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New owner, big plans for historic boatyard

The iconic Merrill-Stevens boatyard in Miami has a new owner with ambitious plans to renovate the facility that has been a mainstay on the Miami River since the 1920s.

The landmark boatyard, which serviced the megayachts of the likes of Malcolm Forbes and Ivana Trump, struggled during the recession when boat repair work ground to a halt and the owners were forced to lay off employees and virtually shut down operations.

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