Riva Yacht Club Proposes €2B Renovation of Olives Beach Headquarters

“Olives Beach is the natural headquarters of the Fraglia della Vela Riva, and for this reason, we are willing to commit ourselves to renovating and managing it.” This was stated by Amos Vacondio, president of the historic Riva Yacht Club, who on Friday evening, during a press conference, provided details about the proposal made to the municipal administration a few days ago.

“The estimated expenditure to realize our idea — he explained — is around 2 billion euros. This money will be used for the complete renovation of the structure, bringing the premises up to code, and for the adaptation (we need to increase the depth, ed) of the semicircular internal water mirror where approximately 25 boat slips will be created.

We have carefully evaluated the economic aspects with a banking institution, and the project is feasible. All of this in exchange for a concession of the spaces for a period proportional to the investment. If, as the Province, as concretely proposed by Sports Councillor Iva Berasi, were willing to cover 80 percent of the overall cost, we would also be willing to pay a rental fee to the municipality.”

History and importance of the Fraglia della Vela Riva

The Fraglia, in short, boasts a tradition of over 70 years, noble origins (Gabriele D’Annunzio being president ad aeternum), the prestige of the competitive events organized, and an undeniable weight in the local tourist economy. It aims to make that leap in quality that would not only consolidate but also improve its already excellent position among international sailing clubs.

(It should be remembered that in 2003, it will host the “Match Race” World Championship grade 1, with all the protagonists of the America’s Cup). “However,” concludes the president, “we must not forget that for our activity, it is vital to still have at least the current parking spaces (in the same areas, with better rationalization, around seventy could be created, ed), and our proposal also considers this aspect.” We just have to wait.