Timbo,
The Islander Resort seems to be pretty cool. Nice pool, hot tub, large grounds and neat atmosphere. Not sure if they are offering a discount and it is the A's HQ (I think).
www.islanderfloridakeys.com No vacancies that week-end. A little pricey too. It is high season in the Keys, rooms are at a premium.
The regatta location, " Founder's Park(?)", has excellent day facilities: beach, pool, tennis, skate boarding.
If you can find a motel close to the site, you'd do well to grab it.