"We have been involved with the property for a long time," said Spottswood Company Vice President Bill Spottswood.
"Obviously we feel the marina space is something we always wanted to do as quickly as possible."
The Faro Blanco property actually includes two marinas, with the other located on the Gulf side of Key Vaca.
The redevelopment of that marina is expected to be phase two of the project, according to Spottswood
, while the construction of an 88-unit hotel and restaurant near that marina will be phase three.
already has permits from the United States Army Corps of Engineers
and the Florida Department of Environmental Protection
to redevelop the docks.
"We are proceeding right now to finalize our application to submit to the City of Marathon," Spottswood
Once redeveloped, the new marina will cater to boats ranging from 30 feet to 150 feet, Spottswood
The marina will also include a new dock master's office and a ship store, that will sell fuel and other amenities.
There will also be a bathhouse and laundry facility on the grounds.
The ocean side of the project will not include a bar or restaurant, such as that planned for the Gulf side.
The developers hope to have the ocean side portion of the project done by the start of next year, according to Spottswood
, who added that while that project is going on, permits will begin being pulled for the other two phases.
"We are proceeding on a fast track to try and get the Boot Key side open," Spottswood