Seabeck Marina in the News for CK
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There’s news today about further delays in rebuilding the Seabeck Marina. Check out Brynn Grimley’s story in the Kitsap Sun. It’s been a long and circuitous road for the partners attempting to rebuild the marina, and now that they have the permits to build a new marina, apparently they can’t get private financing to allow the project to go forward right now.
Seabeck businesses adjacent to the marina are surviving, but clearly they have better hopes of drawing customers if there’s an active marina on the Seabeck Harbor waterfront than if they are dependent only on the traffic that flows through the small community.
It will be interesting to see what happens. The permits obtained by Erik Bentzen and his partners in the marina development have value. The investors could continue to push for financing to develop the marina, but as Bentzen is quoted in Brynn’s story, there’s also a possibility that they could sell the rights to develop to someone else. The investors have put money into the project for three years, with no return. And their permits will expire in two years. If they can’t get the money together to go forward with the development, they may sell out to someone who can.
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Scripps Interactive Newspapers Group
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