Megayacht Marina to be Built in Ft. Lauderdale, FL

MiamiHerald.com | 06/27/2006 | Megayacht marina to be built

Earl E. Weber, a New Orleans developer, has taken over the Summerfield Boat Works boatyard in Ft. Lauderdale, Florida, where he plans to build a covered marina for megayachts. There are expected to be 26 slips, costing anywhere from $2 million to $4 million each. Pier Seventeen Marina and Yacht Club, the new ownership group of the Ft. Lauderdale marina, has already taken reservations on a dozen slips.

"This deal was a no-brainer," wrote Mr. Weber, "I spend about $4,000 per month on a a slip I currently rent off the Intracoastal Waterway. I now own a secure slip that is an appreciating asset."