In 2016, Urban Commons, a real estate company, bought the lease, which extends to 2082, out of default. The lease obligates them to perform the ship’s daily upkeep and long-term projects. The operator generates funds through its events, the hotel bookings, and passenger fees from the nearby Carnival Cruise terminal, which is the largest source. Taxpayer funds are not used to maintain the ship. Urban Commons had plans to extensively renovate the liner and to redevelop the adjacent of parking with a boutique hotel, restaurants, a marina, an amphitheater, jogging trails, bike paths and possibly a huge Ferris wheel, all at a cost of up to $250 million.