Environmental issues snag boat builder’s expansion

Written by Miami Today on June 26, 2017

Despite being approved for $9.7 million in Miami-Dade industrial development revenue bonds earlier this year, SeaVee Boats has not yet closed its financing agreement with the Industrial Development Authority.

The 40-year-old custom-built boat manufacturing company is currently exploring environmental issues with the site for its new manufacturing plant, a 9.3-acre property at 11100 NW South River Drive in Medley.

James Wagner, executive director of the Industrial Development Authority, said “they did their due diligence and uncovered a problem.” The deal is set to close in the fall.

The company, owned by President Ariel Pared, is planning on growing from 160 persons to 200. It currently operates out of a 60,558-square-foot building at 6900 NW 77th Court that was also financed with $3.06 million of Industrial Development Revenue Bonds in 2004.