Madeira Beach city commissioners have approved the acquisition of a 4.6-acre waterfront property at 555 150th Avenue for $18 million USD. The purchase aims to expand marina facilities, create a public works facility and develop the waterfront for recreational use.
According to the Tampa Bay Times, the unanimous 5-0 vote finalises the agreement with Madeira Beach Project LLC. The contract requires a $50,000 deposit, with closing scheduled for 22 October 2025. The purchase price is below two recent appraisals, which estimated the land at $21 million and $27.5 million.
The property is expected to ease crowding at the city marina, which currently accommodates boats up to 80ft (24 metres) in length. The marina provides fuel, pumpout, laundry, showers, a launch ramp, groceries and internet.
Mayor Anne-Marie Brooks noted that transient slips often reach full capacity, showing the need for additional space. Brooks confirmed plans to build a public works facility on the site, while also developing surrounding areas into green recreational space with additional boat slips.
Vice Mayor Ray Kerr described the acquisition as a “once-in-a-lifetime” opportunity. Kerr highlighted the potential for revenue generation and expanded services for liveaboard and visiting boaters.
Finance Director Andrew Laflin said the city will pay the $18 million upfront using reserves of $37-$40 million. He added that planning will be needed for future development costs and that the city may consider tax-exempt financing.
Environmental considerations were discussed. Community Development Engineer Marci Forbes reported that a 2018 review showed positive results and the property has remained undeveloped. Acting City Manager Clint Belk said no new surveys were commissioned, but the city had received two appraisals.
