A 48-berth marina designed for owners of luxury yachts should be open for business in Victoria's Inner Harbour by this time next year. Alberta based Western Asset management Development Group is developing the $20 million marina which is designed for yachts between 65-140 feet long. The marina is being built partly in response to an increase in these types of yachts being built (770 last year alone). Developers of the project expect some of the owners to be from Victoria but many international "mega-yacht" owners as well as Victoria is increasingly becoming a real estate haven for the ultra-rich. Some approvals are still pending on the project including a provincial water lease.

Have a great long weekend!

[...]