December 2011
Transcription
December 2011
G G G G G G LAND-de WILDE REALTY St.Croix coldwellbankervi.com [email protected] coldwellbankervi.com/vacationrentals Buccaneer Hotel 340.718.7000 Gallows Bay Marketplace 340.778.7000 Gentle Winds Condominiums 340.719.2002 Real Estate Featuring Real Estate Market Updates and Local News of St. Croix, USVI DECEMBER 2011 reviews Casino Could Become a Gateway to Christiansted Message from Lorine… T Dear Friends, December brings for all of us on St. Croix, the fun of the Crucian Christmas Festival and the parades, warm breezy evenings celebrating the return of friends and family, and of course, presents! here’s a new group afoot in Christiansted. It’s the Christiansted Renewal Group and it has some big ideas, namely a waterfront casino, a cultural/multi-use center and a 3-story parking garage. Actually, the major players are long-time St. Croix residents with a deep love of the island and a plan to help it prosper: Christiansted 2015. Principals Duane Bobeck and Attorney Donovan Hamm have studied the revitalization of inner cities in Charleston, Charlotte, and Memphis and of the Old San Juan area of Puerto Rico. As was the case in these places, Christiansted 2015 proposes a partnership between the private sector and local government whose collective efforts would engender Christiansted “a vibrant retail and entertainment center for the local population and a world renowned attraction for tourists.” To that end, the Christiansted Renewal Group has devised a plan whereby it would commit $20 million to construction of a 35,000 square-foot casino near the Seaborne Airlines terminal and, utilizing TIF bonding, would build the adjacent cultural center and parking garage and increase downtown lighting and security. TIF (Tax Increment Financing) provides funding for improvements that will theoretically increase property value resulting in future tax gains. Additionally, a percentage of the casino tax revenue would fund low interest loans to hotels and businesses to update their properties. The Christiansted Renewal Group feels strongly that this must be a joint public/private venture and is actively seeking vocal support. Former Lt. Governor Vargrave Richards, Senator Ronald Russell, the Chamber of Commerce and numerous businesses have voiced unequivocal enthusiasm for the plan, as yet in its infancy. D Santa’s a Sailor, Too! Grand kids Eleanor & Jonah at anksgiving Each holiday season, one of our most popular and successful December events is the St. Croix Christmas Boat Parade. This year did not disappoint! On a balmy Saturday, December 10, visitors and residents alike packed Christiansted harbor to view the stunning parade of over 20 boats decked out in Christmas lights and listen to the fun and festive Caribbean Christmas music. The evening was topped off by an impressive fireworks spectacular, plus the arrival (via motorboat, of course) of the man of the month – Santa! Virgin Islands Fiscal News In an effort to avoid any layoff of government workers, Governor John deJongh Jr. and the USVI Legislature approved an 8% salary reduction for all government employees making more than $26,000 a year. Unions representing the VI Police, nurses, and teachers among others have filed suit in US District Court to stop the cost-cutting measure. Governor deJongh, Jr. has warned that a reduction of vital services as well as immediate layoffs of government workers will occur if the suit is successful. The VI government has faced a sharp decline in tax revenue due to the global recession and financial crisis of the past few years. In other financial news, the VI Legislature passed a government debt forgiveness package for both the St. Thomas and St. Croix hospitals. With just one vote against, the legislature overrode a veto by the Governor, and eliminated approximately $80 million in hospital debt owed to the VI government. Governor deJongh Jr. sharply criticized the action, claiming that waiving the debt is irresponsible and simply shifts the burden to VI taxpayers. Jeff Nelson, CEO of St. Croix’s Juan F. Luis Hospital, says the action is an important first step in returning the hospital to solvency. December Wishes With the holiday spirit in the air, I wish you all good health and lots of family fun. May your days be filled with an abundance of good cheer, peace and goodwill to all, and may the true spirit of giving, love and kindness fill your heart. Wishing you only the best this holiday season, and for a happy and prosperous 2012! All the best, Lorine Gold Coast Yachts Launches 102nd Vessel G old Coast Yachts splashed its 102nd vessel in the waters of Salt River on November 15th. Bound for Jamaica, the 65-foot catamaran, Sun Dreamer, will join a fleet of other Gold Coast built boats at Dreamer Catamarans in Montego Bay. Like the others, it will be used for day charter service. “It’s an auxiliary sailboat, which means it has both sail power and engine power,” says Rich Difede, co-owner of Gold Coast. “It has a ninety passenger capacity and is set up with a stairway to the sea.” Gold Coast Yachts exemplifies how the Crucian culture cultivates creativity and industry on island. Yachts designed and built by Gold Coast have found homes throughout the Caribbean, Mexico, Florida, Panama, Costa Rica, Cuba, Honduras and on Martha’s Vineyard. Eleven have been built for commercial owners in Hawaii. Eleven more have gone off to St. Thomas and St. John. Around St. Croix, you’ll see Big Beard’s Renegade and Adventure and Captain Heinz’s Teroro II, all brimming with snorkelers headed for Buck Island. Rich Difede and Roger Hatfield began back along by repairing boats around the island. Then one day Heinz Punzenberger approached them about designing and building a boat. “Kudos to Captain Heinz,” says Difede. “He had the faith to come and ask us to build a boat. His father-in-law looked at him like he was crazy, but he said ‘These boys can do it.’ And you still see it at Buck Island, Teroro II! It goes every day!” Twenty-six years, 42 employees and more than 100 yachts later, Greg Lee of Montego Bay will arrive on island and sail Sun Dreamer to her new home port this month. New “Visitability” Law Offers Tax Rewards L ast month Governor John deJongh, Jr. ceremoniously signed into law a “visitablity” bill that had been on the drawing board for five years. The new law will reward homeowners with a 20 percent property tax reduction for making their homes accessible to people with disabilities. A crowd collected at Government House on St. Croix to witness the signing that would make history. The bill was the first ever signed by the governor on the big island and he did so with great flourish, using a new pen for each letter of his name. “This is something I’ve been extremely committed to ever since I started to run for office,” said deJongh. The Virgin Islands Visitable Housing Design and Incentive Act establishes “visitability” standards: a stair-less entrance, a first-floor wheelchair accessible bathroom, wide entrances and doorways. “By making adjustments to doorways, pathways, interior passages, bathrooms, floor space, curb ramps and parking areas, homeowners can take advantage of a 20 percent property tax reduction,” said the governor, encouraging property owners to build or renovate with an eye toward visitability. Small Businesses Go For WISE Grants W ith a target year of 2025, Governor John deJongh Jr. aims to reduce Virgin Islands’ reliance on fossil fuel by 60%. The new USVI Wise program, short for Worthwhile Investments Save Energy, marks a substantial step toward his goal. The Virgin Islands Energy Office, Quality Electric Supply and Atlanta based Southeast Energy Efficiency Alliance have partnered to offer the WISE program, which extends grants for 40% of the cost of energy efficient improvements made by qualifying small businesses in the territory. If a business averages 30,000 kWh or less per month and either owns the commercial space or holds a long-term lease, it is eligible to apply. “Most businesses on St. Croix and St. Thomas fit in that category,” says Lindsay Houston, local Program Administrator for USVI WISE. The program, which began last June, was a success from the start. “We’ve already used up the first grant; we’re now in the second phase,” says Houston. “St. Croix folks are really getting it!” Quality Electric Supply scrutinizes a property for cost effective ways to increase energy efficiency such as better appliances, updated lighting, roof coatings, air curtains and window films. “We’ve got four engineers and an architect working on the program,” Houston says. After the team has made an assessment, it offers a menu of recommendations with prices listed at 60% of the project cost. Applicants, who must verify they can cover their portion, select their preferences. The Virgin Islands Energy Office retains final approval for the assessment. For details contact: Miguel Quinones at 340-714-8436 or Lindsay Houston at 340-773-4630 x 322. is Just in From SEA… Paul Chakroff and Christine Spector warm up their tie-dye and flower power early for the St. Croix Environmental Association’s annual bash on February 4th at the Ag Fair. This year the theme is the 1960s, so break out your paisley and beads, support Mother Earth and boogie down with us for a great cause! St. Croix Real Estate Reviews, page 2 Feature Property of the Month Classic Caribbean Home! Elegant & gracious luxury home on private 1.8 acre knoll-top in St. Croix’s most coveted gated community. Fabulous entertaining terrace with panoramic vistas, Caribbean-style Great Room, formal dining room, impeccable updated kitchen with large island & all stainless appliances, 3 bedrooms suites each with own deluxe bath. Lush tropical gardens with coral walkways & stunning views from every angle. Bonus income-producing detached guest cottage with sparkling pool, 2 darling apartments, stunning Salt River sunsets & rare 2 car garage. See it all at www.ClassicCaribbeanHome.com. 113 & 114 Judith’s Fancy. Call Lorine! MLS # 11-1806 $1,125,000 ISLAND PROPERTIES Spacious Family Home! 78 Tipperary. Well Built, 4 Bed / 2 Bath home plus 3 Bed Apartment, easy East End family neighborhood. $475,000. MLS # 11-1873 Let’s Meet on the Beach! December’s 213 Sugar Beach. 1 Bed / 1 Bath Waterfront condo, central air. All the best of the Caribbean at your fingertips! $219,000. MLS # 11-2007 DEAL OF THE MONTH Picture Perfect! Listen to the sounds of the surf from your oceanfront wrap-around gallery from this fabulous waterfront Pelican Cove 2 Bed / 2 Bath condo. Lovely views of the Caribbean waters, unit in immaculate condition, fun Caribbean décor, A/C, breezy open floor plan, plus roomy kitchen and spacious master suite. White sand beach, shining pool, restaurant & tennis all at your fingertips! Call Lorine! . $229,000 MLS # 11-1885 2 for the Price of 1! 193 Union & Mt. Wash. 1 acre gentle slope homesite with easy subdivide potential. Corner location, lovely views of Great Pond & the South Shore. $79,900. MLS 11-260. ST. CROIX REAL ESTATE MARKET WATCH CLOSED SALES COMPARISON : 11/30/09 9 – 11/30/10 VERSUS 11/30/10 – 11/30/11 Home Sales Condo Sales Land under $39,900 Land over $40,000 Commercial 2009-2010 SOLD AVERAGE DAYS ON MARKET AVERAGE SOLD PRICE 2010-2011 SOLD AVERAGE DAYS ON MARKET AVERAGE SOLD PRICE 115 49 26 61 8 301 286 266 280 217 $453,853 $203,267 $30,473 $109,722 $318,750 95 66 29 46 10 287 297 298 321 368 $443,035 $210,458 $27,700 $77,385 $800,028 Information from the St. Croix Multiple Listing Service * 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 annual sales. St. Croix Real Estate Reviews, page 3