One year after opening, Front Street Shipyard is expanding with the purchase of a neighboring property on the Belfast waterfront.
The custom boat builder, service yard and specialty composites manufacturing facility finalized the purchase of the Belfast Boatyard last week, adding 500 feet of deep-water frontage, 22 slips and 20 moorings, according to a press release.
"We purchased Belfast Boatyard as part of a strategic growth plan," said Front Street Shipyard's President J.B. Turner in the release. "Our initial goal was to create a yard equipped to service most any yacht that visits northern New England. We've reached that goal."
The new property will eventually house Front Street's business office and possibly crew accommodations. Front Street now has 72,555 square feet of space for yacht storage and 10,320 square feet of shop space on a 6-acre property with 1,500 feet of waterfront.
Front Street currently employs 82 people, but the management team said it hopes to see that number rise with the acquisition of Belfast Boatyard and the additional work it is expected to bring. In February, Carbon Ocean Yachts, a Rhode Island company that makes lightweight performance yachts, relocated to the Front Street facility.