A long-eyed property at the Port of Fort Pierce is a step closer to servicing megayachts permanently. St. Lucie County has purchased the 12-acre Indian River Terminal there, which hosted three megayacht refits in the past two years.
According to TCPalm.com, a news site covering the region, the county still needs to perform environmental assessments and other due-diligence actions. They should take the next three months. However, the county may lease the Indian River Terminal in the interim. If the assessments go well, the reported $25-million acquisition will lead to the county immediately reaching out to owners, captains, and more to attract further business.
Besides buying Indian River Terminal, St. Lucie County bought the submerged lands around it. It additionally acquired a 10-percent stake in 67 acres at the port still owned by a family that has long refused to sell.
Officials and privately held companies have been trying to turn Fort Pierce into Florida’s next megayacht destination since the early 2000s. The above-mentioned refusal to sell thwarted some of those plans. Furthermore, a deal secured by the Indian River Terminal’s previous owner fell through last summer. Following the collapse of that deal, St. Lucie County approached the owner, according to county administrator Howard Tipton.
The city of Fort Pierce is keen to work with the county on operations, too. Fort Pierce’s mayor, Linda Hudson, tells TCPalm.com, “We want to be 50-50 partners.” The financial commitment, however, is not yet set. Regardless, the city and county want to revitalize the entire 290-acre Port of Fort Pierce. Job creation is a primary motivating factor. Specific to the megayacht market, the refit facility will take advantage of South Florida’s situation, where demand exceeds available slots.
The master plan for the entire port also includes using 20 acres the county already owns. They’re in the port’s northern section, adjacent to the above-mentioned 67 acres. They’ll join Indian River Terminal in servicing megayachts, plus performing traditional port work.
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