Queen Mary getting $250M boost with new entertainment complex
Urban Commons, the owner of the historic Long Beach cruise ship Queen Mary, received some bad news last week when a marine survey found the ship could quickly collapse if its disrepair isn’t addressed. But the L.A. investment firm seems to be taking it in stride.
Urban released a $250 million plan to Long Beach officials Wednesday that it says will help pay for the repairs on the rusting ship, the Los Angeles Times reported.
Plans call for a large entertainment complex adjacent to the ship, with a 2,400-foot-long boardwalk that has a new small-boat marina as well as cafes, bars and shops. There would be about 700,000 square feet of retail space, a 200-room hotel and an amphitheater for concerts.
Urban Commons also plans to bring in London-based Urban Legacies, which creates entertainment and sporting attractions. The firm would launch its first North American location at the site and bring in activities such as a trampoline park, zip-lining, surfing and simulated skydiving.
Revenue from the development would go toward the $289 million in repairs the 81-year-old ocean liner needs.
The ship currently generates income from visitor fees, festivals, Halloween attractions and its 314-room hotel. Revenue from the hotel and events totaled $15 million in 2014, according to the Times. [LAT] — Subrina Hudson