Florida marinas moving to "rackominiums"

from Boating Industry news (12/2):

Florida marinas modify their sales strategy
Boating Industry
Tuesday December 2, 2008

"TAMPA, Fla. — The rackominium-dockominium concept has been put on hold at the Tampa Harbour Yacht Club, which is turning from sales to leases to stay afloat, the Tampa Bay Business Journal reported in a recent story.

The club — one in a network owned by Yacht Clubs of the Americas — recently decided not to close on any of its preliminary sales of wet slips and rackominiums." ...

for the complete story

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from the Tampa Bay Business Journal (12/1):

Friday, November 28, 2008 | Modified: Monday, December 1, 2008 - 5:08 PM

Credit squeeze hammers sales of Tampa Harbour Yacht Club
Tampa Bay Business Journal - by Jane Meinhardt Staff Writer

KATHLEEN CABBLEFriday, November 28, 2008 | Modified: Monday, December 1, 2008 - 5:08 PM
Credit squeeze hammers sales of Tampa Harbour Yacht Club spaceTampa Bay Business Journal - by Jane Meinhardt Staff Writer

"Tampa Harbour Yacht Club will lease instead of sell wet slips and dry storage space.
View Larger TAMPA —The rackominium-dockominium concept is sunk, for now." ...

"“We initially had about 90 sales,” said Jon Finstrom, president of YCOA. “Of these, for a variety of reasons, some couldn’t close and some wouldn’t. We made the decision not to close any and switch to rentals. We are still working through some issues with our lender, which has been a very good business partner.”" ...

"Buying space for a boat at the club as YCOA initially planned was not cheap. Depending on the size and location, rackominiums prices start in the $100,000 range. Wet slips — dockominiums — are priced by the linear foot, with prices ranging from $7,250 to $10,000 per foot."

for the complete story