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SAN FRANCISCO-This city is notorious for it’s lack of physical space, so if you build it, people will come. But the question is always, “Where do you build it?” Maritime International LLC thinks it may have found the ultimate solution to the space crunch in the City by the Bay. They want to build on the water.

In what just might be the strangest real estate story of the year, Maritime has presented a plan to build a floating hotel, to be docked at Pier 35 in San Francisco. The 568-room hotel and conference center is projected to ring up $150 million in construction costs. It is planned as an 860-foot ship built as an exact replica of the Titanic. The ship shall be christened the Titanic II, in honor of its sibling, which currently rests at the bottom of the sea.

Maritime predicts that the luxury hotel project would be instantly profitable, no doubt due to the worldwide fascination with the Titanic brought on by the James Cameron film. While the developer reportedly has ties to the development-friendly Brown administration, the proposal is not without its critics. The Fisherman’s Wharf Association, as well as waterfront business owners have reservations about the project, and have criticized the Port for straying from promoting actual seafaring uses of the piers.

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