The developer of an all-transient marina at Chicago’s Navy Pier says it will have an $11 million annual economic impact on the city. Randy Podolsky, manager of NPM Venture, told LoopNorth.com that the marina, which will be completed in 2021, will be Lake Michigan’s first all-transient marina. It will charge visitors by the hour, day or week.
Podolsky earlier said that the marina would cost about $9 million to build. He added that the $11 million economic impact will come from taxes boat owners will pay to moor at the marina, according to the website, along with other taxes generated by increased boating activity.
“The impact of the marina is far-reaching,” said Randy Podolsky, manager of NPM Venture. “Navy Pier Marina will serve the local boaters, create jobs, create new businesses and business opportunities, support existing businesses, and generate tax revenue. Boaters, for the first time, will have an easy place to stop and spend their money locally, which will significantly increase revenue for both local businesses at Navy Pier and the city.”
The marina will accommodate boats up to 130 feet, with amenities like a lounge, store, and Wi-Fi. There will be no fuel dock at the marina.
Lou Sandoval, commodore of the Chicago Yacht Club and national director of business development for Nautic-On, said the marina would be convenient for boaters. “I think the location is unique — it’s in the epicenter of our city right next to Monroe Harbor,” he said. “The only question I would have is whether it can attract enough boaters, given that there’s been a surplus of slips at a lot of harbors in the city.”
Construction will be completed by the 2021 boating season, Podolsky told the website.