In the mid-2000s, Mr. Steeven Knight recognized an opportunity to along the coastal United States and into the Caribbean. He understood that high end waterfront residential development was consuming available coastal properties and that boaters would soon lose easy availability to the ocean. Older marinas with good locations were selling and these marinas would soon vanish, replaced by waterfront Condominium projects.

Mr. Knight’s vision was to create state-of-the-art marinas that not only provided world class amenities and service but also sold both wet and dry boat slips as fee simple real estate. These gated communities for boats were referred to as dockominiums. Slips of varying sizes would be available for the wide range of vessels. Each slip would house only the owner’s boat. Each property would be private and provide world class facilities including 150 mph wind rated, secure “barns” that would protect the vessels even during a Category 5 hurricane plus floating docks for larger vessels berthed in wet slips. Dry slips would be racked in an open beam system that allowed for easy removal and return by specialized forklifts. Wet slips would have full utility service including metered electric and pump out.

Each marina was to be a “Gated Community”, fully private and secure for members and guests only. As with all these communities there would be a monthly HOA fee to cover operating costs. Amenities included fuel docks, ship stores, restaurants, bars, meeting facilities, transient slips, office space, rental condominiums, employee housing and on-site warrantied boat service. All retail amenities would be priced to owners at wholesale cost with prices set to cover costs only. Tipping was not allowed. The service model was elegant. An owner would call ahead with instructions to have his boat prepared for launch. The attendant then verified the launch time plus offered a “menu “of items the owner desired. This included fuel, marine equipment, ice, food, liquor or any other provisions. The boat was then removed from its slip via forklift and placed in a transient wet slip and the staff inspected the boat prior to launch. When the owner arrived, he was met by a valet who handled any luggage or equipment and then parked the car. The owner and his guests merely stepped onto the boat and the staff assisted them in getting underway. Upon return the system worked in reverse and the guests also had the option of visiting the pool or the Club for supper and cocktails if they desired. The boat was washed down and inspected for any mechanical issues then returned to its slip.

In 2004 Mr. Knight realized his vision when Sanibel Harbour Yacht Club opened in Ft. Myers Fl. SHYC experienced brisk presales with slips selling for an average of $150,000 for a 10’ x 10’ x 30 to $250,000 for a 15’ x 15’ 45’ inside of boat barn and wet slips sales from $8,000 to $10,000.00 per foot. The model worked so well that Mr. Knight secured $280 million in funding to build 4 more facilities based on the Sanibel format. Planning and construction began and by 2007 the new Clubs were nearing completion in Naples, Jacksonville, Tampa and Key West. Once again, the concept plus aggressive marketing and sales campaigns had resulted in great presales.

Unfortunately, the collapse of the real estate market and the beginning of the general recession coincided with the planned openings in 2008. The retail boat markets crumbled and outside financing for slip sales dried up also. Suddenly slip sales stopped and many buyers walked away from their deposits because of the economic uncertainty. Construction in Jacksonville was suspended but the other 3 Clubs were completed and opened in 2008 in hopes that the finished product would spur new sales. That wish didn’t come true, and Mr. Knight couldn’t meet the sales benchmarks that he and the lender had agreed to. Mr. Knight and the lender agreed to a settlement and Mr. Knight through this negotiated settlement returned the locations Key West, Naples and Tampa to the lender, who after a few years realized that a leasing program was required.  

Over time, these efforts were successful but only to the extent that the Clubs were able to operate profitably on the commercial level. Without the slip sales element, it would be impossible to recover the initial outlays. In 2015 the lender decided to put Key West, Naples and Tampa up for sale. They had determined that they would stick to the real estate business and divest the marinas at a price far less than the development cost.

Mr. Knight always felt that if the economy and specifically the real estate markets had recovered sufficiently that a return to the original business plan with some modifications would be profitable. He is confident that a strong, experienced sales, marketing and operating team can make this business model yet again return the success it had shown originally, and in fact Mr. Knights original location (Sanibel Harbour Yacht Club) re-sales are at an equal to or greater than valve today.  Given the fact that slips are at a premium, and the South Florida economy is doing very nicely this looks like the time. YCOA and its affiliate KMB Marina continue today on  this fight for marina’s and their wet slip and dry preservation.

He is the onsite construction manager and has a variety of responsibilities in the day-to-day routines including scheduling, budgeting, hiring, negotiating and overseeing the health and safety practices of a construction project. Myers has experience in operating heavy equipment, grating process, hands on builder, and a pipe welder by trade. He has worked for multiple refineries and plants across the country and worked for Phoenix Resorts in Gulf Shores, Alabama building high rises.