Jun 21, 2024 | Island News
The U.S. Virgin Islands is considering expanding its maritime capabilities with a new shipyard in the South Shore Trade Zone (SSTZ) on St. Croix, according to the V.I. Economic Development Authority, which commissioned a feasibility study conducted by First Marine International, a subsidiary of Royal Haskoning DHV. The VI Consortium reported recently that a feasibility study indicates a new shipyard could substantially increase employment and economic benefits in the U.S. Virgin Islands. The article points out that while the study concludes the economic viability of the shipyard, it recommends further evaluations concerning capital expenditures and exploring alternative funding sources before proceeding. The potential for private sector involvement and the development of a skilled workforce through local training and apprenticeships are seen as critical elements for the shipyard’s success.
The possibility of the shipyard bringing significant boost to local economic growth is fantastic news. Read the full article here.
Photo from VI Consortium
Jun 21, 2024 | Reports
Monthly sales data, inventory, and days on market for the St. Croix, USVI real estate market is available in our downloadable Coldwell Banker real estate reports. The is a report 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 – May 2024 Report
Homes – May 2024 Report
Condo – May 2024 Report
Land – May 2024 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
Jun 4, 2024 | QA
Question: “Besides location, price and type of home, what are some additional important questions to discuss with a Buyer?”
Chris’s Answer:
To represent the Buyer and their best interests, we also ask these important questions:
- Do you need to sell another property before you buy?
- Is there a deadline on the closure of your property here on St. Croix?
- Are there any life changes or events, such as a job change, large purchase, or retirement, coming up which could impact your buying timeline, or ability to secure a loan?
- Will you be paying cash or need to secure financing? It’s important to work with a local lender who is licensed in the USVI. We can provide you with a list and contact information.
- Is there anything else we need to know about finding you a great property here?
Contact us with any questions about real estate on St. Croix!
Jun 4, 2024 | QA
Question: “Besides looking at MLS, what else can help aid us in finding a home?”
Christie’s Answer:
Many factors contribute in assisting us in finding your St. Croix purchase. Some of them are:
- Understanding local market conditions, property values, and emerging trends allows us to provide accurate and insightful guidance to our clients. We receive monthly reports which compare one month to the same month a year ago. These reports are included in each edition of our newsletter. See the current report here.
- If you are traveling to island to look at property, we can send out an email to all Realtors on St. Croix asking if anyone has a listing coming on the market within the time you are here with your requirements and wishes.
- Our knowledge of the island helps us to find the right property for you. The island has such diversity in topography, rainfall, and the locations of different things, like towns, beaches, hiking trails, jobs, etc. For example, we were working with a couple who love to dive in Salt River and Cane Bay. We were able to find them a home near Salt River with space for them to pull in and unload all of their dive gear.
Contact us with any questions about real estate on St. Croix!
May 17, 2024 | Island News
The National Trust for Historic Preservation unveiled on May 1 it’s 2024 list of America’s 11 Most Endangered Historic Places and the Whim Museum is on the list. According to WTJX, the Whim Museum made the list because additional resources are needed to repair its colonial-era buildings that have been repeatedly damaged by hurricanes. Tiffany Tolbert, senior director for Preservation of the African American Cultural Heritage Action Fund at the National Trust for Historic Preservation, visited the museum’s 12-acre grounds to learn more about the ongoing disaster recovery efforts. and discussed resources available to help restore the hurricane-damaged buildings.
WTJX also reported that the exposure from the Whim Museum’s inclusion on this year’s 11 Most Endangered list is just one way the Landmarks Society is being put in the spotlight to receive restoration resources. Whim Museum is also slated to receive disaster recovery funding. Also the Landmarks Society recently announced that the signing of the MOU and designation of Whim Museum on the NTHP list will put the Whim Museum on a steady path toward full restoration.
We hope the attention Estate Whim Museum is receiving will bring about the much needed preservation and restoration work that it needs! Read the full WTJX article here.
The museum is the oldest sugar plantation museum in the Virgin Islands. Its purpose is to increase the understanding of a colonial sugar plantation to both island residents and visitors. Exhibits and guided tours are designed to interpret the economics of a plantation, explain the procedures used in the cultivation and processing of sugar, and describe the everyday life of the people who lived and worked there. Learn more about the Whim by visiting its website.
