House Boat - Er, Condominium Boat?
Minnesotans take their boating and fishing seriously. Even in the wintertime, with our ice houses and snowmobiles, we practically live on the water. St. Paul real estate developer David Nelson wants to appeal to Minnesota residents by building a 180-unit floating condo community that will navigate the waterways and rivers of the United States.
He's selling the units using various ownership models, including partial ownership. Prices range from $55,000 to $1.8 million. A one-bedroom unit will go for about $400,000. The boats will cover more than 10,000 miles on all the major rivers of the U.S. He hopes to start building next year.
Nelson is in the presale stage of the marketing process and has built out model units to show prospective buyers. He is floating his model down the Mississippi River to entice buyers to the riverboat lifestyle.