Marina del Rey : Yacht-Slip Vacancies Up

A weak economy combined with high prices has sent the vacancy rate for boat slips in Marina del Rey soaring to the highest level since quarterly surveys began in 1987.

Officials of the Los Angeles County Department of Beaches and Harbors reported this week that 310 of the 5,265 slips in the marina were empty at the beginning of July. The vacancy rate, which stands at 6%, has risen sharply this year and now is more than double the level of last September.

Eric Bourdon, assistant director of the Department of Beaches and Harbors, said the economic downturn is primarily responsible for the increase. But some members of the county’s Small Craft Harbor Commission have said high boat-slip prices are a factor.

The latest figures suggest that the recession, which hit small-boat owners last year, is now affecting owners of bigger, more expensive yachts. The vacancy rate for the largest slips in the marina, those able to accommodate boats more than 50 feet long, has jumped from zero last summer to 6.2% in July.

Despite the high vacancy rate, the average monthly cost for boat slips in the marina inched upward to $11.27 per foot at the beginning of July.

All of the boat slips in the county-owned marina are operated by private businesses on long-term leases. The county receives about 25% of the revenue generated by the slips.