Pete Davidson and Colin Jost Buy Decommissioned Staten Island Ferry Boat: 'Grand Plans'

Colin Jost and Pete Davidson are returning to their Staten Island roots.

The Saturday Night Live comedians — both of whom were born in the New York City borough — have teamed up to purchase the John F. Kennedy, a decommissioned Staten Island ferry boat, The New York Post and Vulture report.

Jost, 39, and Davidson, 28, bought the boat with The Stand comedy club owner Paul Italia, the Post reports. Italia told the publication that he, Davidson and Jost have "grand plans" for the boat.

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"The idea is to turn the space into a live entertainment event space, with comedy, music, art, et cetera," Italia said. "We're in the early stages, but everybody involved had the same ambition — not to see this thing go to the scrapyard."

Reps for Jost and Davidson did not immediately respond to PEOPLE's request for comment.

The trio picked up the ship for $280,000 at a recent auction, according to the Post, which first reported the sale on Tuesday.

The ferry, christened the John F. Kennedy, was first commissioned in 1965 and was previously the oldest ferry in the fleet of Staten Island boats before being decommissioned and docked last summer, according to New York 1. While the boat was pulled out of service due mechanical issues, the 300-foot-long vessel has the capacity to carry over 3,000 passengers.

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Now, Italia told the Post he plans to take the John F. Kennedy to a local shipyard while he looks for a permanent home for the boat.

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Davidson, who is dating Kim Kardashian, has taken his girlfriend, 41, on multiple dates in the Staten Island area, including a private dinner in November and movie night in December.

The comedian also often references the region in his comedy, creating an SNL short about Staten Island and the 2019 feature film The King of Staten Island.