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July 29, 2004

Lowenstein buys 17 acres on East End Developer, V.I. government await appraisals in fight over ownership

ST. THOMAS - Developer Alfredo Lowenstein has purchased 17 acres of East End land near Vessup Beach and Muller Bay for $3 million.

But Lowenstein's plans to build homes and condominiums on the land may not become reality. The V.I. government has earmarked $3 million to buy the land by eminent domain.

"Now we'll have to wait to see what happens with the government," Lowenstein said Tuesday.

Click here for the whole article

Comments

I am not sure I get the governments position on this whole affair. The East End area, including the area around the Ritz is pretty commercial already - what exactly are they going to stop here? This project would create a lot of jobs, tax revenues, etc. If the infrastructure (water, sewer, etc.) can support it, what is the problem with the development? The Ritz is already a behemoth, and the rest of the area, the condos around the now defunct Seafood Jungle, etc. is in pretty bad shape. Saving Lindqvist Beach was good, and hopefully the government can properly develop that into a safe destination - but this one I am not so sure about.

Posted by: Anthony at July 29, 2004 01:31 AM
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