"Dock-uminiums"

[Floridaguy]

There is a major move in some parts of Florida to covert rental slips at private marinas to "slips for sale."

This happened at my (recently) past club - Pasadena Yacht & Country Club in Gulfport, FL (near St. Pete Beach). Although a private club, the new owners decided to sell the slips and take the money. The deal is this: after all slips are sold, the slip owners must form an association (like a condominium) and assume all the expenses of running the marina.

My 40 foot slip, currently "rented" at $11/ foot ($440 per month plus taxes, etc) was offered to me at the "pre-public sale" price of $148,000. The "list" price is $160,000. There's a "rule of thimb" that says that these sell at $4,000 a foot. I could buy it for $58,000 down and a 15 year note with payments of $936 monthly PLUS $200 a month in "association fees" and, I still have to belong to the club and pay club dues and a food and beverage minimum.

I said "Thanks, but no thanks" and moved my boat. In searching for a new marina, I found two other marinas in the St. Pete area that are about to undergo similar conversions. Maximo Moorings and Huber's. Maximo will be converted in 18 months and Huber's is closed and new construction has already started. At Pasadena Y & CC, the marina has 88 slips. On December 31, 2004, it was full with a waiting list. 23 owners of boats currently in the marina purchased their slips. The marina now has over 40 vacancies.

My point is this. It appears that there will be fewer and fewer choices/options for anyone but the super-rich to berth a boat in some parts of Florida. Slips in the Tampa Bay area are at a premium and this just exacerbates the situation.

I moved to Twin Dolphin in Bradenton because it is the "town" marina and will not be converting to dock-uminiums.

Anyone else been impacted by this situation?

[ssullivan]

I'm going to withold my comments, since I have already built a reputation on here for being a whiner.

I'm sorry to hear even more options are being close to us "regular people." Such a shame...

I have heard of this happening in many places, actually.

[delmarrey]

They also sell slips here in Seattle. But not at such an extream price.
How do they justify their prices?

We don't have the hurricanes here to wipe a dock like in FL. That's like buying a house in a flood plain. One storm and it's gone.

I suppose you would have to pay insurance too? Or, a rebuild fee if it were wiped out.

[Alan Wheeler]

Wow Sean?!? no don't think that. I for one don't view you as anything negative. You had a point of view and we all made varying comments about your view, not about you personaly.
And yes, much of boating is becoming more and more in the realms of the rich and famouse. It's funny, even down here in NZ, as soon as someone hears I have a 14M boat, they immediately think I am rich. If only they new the sacrifices.
Hey Gord, so when you say "Sell", selling what exactly. Do you have full legal ownership of the slip/birth for ever, untill you sell again??
Down here in NZ, we have had a similar thing happening for many years. You can lease a Marina Slip/Birth from the Marina Authority. Prices vary around the country, mine costs me about $400/mth for 14m/46ft and this is considered cheap when compared to some of the others in the country. Or I could buy the Slip/Birth and have the right to on sell it if I wish, for what ever the market dictates as a profit/loss. But I can only buy the thing for a ten year duration. After which time, I have to repurchase it again. This part I don't get, it is basicaly paying like 10yrs in advance. Yet being able to sell it and make a profit. BUT, you still pay a monthly lease. It is less than you normally would pay, and I guess would cover Marina provided services.
Maybe someone from NZ that better understands this can explain in better detail, cause it sure confuses me. You are basically paying for a hole in the water with a couple of piles and some wood floating between to make the hole.

[Wahoo Sails]

When I moved to Fort Myers, 7 years ago, there were about 4 dozen marinas in the area, and two free anchorages ... there are now only a dozen or so marinas left, and while the anchorages remain, they are now "pay for" mooring fields, all of the others marinas have been sold to become dockominiums. The problem is so severe here that a vessel wishing to visit the area, had better have reservations well in advance, or they will find no room at the inn. Anyone wishing to purchase a boat with the intent of living aboard, had better give that idea up .. the few remaining marinas that allow people to live aboard are full, year round.
As for why all of this has, and is happening ... I could rant and rave for hours ... but this isn't the place for that, so I will simply say, the situation isn't going to get any better in the forseeable future ... so our solution is simple, November of 2006, we should see the state of Florida slip behind our transom, as we head to the Bahamas ... there are no plans to see it off our bow again.
Bob & Lynn

[S&S34]

I agree. Im done with FL and wont be comming back. My mom is in naples and they sell slips from 200-500K. Then you still have to pay for the maintance fee. In dinner key marina (Miami) my brother was paying 1200 a month for a 39 footer (that was the monthly rate). Then thank god he got a yearly lease over at miami beach marina for 750 a month. When my dad brought his boat down from RI their was only enough depth in the FT. Lauderdale Muni.(Miami beach was full). HE paid 2800 a month for a 49 footer . Come on this is crazy . Talk about saving the water access for the wealthy. I pay almost 4 times as much in Miami as i did in RI. When i was in ST. Pete,FL i paid a little over double.

[Talbot]

Thanks for this "heads up" I was considering making a detour up to Florida when I do head your way, but looks like this will be impossible.