From 2020 stockholder meeting:
We are in the planning and engineering stage of a new marina on the Intracoastal Waterway immediately adjacent to the planned Latitude Margaritaville community. This new marina will start to unlock the 15 miles of frontage that we own on both sides of the Intracoastal Waterway.
Now that we've mentioned the marina adjacent to Latitude Margaritaville on the Intracoastal Waterway, the question is, how significant of a project in terms of capital do you expect this project to be?
MR. GONZALEZ: We don't know yet, we are still in the planning and engineering stage of that marina. However, we do know this, based on market studies that we have done our own local knowledge and discussions with the boating industry, we believe that there's significant demand for a marina on the Intracoastal near the mouth of the West Bay.
There are no marinas anywhere near there. So, as we continue the planning and engineering of the marina, that demand continues to be what we believe it is, the marina could be of a pretty good scale. But, it's too early right now for us to predict the capital that we're going to need since we're still in the planning and engineering stage.
MR. BERKOWITZ: And I'll expect, as usual, we will take a phased approach?
MR. GONZALEZ: Yes. We believe that the greatest demand is for dry boat storage, so the, the planning and engineering that we're currently performing has a phasing component where we would meet the immediate market demand, then and as that demand grows over time, we would phase in other components.
MR. BERKOWITZ: Would the marina be part of a larger commercial village? MR. GONZALEZ: Yes, we're planning a marina village right on the Intracoastal, so it won't just technically be a marina. There could be other components that are complimentary to the marina right on the Intracoastal.
MR. BERKOWITZ: How many acres do we have this entitled area?
MR. GONZALEZ: Over a hundred thousand acres.
MR. BERKOWITZ: With over a hundred thousand acres, we could have many, many phases depending upon the natural demand in which we see.
MR. GONZALEZ: Yes. We own approximately 15 miles of frontage on the Intracoastal Waterway, both sides of the Intracoastal Waterway. This marina that we're currently planning and engineering at Latitude will really be the first time that we unlock the value of the Intracoastal Waterway on our land holdings.
We are in the planning and engineering stage of a new marina on the Intracoastal Waterway immediately adjacent to the planned Latitude Margaritaville community. This new marina will start to unlock the 15 miles of frontage that we own on both sides of the Intracoastal Waterway.
Now that we've mentioned the marina adjacent to Latitude Margaritaville on the Intracoastal Waterway, the question is, how significant of a project in terms of capital do you expect this project to be?
MR. GONZALEZ: We don't know yet, we are still in the planning and engineering stage of that marina. However, we do know this, based on market studies that we have done our own local knowledge and discussions with the boating industry, we believe that there's significant demand for a marina on the Intracoastal near the mouth of the West Bay.
There are no marinas anywhere near there. So, as we continue the planning and engineering of the marina, that demand continues to be what we believe it is, the marina could be of a pretty good scale. But, it's too early right now for us to predict the capital that we're going to need since we're still in the planning and engineering stage.
MR. BERKOWITZ: And I'll expect, as usual, we will take a phased approach?
MR. GONZALEZ: Yes. We believe that the greatest demand is for dry boat storage, so the, the planning and engineering that we're currently performing has a phasing component where we would meet the immediate market demand, then and as that demand grows over time, we would phase in other components.
MR. BERKOWITZ: Would the marina be part of a larger commercial village? MR. GONZALEZ: Yes, we're planning a marina village right on the Intracoastal, so it won't just technically be a marina. There could be other components that are complimentary to the marina right on the Intracoastal.
MR. BERKOWITZ: How many acres do we have this entitled area?
MR. GONZALEZ: Over a hundred thousand acres.
MR. BERKOWITZ: With over a hundred thousand acres, we could have many, many phases depending upon the natural demand in which we see.
MR. GONZALEZ: Yes. We own approximately 15 miles of frontage on the Intracoastal Waterway, both sides of the Intracoastal Waterway. This marina that we're currently planning and engineering at Latitude will really be the first time that we unlock the value of the Intracoastal Waterway on our land holdings.
