Club + Resort Business

California Yacht Club Faces Uncertain Future

By C&RB Staff | April 21, 2022

The 100-year-old organization located in Marina del Ray was sold late last year as part of a $1.7 billion deal which included self-storage firm LAACO and the downtown Los Angeles Athletic Club. Los Angeles mayoral candidate Rick Caruso’s development group is in talks with Los Angeles County officials to secure the Yacht Club’s lease, which is set to expire July 31.

The California Yacht Club is facing an uncertain future, Scuttlebutt Sailing News reported.

The club, which operates from Marina del Ray about six miles north of Los Angeles International Airport, is a prominent racing host. The organization held the 2021 J/70 World Championship and 2022 ILCA Midwinters and will soon be welcoming the 2022 U.S. Junior Women’s Singlehanded and Doublehanded Championship, Scuttlebutt Sailing News reported.

The California Yacht Club is a for-profit business, and was owned by the Hathaway family for at least four generations, Scuttlebutt Sailing News reported.

The club was sold in late 2021 as part of a $1.7 billion deal which included self-storage firm LAACO and the downtown Los Angeles Athletic Club, Scuttlebutt Sailing News reported. While the downtown club has since been sold, the yacht club is getting shopped as well, and among the shoppers is billionaire Los Angeles developer and mayoral candidate Rick Caruso.

The yacht club’s lease, which carried a minimum annual rent last year of nearly $1.1 million, is set to expire July 31, potentially unmooring it from the property where it operates if it cannot obtain an extension, Scuttlebutt Sailing News reported. Caruso’s development organization has been in talks with Los Angeles County officials to secure the soon-to-expire lease, and since he already holds parcels on either side of the club, the corner of the harbor could be the site of another one of his mega-projects.

While the developer, whose net worth is estimated at $4.3 billion by Forbes, isn’t revealing his intentions, he does do boating with his 100 million 65m yacht Invictus, Scuttlebutt Sailing News reported.

The California Yacht Club was founded in 1922 and moved to its present site in 1967.

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rick caruso california yacht club

Published on April 20th, 2022 | by Editor

Unclear future for California Yacht Club

Published on April 20th, 2022 by Editor -->

As North America’s largest man-made small-craft harbor, Marina del Rey sits roughly six miles north of Los Angeles International Airport, offering a desirable coastal community with waterfront views, aquatic sports, and award-winning restaurants.

The harbor is also home to several yachting hubs, with California Yacht Club as the prominent racing host.

The club held the 2021 J/70 World Championship and 2022 ILCA Midwinters and will soon be welcoming the 2022 U.S. Junior Women’s Singlehanded and Doublehanded Championship. Each summer it hosts the harbor’s Wednesday keelboat series.

But unique in the scope of clubs, California Yacht Club is a for-profit business, and after the Hathaway family provided at least four generations of stable ownership, this cornerstone of yachting is a rocking boat.

rick caruso california yacht club

The club was sold in late 2021 as part of a $1.7 billion deal which included self-storage firm LAACO and the downtown Los Angeles Athletic Club. While the downtown club has since been sold, the yacht club is getting shopped as well, and among the shoppers is billionaire Los Angeles developer and mayoral candidate Rick Caruso.

The yacht club’s lease, which carried a minimum annual rent last year of nearly $1.1 million, is set to expire July 31, potentially unmooring it from the property where it operates if it cannot obtain an extension.

Caruso’s development organization has been in talks with Los Angeles County officials to secure the soon-to-expire lease, and as he already holds parcels on either side of the club, the highly coveted corner of the harbor could be the site of another one of his mega-projects.

While the developer, whose net worth is estimated at $4.3 billion by Forbes, isn’t revealing his intentions, he does do boating with his 100 million 65m yacht Invictus.

The California Yacht Club was founded in 1922 and moved to its present site in 1967, offering one of the finest boat anchorages along with elite services for junior and adult membership.

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Billionaire’s Boat Makes Big Splash

After years of breaking new ground on land, Rick Caruso has set course to sail new waters at sea.

The billionaire L.A. developer of the Grove and Americana at Brand wants to be one of the first to park a megayacht in Newport Beach’s harbor.

The 215-foot craft, named Invictus, was built in Seattle’s Delta Marine shipyard earlier this year and set to sea under Caruso’s ownership last month.

He has requested permission to moor the boat in Newport Beach’s harbor for several days for a christening celebration. If granted, Invictus would be the largest boat in the harbor – by perhaps as much as 65 feet. The boat is so big it could not fit in either marina in Long Beach, although it could squeeze into Marina del Rey.

Paul Blank, a Newport Beach harbor commissioner, said he hopes the city can accommodate Caruso’s request.

“It’s an extraordinary experience to have a boat like that around and we hope other high-profile-boat owners will make us a stop on the journey as well,” Blank said.

Others viewed the possibility similarly.

“I think it’s great for the harbor,” said Charlie Sharp, manager of the Newport Beach Yacht Club. “I don’t think we’ve ever had a ship in here that big and I think it would be pretty and people would like to see it.”

Indeed. Invictus, finished in walnut burl, crotch mahogany veneers and Italian marble, has 12 guest cabins, an on-deck gym, theater with stadium seating, fold-down cabana and sundeck with hot tub as well as a grand piano in the main salon.

The short-term request for mooring is unusual but the Newport Beach Harbor Commission said that it will discuss the request at its meeting this month.

Caruso could not be reached for comment. It was unclear where the yacht will be permanently moored.

– Jacquelyn Ryan

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Community Corner

Megayacht arrives in newport harbor, the 216-foot invictus will anchor off lido island for 16 days..

Nisha Gutierrez-Jaime's profile picture

Nisha Gutierrez-Jaime , Patch Staff

rick caruso california yacht club

A brand new megayacht anchored in Newport Harbor Friday, despite concerns from some residents. Invictus, a 216-foot-long yacht owned by L.A. developer Rick Caruso, arrived in Newport Beach on Friday evening. Earlier this month the Newport Beach Harbor Commission approved a pilot project to allow megayachts to anchor in Newport Bay. Some residents have opposed the megayachts saying the large vessels will be bright, noisy and fume-generating intrusions on Newport Bay. Harbor Commissioner Brad Avery told the Orange County Register the megayachts permission was granted on a trial run basis. “We’re a world-class harbor,” Avery told the newspaper. “We have a strong boating community and what better way to signal that then by welcoming the latest and greatest vessel from an American shipyard.” Caruso reportedly has plans to host a small wedding on Invictus this fall, and will anchor off Lido Island for 16 days. Along with the Invictus, a 130-foot yacht will also be temporarily mooring in Newport Harbor for a short period of time at the end of September.

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Is Newport Harbor big enough for Rick Caruso’s mega-yacht?

Newport Harbor is expected to play host to a couple of mega-yachts in the near future, an not everyone is happy about it.

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A pair of mega-yachts, including billionaire developer Rick Caruso’s new 216-foot vessel, will glide into Newport Harbor next month, and not everyone is thrilled with the pending visit .

Caruso’s yacht, the Invictus, is expected to be anchored off Lido Isle for 16 days during a two-month stretch, in part for a gala christening party.

The owner of a second boat, the nearly 130-foot Marama, wants to anchor in the harbor for five days to host a private wedding. The boat’s owner wasn’t identified.

Though the Newport Beach Harbor Commission has approved the arrival of the big boats as part of a trial to see where the harbor could host visiting mega-yachts, at least two residents hope to prevent the boats from anchoring in front of their homes.

“This is just a trial, they keep assuring us of that,” said Pamela Whitesides, who lives in a waterfront condo that overlooks the harbor. “But it’s a trial to make it permanent.”

Residents have until Wednesday to lobby council members for an appeal of the commission’s approval, which would be heard during the Sept. 10 meeting, said the city’s harbor resources manager, Chris Miller.

Whitesides and neighbor Judy Cole fear the yachts will be noisy and emit generator fumes. They worry too that the commission’s swift decision came without proper review or input from residents.

“I wish we’d had more information and more time,” agreed Karen Rhyne, the only harbor commissioner to dissent in the 5-1 August vote approving the visit.

Vessels can only be moored or anchored in designated areas, according to the Harbor Code, which is why the visiting boats required special permission. By comparison, commercial charter boats no larger than 130 feet are allowed to ply the harbor waters, often to host weddings, though music and even where the boats can float is regulated.

Most members of the harbor commission agreed that allowing yachts to anchor could aid efforts to make the Newport more accessible.

With its shopping, restaurants and views, Newport Beach could be a destination for those touring on their yachts, said Brad Avery, a harbor commissioner

Some visitors may also enjoy stopping to look at the impressive boats.

“We think it’s just an opportunity to see how this works, and perhaps in the future we’ll find a way to accommodate a large boat every now and then,” Avery said.

Much would need to be done to make the harbor suitable for regular mega-yacht stops, said Don Lawenz, who has lived in the area since 1957 and served on the commission in the past.

The harbor lacks a place to pump out holding tanks or hook up to electricity, he said.

The boats would also need to navigate the waterway carefully so as not to scrape the bottom.

“A lot of this stuff, Newport’s just not suited for it,” Lawenz said.

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COMMENTS

  1. Billionaire LA Developer Rick Caruso Poised To Control More ...

    Billionaire LA Developer Rick Caruso Poised To Control More County Marina Property. Approval Comes as Mayoral Candidate Does Not Get Lease for California Yacht Club. Developer and mayoral...

  2. California Yacht Club Faces Uncertain Future - Resort Business

    Los Angeles mayoral candidate Rick Caruso’s development group is in talks with Los Angeles County officials to secure the Yacht Club’s lease, which is set to expire July 31. The California Yacht Club is facing an uncertain future, Scuttlebutt Sailing News reported.

  3. Unclear future for California Yacht Club >> Scuttlebutt ...

    While the downtown club has since been sold, the yacht club is getting shopped as well, and among the shoppers is billionaire Los Angeles developer and mayoral candidate Rick Caruso.

  4. Billionaire’s Boat Makes Big Splash - Los Angeles Business ...

    After years of breaking new ground on land, Rick Caruso has set course to sail new waters at sea. The billionaire L.A. developer of the Grove and Americana at Brand wants to be one of the first...

  5. INVICTUS Yacht • Rick Caruso $100M Superyacht

    Powered by twin Caterpillar engines, the yacht can achieve a top speed of 16 knots and has a cruising range of 5,000 nautical miles. Interiors, designed by Diane Johnson Design, include a cinema, gym, pool, elevator, and beach club, with accommodation for 12 guests and a crew of 18.

  6. Billionaire LA Developer, Mayoral Candidate Rick Caruso ...

    Billionaire LA Developer, Mayoral Candidate Rick Caruso Explores Control of County-Owned California Yacht Club Site. Creator of Popular Open-Air Shopping Centers Has Been Active in Marina...

  7. Megayacht Arrives in Newport Harbor | Newport Beach, CA Patch

    Invictus, a 216-foot-long yacht owned by L.A. developer Rick Caruso, arrived in Newport Beach on Friday evening. Earlier this month the Newport Beach Harbor Commission approved a pilot project...

  8. Rick Caruso faces fight against his mega-yacht in Newport Harbor

    The second yacht owner, billionaire developer and potential Los Angeles mayoral candidate Rick Caruso, plans to spend 16 days anchored over a two-month period, Avery said. Caruso plans to...

  9. Rick Caruso to be allowed to moor mega-yacht in Newport Beach

    Billionaire developer Rick Caruso will be allowed to moor his 216-foot mega-yacht in Newport Beach after obtaining a special permit from the city.

  10. Is Newport Harbor big enough for Rick Caruso's mega-yacht?

    A pair of mega-yachts, including billionaire developer Rick Caruso’s new 216-foot vessel, will glide into Newport Harbor next month, and not everyone is thrilled with the pending visit.