The Water District, a public-private venture on the Intracoastal Waterway, will combine an aquarium, reimagined Hall of Fame museum, and elevated promenade — at no upfront cost to taxpayers.
Fort Lauderdale has officially given a name to its most ambitious waterfront project in recent memory. The Water District, a $220 million mixed-use development on the Intracoastal Waterway, was unveiled as the new identity for a site that will house a marine aquarium, a redesigned International Swimming Hall of Fame, rooftop dining, and a publicly accessible elevated promenade when it opens in late 2028.
A 30-year public-private partnership between the City of Fort Lauderdale and a private consortium comprising Capital Group P3 and Premier Community Investment Group underpins the project. The City Commission approved it unanimously in October 2023. Private funding covers all construction costs, leaving the city with no upfront financial obligation. At the end of the lease term, every improvement on the site reverts to public ownership for one dollar.
A Deal That Pays for Itself
City officials say the arrangement also generates revenue. Tenant income is projected at $14.7 million annually, enough to cover the city’s lease obligations and deliver a net annual gain of approximately $1.1 million. Beyond the revenue picture, the project delivers $53 million in publicly owned infrastructure, including a new seawall and an Ocean Rescue headquarters, with construction on the latter due for completion in June 2026.
“Fort Lauderdale’s relationship with water is its identity,” Mayor Dean J. Trantalis said. “The Water District makes that identity permanent.”
The development takes shape around the existing footprint of the International Swimming Hall of Fame campus, the only facility in the Western Hemisphere to carry official World Aquatics recognition. Adjacent to it, the Fort Lauderdale Aquatic Center features the hemisphere’s tallest competitive dive tower at 27 metres and seating for nearly 2,000 spectators. Together, the two venues host World Aquatics Championships, Olympic trials, and the TYR Pro Swim Series.
A Waterfront for Everyone
The Water District serves both competitive athletes and the general public simultaneously. At the centre of the layout, a High Line-inspired elevated walkway connects two buildings, keeping visitors, athletes, and spectators within the waterfront precinct. The promenade runs daily from dawn to dusk and carries long-term potential to extend toward the ocean.
At ground level, a marine aquarium anchored by a 10,000-gallon tank will use adaptive technology to tailor educational content to different visitors. Frameless®, an immersive digital art experience that has appeared in other international venues, will also be housed within the complex. Above the promenade, a rooftop restaurant managed by Apogee Lauderdale will offer panoramic water views alongside event facilities for corporate and private functions. VIP suite accommodation, managed by Epic Destinations and operated by Deep Blue Attractions, rounds out the offering.
The site will be directly reachable by the Fort Lauderdale Water Taxi through a newly constructed public dock.
Mario Caprini, Managing Partner of Hall of Fame Partners, framed the project as a destination capable of drawing repeat visitors. “You can come to The Water District 15 times in a year and do something different every single time,” he said.
Phase 1 construction is currently underway
The project originated in 2021 from an unsolicited redevelopment proposal submitted by Capital Group P3 and construction firm Hensel Phelps. Phase one construction is currently underway. Groundbreaking on the West Building is targeted for summer 2026, with the full development set to open to the public in late 2028.
The Water District is not alone in signaling renewed appetite for large-scale aquatic destinations across the United States. In Virginia, Kalahari Resort is also advancing construction on a major indoor water park, reflecting a broader wave of investment in water-focused leisure infrastructure nationwide.
The Water District (Fort Lauderdale, Florida)—Fact Sheet
Project Overview
- Project Name: The Water District
- Location: Intracoastal Waterway, Fort Lauderdale, Florida
- Total Value: $220 million
- Type: Mixed-use waterfront destination
- Expected Opening: Late 2028
Key Components
- Marine aquarium with a 10,000-gallon tank
- International Swimming Hall of Fame museum
- High Line-inspired elevated public promenade, open dawn to dusk
- Frameless® immersive digital art experience
- Rooftop restaurant and event spaces managed by Apogee Lauderdale
- New public dock accessible via Fort Lauderdale Water Taxi
Aquatics
- Only facility in the Western Hemisphere with official World Aquatics recognition
- Western Hemisphere’s highest competitive dive tower at 27 metres
- Grandstand capacity: 1,950 spectators
- Hosts World Aquatics Championships, Olympic trials, and TYR Pro Swim Series
Partnership & Financials
- 30-year Public-Private Partnership, unanimously approved October 2023
- Privately funded — zero upfront cost to taxpayers
- $53 million in publicly owned infrastructure upgrades
- Projected annual tenant revenues: $14.7 million
- Estimated net annual City profit: $1.1 million
- All improvements revert to the City for $1 at lease end
Timeline
- Construction underway (Phase 1 / Ocean Rescue HQ): completion June 2026
- West Building groundbreaking: summer 2026
- Full opening: late 2028
