Retired ferry offered by Pacific Marine Foundation for conversion

For Immediate Release

SEATTLE/EWORLDWIRE/June 24, 2009 --- A Seattle Marine Foundation is adding a new twist to the concept of recycling. The Pacific Marine Foundation is offering a former Washington State Ferry for conversion into a floating hotel, high-end sport fishing camp or even a unique private floating home.

"We believe the M/V Olympic would make a great floating hotel, and could be a unique addition to the waterfront of any seaside town," says Richard Wallace, director of charters and sales for Pacific Marine Foundation.

"Some of these retired ferries have actually been turned into floating ballrooms and convention halls with minimal conversion costs," says Wallace, noting that Olympic's passenger deck still is equipped with snack bar and grill.

"With construction costs at an all-time high, recycling the ferry's industrial-strength steel structure for conversion to a camp, offices, restaurant or waterfront home will save many thousands for her new owners," Wallace adds.

Built in 1937 in Baltimore, Md., the ferry was retired from service in 1997, reportedly not long after her underwater hull had been completely replated.

M/V Olympic will lose her current home by mid-summer due to a marina expansion project, so Wallace says the Foundation will entertain purchase or joint venture offers to put some life back into the boat.

"CNN recently did a report on a retired Jumbo Jet being turned into a hostel in Stockholm, Sweden," says Wallace. "Why not turn a Jumbo Ferry into a waterfront hostel in one of the Pacific Northwests picturesque towns?"

With a capacity of 605 people and 55 autos, the Olympic served various routes connecting Puget Sound locations.

Originally serving the waters of Chesapeake Bay under the name M/V Gov. Harry B. Nice in the late 1930s and 1940s, the vessel was purchased by Washington State Ferries in 1954 and renamed M/V Olympic.

The vessel currently is on auction on eBay with a Buy Now price of $199,500 USD. The Foundation will consider joint venture proposals and financing.

For more information, visit Pacific Marine Foundations web site at www.pacificmarine.org

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CONTACT:
Richard Wallace
Pacific Marine Foundation
1900 W. Nickerson
Suite 116-118
Seattle, WA 98119
PHONE. 206-227-2628

SOURCE: Pacific Marine Foundation