Apr 20, 2023 | Island News
WAPA plans to install substantial amounts of solar and wind energy facilities in the next two years! Great news on the recent announcements of power purchase agreements for the wind and solar projects on St Croix, St. Thomas, and St. John! According to an article on VI Consortium, the governing board of the VI Water and Power Authority (WAPA) approved contracts that include wind farms on St. Croix and St. Thomas, as well as two solar parks on each of those two islands, and one on St. John. When completed, the wind and solar projects will provide as much as one third of the territory’s annual energy needs according to WAPA CEO Andrew Smith. Read the full article here.
Mar 28, 2023 | Island News
On St. Croix, we are generally seeing homebuyers putting less money down now compared to 2 years ago, similar to what is happening in other US markets. According to a report from Redfin in March 2023 that looked at 40 of the most populous metropolitan areas in the US, and records indicating homebuyers who took out a mortgage, the typical down payment of a US homebuyer has fallen 10% from a year ago for the purchase price of the house. The median down payment is now 10% of the purchase price of the house, off its peak of 17.5%, (which amounted to $65,000), in May 2022. You can find the full report on Redfin and a good summary in this Axios article.
With elevated mortgage rates compared to years past, and home prices staying steady, buyers are facing higher monthly mortgage payments, and therefore more constrained in what they can afford to put down, as pointed out in the Axios article. On St. Croix, we are also seeing some earnest money deposits less than 10% for some higher price properties.
What does this mean for homebuyers? Whether you are searching for a modest home or financing a premiere property, it’s still possible to get your offer accepted with a smaller down payment compared to one or two years ago.
#homebuying #mortgages #downpayment #stcroixusvi #virginislands #coldwellbanker #realestate #realtor
Mar 22, 2023 | Island News
The Buccaneer Beach & Golf Resort and V.I. Department of Tourism shared news about the improved flight connectivity to St. Croix in a recent article on St. Croix Source! This is excellent news! Here are the highlights:
American Airlines
- Operate twice daily in their St. Croix service, including flights which arrive in both the afternoon and evening and depart St. Croix early morning and in the afternoon. There is convenient inbound and outbound connections to and from a vast number of U.S. cities, including the west coast!
- Serve St. Croix’s Henry E. Rohlsen Airport (STX) from Miami (MIA) with twice-daily flights through the summer peak. Service will scale back to daily service in the fall. Then in early November, twice-daily flights resume to meet the holiday demand, including Thanksgiving and Christmas. Weekly Saturday service is available for visitors originating in or transiting through Charlotte, N.C., throughout the year with some expected reductions in the fall.
Delta Airlines
- Operate flights five days per week through early April from Atlanta, with weekly Saturday service scheduled from mid-April through the summer as well as certain periods in the fall. Daily flights will be available to meet the high travel demand from mid-December 2023 to early January 2024.
Spirit Airlines
- Offers daily nonstop service to St. Croix out of Fort Lauderdale, Fla.
#stcroixusvi #virginislands #tourism #flights
Mar 21, 2023 | Island News
A newly restored commercial space in Christiansted has injected a breath of fresh air in the historic downtown area. The Loft on Company Street is the latest project of Crucian entrepreneurs Danny Deterville and James Eugene. This multi-use loft building is a testament to hard work and determination, housing four unique businesses under one roof which includes an Internet café, open-air courtyard space, loft apartments and co-working space. Their purpose for this building was all about bringing back to our historic towns the energy and prosperity the island experienced in the 1970s and 1980s where people lived, worked and Deterville first identified the building as a potential way to fulfill his dream when he moved back to St. Croix after graduating from college. Over twenty years later, that dream has become a reality. Thanks to financing through the Economic Development Authority (EDA), Deterville & Eugene have developed 50 AB Company Street into a people oriented space for like-minded individuals where collaboration and networking can meet to allow the betterment of the community in a social setting.
Café 50 is an indoor/outdoor Internet cafe that offers coffees, pastries and other light fare Monday through Saturday from 7am to 3:30pm. Social Beer Garden comes to life with its sophisticated ambiance in the open-air courtyard. Tuesday through Saturday, guests can enjoy handmade cocktails, wine and beer while listening to smooth sounds of jazz and Afrobeats music. Live entertainment can be heard several times a month with plans on booking off-island talent to add to the live entertainment schedule.
The added charm of the building is found within the walls of the second floor. Three loft apartments offer comfort and luxury within 600 square feet each. Each space features interior metal flooring, full size soundproof windows, air conditioning, washer and dryer, a fully equipped kitchen with state-of-the-art appliances and dedicated parking. The lofts are rented on a short-term and long-term basis.
The entrepreneur space, commonly referred to as the “E-Space,” is a deluxe incubator facility that features eight-cubicle pods where entrepreneurs and creatives of all specialties can come to grow their businesses and hone their crafts using the spaces. To learn more about The Loft on Company Street, visit the Instagram pages for the various businesses at @Cafe50_VI, @STXLoft and @TheSocial.BeerGarden. You can also call 340.690.0227.
Article written by Anquanette Gaspard (agaspard@cruzanfoodie.com) for Coldwell Banker, St. Croix Realty
#stcroixusvi #viriginislands #christiansted #localbusiness #historicdowntown
Mar 21, 2023 | Island News
It’s great to see another article spotlighting St. Croix as a fantastic travel destination! A travel writer from Travel Weekly recently published article where she highlighted her experience on St. Croix and said, “I couldn’t imagine a better spot to reflect on both the tranquil pace of island life and the rich history that had revealed itself to me just a few steps away.”
As the writer pointed out, St Croix currently is “experiencing a bit of a resurgence, with the help of revamped hospitality businesses and pioneering new conservation efforts that are preserving what was always perfect about it.” At the end of last year, Congress designated St. Croix a National Heritage Area, recognizing the unique confluence of historical, cultural and natural attractions (see our article about it here).
Read the full article on Travel Weekly here, where you will find references to the wonderful Alexander Hamilton walking tour in Christiansted by the Crucian Heritage and Nature Tourism, a visit to Buck Island Reef National Monument on a catamaran, and learning about coral reefs and marine life and more.
Photo from wikipedia.com
#stcroixusvi #virginislands #caribbean #tourism #islanddestination #alexanderhamiltontour
Mar 21, 2023 | Island News
The Thrillist’s recent article shares a common view that many of us who love and live on St. Croix already knows — St. Croix is a desirable Caribbean destination. Compared to the St. Croix’s other sibling islands, it is less tourist and cruise-centric and therefore sees fewer vacationers. However, with less commercialism, St. Croix’s vibrant culture, natural beauty, many outdoor activities make it ideal for visitors. As Realtors, we often meet Buyers from the states select our island for their forever home or as a second home.
As the article points out “[St Croix] a less-visited Caribbean destination is a winner in our books. It also doesn’t hurt that the tropical island abuts a turquoise stretch of the Caribbean Sea or that its 84 square miles offer a mixture of both metropolitan perks and rural retreats.” … “And with temperatures that rarely dip below 70 degrees during any season, travelers can immerse themselves in idyllic warm weather pastimes like boat rides, snorkeling, food tours, nature conservation, shopping at small businesses, walks along the beach, and much more.”
Read the full article to see the Thrillist’s review of St. Croix and suggestions for what to do on island. There are references to some of the wonderful local businesses on St. Croix. Here’s a list:
Food and Coffee:
Shopping / Gifts:
Adventure:
Boutique Hotels:
King Christian Hotel – https://www.kingchristianhotel.com/
Waves Cane Bay – https://www.thewavescanebay.com/
