Rybovich owner Wayne Huizenga Jr. last week unveiled plans to build a $45 million megayacht service center on 11 acres about a half-mile north of the Riviera Beach public marina where it had previously sought to lease land from the city.
The use of about one-third of the public marina for a private megayacht center sparked a wave of public backlash and lawsuits, the South Florida Business Journal reported.
The new facility will be designed to handle superyachts up to 400 feet long that now are being serviced in Europe. But to do that on the existing Rybovich site will require dredging of an inlet cut along Peanut Island to about twice its current depth.
How that will be funded has yet to be hammered out, Huizenga said.
Work on the new superyacht center could begin within a year, he said. Construction will take an additional year, the newspaper reported.
The center is expected to create 3,400 new jobs and inject $630 million into the Palm Beach County economy.