(Above) Rendering of a new marina that will be built this year on the north side of Navy Pier. (Click on image to view larger version.)
Lake Michigans first all-transient marina, says NPM Venture LLC, will charge by the hour, day, or week.
17-Feb-20 A new all-transient, public marina that will be built on the north side of Navy Pier will have an $11 million per year economic impact on Chicago, according to the project developer.
NPM Venture LLC says the money will come from taxes boat owners will pay to moor at the marina, along with other taxes generated by increased boating activity.
The impact of the marina is far-reaching, said Randy Podolsky (left), 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 privately-funded marina will accommodate boats up to 130 feet in length, offering amenities such as a lounge, store, and Wi-Fi, but not fuel. Boaters can pay by the hour, day, or week.
It will be Lake Michigans first dedicated all-transient marina, says Podolsky, attracting boaters from Michigan, Wisconsin, and Indiana. He says construction will begin this fall and be completed in time for the 2021 boating season.