A ship docked in Long Beach faces rough waters in its future as the iconic boat could soon be demolished.
The Queen Mary, a Long Beach landmark since 1967, desperately needs at least $23 million in repairs, according to multiple records and inspections.
Urban Commons, a Los Angeles real estate investment group, reportedly negotiated a 66-year lease. The firm created a trust to raise $250 million to spur retail development around the ship as part of a new Queen Mary Island, according to Long Beach Local News.
The trust, however, filed Chapter 11 bankruptcy in January, including their ownership of the Queen Mary.
In July, Long Beach City Council debated options for the ship’s future. City Manager Tom Modica argued that dismantling the massive monolith could cost “between $120 million to $140 million.”
“You may be able to save some if you transport it to a foreign scrap facility or you could also do artificial reefing of it,” Modica said, according to the L.A. Times.
Councilmember Cindy Allen, however, was one of many members who believed the ship hasn’t been a burden on taxpayers.
“I think most cities would die for an opportunity to have a ship like the Queen Mary,” said Councilmember Cindy Allen, according to the Los Angeles Daily News.
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