Boating Industry Intelligence You Can Profit From
FORT LAUDERDALE, Fla. – Plans to convert a Fort Lauderdale boat repair yard into an upscale marina complex are currently underway, according to a story today in the Fort Lauderdale Sun-Sentinel.
Altman Development Corp., a Boca Raton developer, is working with Dallas-based real estate firm GreyHawk Realty Capital LLC to renovate the Summerfield Boat Works, building a modern marina to accommodate more megayachts, as well as smaller boats, brokerage offices, other facilities and perhaps a boatyard, the newspaper reported.
Under the plan, which is still under review, Flagship Marinas LLC, which manages about 8,000 slips in six states, will manage the property after it is renovated, according to the Sun-Sentinel.
No figures were released on the value of the prospective boatyard sale or the planned investments.
"We were encouraged by the developer's plans," Frank Herhold, executive director of the Marine Industries Association of South Florida, told the newspaper. "All the parties have considerable experience with high-quality, upmarket marina development."