Luxury yachts will bring big bucks to Victoria, marina supporters say
Mar 15 2010 in Short Tacks by Marty McOmber
The Victoria Times Colonist has an interesting story about a local spat over building a new mega yacht marina. Will in bring in the bucks or push out the little guy. Three Sheets wrote a somewhat related story here.
Big bucks will pour in to Victoria when a mega-yacht marina is built in the harbour, say boosters — but their critics aren’t convinced.
Developers are promoting it as the “new wonder of the yachting world” in their bid to attract wealthy boaters who take their vessels and crews around the globe.
“Victoria is fast becoming the gateway to one of the world’s must-see cruising grounds, the B.C. coastline to Alaska,” states the project’s website.
Developer Bob Evans, who is partnering with WAM Development Group to build the 52-slip Victoria International Marina, said the business case remains “really good,” despite the economy.
Boaters who owned 80-foot to 100-foot boats are now able to move up to 110-foot to 120-foot vessels “because those have dropped in price,” he said.
Like any sector, the high-end yacht market has been hit by the global financial crisis. One German company announced last year that it was knocking up to tens of thousands of dollars off the price of its new yachts.
The vast majority if Citizens The municipality and the City council her are against the marina. It is a sell out of our public harbor to a rich developer to lease out to foreign vessels when we are short of space for Canadian boaters. It’s a crime if this goes ahead.