Streamline Boats is coming to the Port of Pensacola.
Late last week, the Pensacola City Council approved the initial 10-year lease for the center console manufacturer, which currently builds 26-, 34- and 45-foot models at its Hialeah, Fla. facility.
In June, motions for approval were withdrawn over concerns about the lease’s length, the company’s financials and odors coming from the facility. But after city representatives toured Streamline’s location later in the month, a vote was rescheduled.
As a point over assignments of the lease — Streamline Boats of Northwest Florida have signed the lease with the city, a different but related legal entity of Streamline Performance Boats Corp., which is based in Hialeah — any changes in ownership need to be submitted to the Pensacola City Council for approval.
According to a final draft of the lease, the boatbuilder will pay $127,875 per year for the first five years and $255,000 annually for the second five-year term. It also gives Streamline the option to renew the lease for up to 40 years.
The site — Warehouses No. 9 and No. 10 — was abandoned in the middle of construction when a previous tenant went bankrupt. Streamline will need to complete construction within two years.
The company told the Pensacola News Journal that it plans to invest more than $1 million during buildout and will create 45 jobs within its first few years of operation.
"There's a market up there for our product," Streamline owner Ozzie Sanchez told the newspaper in May. "Our 26-foot and our 34-foot (boats) are a very marketable boat in the Panhandle. And we're also looking for a labor force. There's a qualified labor force in that area."