing construction-lending conditions delayed the start of work even after permitting was completed. The clubhouse is expected to be completed in 2028, with additional residential construction planned afterward. Successful execution will depend on managing costs, meeting the construction schedule and sustaining demand for high-end waterfront homes. With construction now underway, Paterson is moving a long-delayed redevelopment into its delivery phase, combining luxury housing with upgraded private-club facilities on an established Broward County waterfront site.