Dana Point Harbor to undergo $330 million renovation - Trade Only Today

Dana Point Harbor to undergo $330 million renovation

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Dana Point Harbor in southern California is moving closer to a major renovation. The Orange County Board of Supervisors recently approved a master lease agreement with Dana Point Harbor Partners that will allow a $330 million renovation of the 47-year-old harbor.

With the approval, a development group will have up to 120 days to make adjustments to the 66-year lease. The board also voted to go forward with a second lease agreement in which the county will pay $20 for the harbor’s dry boat storage, according to an article in the Orange County Register.

The renovation plan has been more than 20 years in the making. Rendering provided by R.D. Olson Development.

The renovation plan has been more than 20 years in the making. Rendering provided by R.D. Olson Development.

The project includes reconstruction of the commercial core, the east and west marinas, the Marina Inn Hotel and 52 guest slips. The first phase of construction will start with the building of a parking structure to accommodate 1,800 cars. Construction on the docks and two hotels would start within 30 months. The developer will design, fund and build the improvements, then operate those portions of the harbor on the 66-year lease, before returning the property to the county.

The renovation will include streamlined harbor operations and a reduction in county expenses from $2 billion to less than $1.2 billion. The development group will work with the city of Dana Point to make sure changes conform with the wishes of civic leaders. The city would then grant site plan approvals, which could take up to six months.

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