Boatbuilder pulls out of deal for The Boat School - Trade Only Today

Boatbuilder pulls out of deal for The Boat School

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Luxury yacht builder and entrepreneur David Marlow decided not to purchase the Deep Cove Marine and The Boat School facility in Eastport, Maine.

City officials were stunned by the decision, not having a clue that Marlow was contemplating pulling out, city council president Robert Peacock said, although rumors had been circulating in boatbuilding communities along Maine’s coast, the Bangor Daily News reported.

Marlow approached the city last year about buying the facility for $850,000 and operating a multimillion-dollar boatbuilding school, luxury yacht production facility and maritime museum. He also initiated talks with the city about providing funding to upgrade the city’s waterfront, and even offer a water taxi service.

Until Marlow notified the city by e-mail Tuesday, plans were on track for his purchase of the facility, according to the report.

Peacock said the council has no idea why Marlow opted to scrap the project, as no city official has been able to speak directly with him.

Husson University, which had operated The Boat School for several years, said earlier this year that it no longer will lease the facility.

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