Nov 20, 2023 | Island News
This is wonderful news for the University of the Virgin Islands (UVI) and for healthcare in the territory! The UVI School of Nursing (SON) will soon have a brand-new, state-of-the-art learning facility that will train existing and future nurses. At the official groundbreaking ceremony held this November on the Albert A. Sheen Campus on St. Croix, UVI officials, government dignitaries, students, and guests gathered to celebrate the construction of the 11,800 square foot building that will serve as the learning center for nursing students and house the University’s Health Services Department. VI Lieutenant Governor Tregenza Roach said at the ground-breaking event, “We are poised to have a quality healthcare system in the Territory with these facilities at our disposal that will be critical in addressing the health needs of the people of the Virgin Islands as well as the health needs of our neighbors in the Caribbean who have no facilities that are comparable to the ones we have here.”
Read the full press release here.
Nov 20, 2023 | Island News
Congratulations to St. Croix for being selected for a major national award that will boost St. Croix’s natural ecosystems! The National Fish and Wildlife Foundation (NFWF) announced this month that 74 new grants totaling $141.3 million through the 2023 America the Beautiful Challenge (ATBC). St. Croix received a $2.1 million grant for the project, titled “Human and Nature Connections: U.S. Virgin Islands Territorial Parks, Waters, Trails, and Work Program,” which is a collaborative effort involving The Nature Conservancy, Crucian Heritage and Nature Tourism, and the Virgin Islands Trail Alliance according to an article from the VI Consortium. It also said the initiative aims to employ a youth conservation corps to restore over a quarter of the wetlands on the island. This will establish habitat corridors spanning between Altona Lagoon and Great Pond, stretching from the north to the south shores of the island. This will include new hiking trails too. An article from St. Croix Source said that the initiative, managed by the new Territorial Parks System, is slated to increase public land protection from 5 to 12%, increasing opportunities for the public to connect with nature through activities such as hiking, biking, birding, fishing and other wildlife experiences.
NFWF‘s Description of the Grant Awarded Project
Leveraging Public-Private Partnerships to Connect Conserved Lands of the U.S. Virgin Islands Grantee: Government of the Virgin Islands
Grant Amount: . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .$2,109,600
Matching Funds: . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .N/A**
Total Project Amount: . . . . . . . . . . . . . . . . . . . . . . . . . . .$2,109,600
Create the first conservation corridor that spans the length of St. Croix by partnering with local organizations and employing a youth green skills corps. Project will expand public access while stemming erosion along 2.11 miles of beach and will use environmental engineering interventions and reforestation to restore a total of 260 acres or 27 percent of wetlands on St. Croix.
(for a complete list of awardees and their projects, click here)
Photo by GoToStCroix.com
Nov 13, 2023 | Island News, Reports
Find the monthly sales data, inventory, and days on market for the St. Croix, USVI real estate market! We have downloadable Coldwell Banker real estate reports — available below for each category: Homes & Condos, Condos, Homes, and Land!
If you are not familiar with with the implications of the data, please give us a call or email us directly with any questions. We are Accredited Buyer’s Representative (ABR) and Seller Representative Specialist (SRS) and have the experience and local knowledge to help you in every step of the process. We can help you narrow down neighborhoods based on your priorities. We can also advise you on the market trends in your desired neighborhoods.
Open reports by clicking on links below:
Homes & Condos – October 2023 Area Report
Homes – October 2023 Area Report
Condo – October 2023 Area Report
Land – October 2023 Area Report
Note: The average sales price and the average days on market could be skewed greatly by only one sale or because of the small number of sales
Nov 13, 2023 | Island News
Are you thinking of moving your business to St. Croix, or beginning a new business on island? Should you lease or buy an existing building, or purchase land to build what you envision?
The location of your business will determine how convenient and cost effective it is to operate and how accessible it is to the public. These will be key factors in your decision making, along with zoning of course. As these examples of 6 Company St and 28 Diamond show, a downtown Christiansted property is perfect for a retail or restaurant endeavor, or small office space. It’s a popular location for shops, restaurants, and professional offices. The land parcel would be a great location for a business that needs to be close to busy streets, the airport, and near the deep water container port. These are two very different locations for very different types of businesses.
If you would like to discuss more about this and look at commercial listings on St. Croix, please contact us. We are experienced realtors who also represent buyers and sellers with commercial real estate needs.
For more about zoning designations on properties, see our Q&A on this subject here: https://chrisandchristiepowers.com/zoning-codes-2/
Oct 23, 2023 | Island News
Mortgage rate is an important topic for many home buyers and also for those looking to refinance their property. Many are keeping a close eye on the trajectory of interest rates as they plan their real estate purchase.
Freddie Mac started recording mortgage rates in the US in 1971. The median 30-year mortgage rate is 7.41% since the April 1971 according to an article from US News & Reports. The fluctuations from historic highs and historic lows during this period has been dramatic. According to Bankrate’s recent article, “Historical mortgage rate trends can give you a sense of how economic conditions influence the rates available on the market today. From the 1970s to present, mortgage rates have fluctuated up and down. Overall, the annual average 30-year mortgage rate has trended downward since 1972, according to Freddie Mac’s Primary Mortgage Market Survey.”
To learn more about historical mortgage rates over time, we highlighted a few articles that would be helpful to understand:
- what have the mortgage rates been historically?
- what factors effect mortgage interest rates for homebuyers?
- what factors effect mortgage interest rates for home refinancing?
The articles are:
Bankrate’s Current and historical mortgage rate trends: 1970s to 2023
US News & Reports’ Historical Mortgage Rates: See Averages and Trends by Decade
Oct 19, 2023 | Island News
Condé Nast Traveler announced in October the results of its annual Reader’s Choice Awards with the U.S. Virgin Islands recognized as a top island in the Caribbean.
The USVI has been recognized by other publications this year. Here are a sample:
- Condé Nast Traveler as a ‘Best Places to Go in 2023
- Travel + Leisure has ranked USVI as one of its 50 best 2023 destinations in its For Beach Vibes
- Yahoo! Life listed the USVI as one of the top 10 tropical islands to get to in under three hours from the U.S. mainland
- Travel Magazine voted USVI as the Best Caribbean Cruise Destination for 2023
- Frommer’s gave the territory top billing in its annual Best Places to Go in 2023
- Condé Nast Traveler editors voted USVI as having the Best Airbnb in the Caribbean
There is no better time than now to visit St. Croix! If you’re still considering what homeownership in the Caribbean can
look like for you, let us help you navigate this process. Our current listings include several exceptional properties sure to have you envisioning life’s next chapter living in America’s Paradise. Give us a call to discuss your options and schedule a showing or two; we’d love to hear from you!
