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St. Lucie County wants South Florida’s mega-yacht business

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The St. Lucie County Commission unanimously approved a plan to pay $25 million for land at the Port of Fort Pierce for conversion to a mega-yacht refurbishing center.

The county plans to hire a company to operate a mega-yacht refurbishing facility at the port to take customers from similar facilities in South Florida, which the commissioners consider over-crowded.

The commissioners agreed on a proposal under which the county will buy a 12.3-acre site at the Port of Fort Pierce, plus submerged land around the site.

The $25 million county expenditure also would include buying a 10 percent stake in 67 acres of land owned by the Lloyd Bell family. A closing is expected on Jan. 31.

An important element of Fort Pierce’s economic development plan is a revitalization of the 290-acre Port of Fort Pierce, located just north of the city’s downtown area. [TCPalm.com]Mike Seemuth

For more details from The Real Deal Miami, visit http://ift.tt/2CoU6Ab