ANALYSIS: Three Proposals Advance for Shrimpboat Sound Lease as Questions Emerge Over Omitted Musicians Collective Bid
Leaked internal backup materials reviewed by Above the Fold show only three proposals under consideration.
Three competing proposals to lease the former Shrimpboat Sound recording studio at the Historic Seaport are moving forward for consideration by the Key West Bight Board, but internal documents leaked earlier this week and reviewed by Above the Fold show a fourth submission from the Key West Musicians Collective was not included in materials provided to the Key West Bight Management Board.
The leaked backup documents show only three proposals formally packaged for board consideration: a unified music-studio-and-museum plan backed by local development and music-industry partners, a preservation-focused stewardship proposal and a tourism-driven wedding chapel concept. The materials do not include the Key West Musicians Collective proposal, and it was not immediately clear why that submission was not part of the board’s backup.
The omission comes as the city considers how to reuse the roughly 1,447-square-foot Lazy Way Lane building once used by Jimmy Buffett and the Coral Reefer Band.
The property has remained vacant since the Buffett estate relinquished its lease and removed studio equipment, leaving officials to determine whether the space should function primarily as a cultural landmark, revenue-generating leasehold or a hybrid of both.
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Unified proposal offers strongest financial structure
The most detailed proposal under review combines earlier competing bids from Spottswood Management and Shrimpboat Sound Key West LLC into a single concept to restore the building as a working recording studio, museum, small bar and retail space.
The plan proposes a five-year lease with renewal options that could extend as long as 25 years, with base rent beginning about 13 months after opening at $2,500 per month and additional percentage rent on certain sales.
Supporters say the concept provides operational certainty, tourism draw and ties to Buffett’s musical legacy. Critics have questioned the modest base rent and the length of the potential lease, noting that a multi-decade agreement could limit flexibility for future commissions.
The proposal also includes a commitment to direct profits from the recording-studio portion to local charities while bar and retail operations generate revenue for the city.
Preservation proposal stresses cultural stewardship
A separate preservation-oriented proposal by a group led by John Bolte emphasizes maintaining the building primarily as a creative and cultural space with limited commercialization.
Bolte said that he and long-time Buffett collaborator Jim Mayer stopped by the studio and he was considering purchasing it, only to find out that their was likely going to be a quick sale of the assets inside the building.
That submission calls for keeping the studio intact and offering access to artists while exploring modest revenue through tours or merchandise. Supporters say the approach best protects the site’s cultural significance. However, the proposal offers fewer details on capital investment, rent structure or long-term operational funding, leaving open questions about financial sustainability.
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Wedding chapel concept focuses on tourism activation
The plan outlines an estimated $150,000 to $200,000 investment in renovations and seeks a 10-year lease with a graduated rent structure during the build-out period followed by market-rate rent. Backers say the concept would quickly activate the building and generate predictable revenue, while opponents argue it risks diluting the site’s musical identity.
Questions over missing musicians collective proposal
While the three proposals were included in internal backup documents for the Bight board, a separate proposal from the Key West Musicians Collective seeking to operate the site as a nonprofit community studio was not included in the packet reviewed by Above the Fold.
It was not immediately clear whether the submission was excluded due to timing, completeness or another administrative issue. City officials did not respond to questions about how proposals were evaluated or why only three were included in the internal materials.
Long-term implications
The decision carries long-term implications for how the city manages the site and how tightly it commits to a single tenant. Long leases can provide stability and justify tenant investment but also limit the city’s ability to revisit the building’s use over time.
With competing visions ranging from cultural preservation to commercial activation, the final choice will determine whether the former studio becomes a working music venue, a heritage-focused creative space or a tourism-driven business.
The Key West Bight Management Board is expected to review the proposals and make a recommendation to the City Commission, which will ultimately decide how the publicly owned property is used.
To share your thoughts, click here to contact Bight Board members or the Key West City Commission.
They meet on Wed., Feb. 18 at 4 p.m. at 1300 White St. The meeting is open to the public and will also be live streamed on the City website.