[Rhodes22-list] Robert, sailboat slips

[John Lock]

At 01:19 PM 3/18/2008 -0700, Tootle wrote:
>In this part of the world it is dockominiums.  In the Charleston, SC, area,
>many of the older (read less expensive) marinas have sold to dockominiums
>developments.  Usually they are priced $100,000 to $200,000.

Not just SC... that seems to be happening in Florida as well.  Real 
estate developers have seen big dollar signs in leveraging the slip 
space to those that also want a vacation place convenient to the 
boat.  The target demographic is not as large, but they have lots of 
spare cash.

Since they already have to purchase the property to build the marina, 
they make a whole lot more money by building condos on that land than 
some restrooms and a store.  Plus, the management company is often a 
spinoff from the relator handling the condo sales, which translates 
into continuing revenue for the realtor.

This was tried in Cedar Key, FL next door to my vacation place.  They 
got the marina dredged and slips built, but then got turned down by 
the zoning board on the condos... ouch.

Cheers!

John Lock
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s/v Pandion - '79 Rhodes 22
Lake Sinclair, GA
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