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The St. Thomas Source has an article up about the Thatch Cay development application:
" March 11, 2009 -- Banging the gavel a little after midnight Thursday, Sen. Alvin L. Williams announced that after six hours of debate, senators would continue discussion and possibly vote on an application for the development of Thatch Cay at another hearing scheduled for later in the month.
The meeting kicked off around 6 p.m. Wednesday, with community members -- many of whom have long spoken out against the proposed development -- packing the legislative chambers on St. Thomas. Williams, head of the Senate's Planning and Environmental Protection Committee, said later that he didn't want to rush the vote on the application, but instead give residents and senators who were not able to make it to the hearing another chance to testify and ask questions on March 27. "
This story - and the planned project - has been going on for a long, long, time. It is sort of interesting to see the developers still pushing with the current economic conditions - I would assume they have the funding to go forward - but any projects of this nature at the moment seem a little dubious to me.
CHRISTIANSTED, U.S. Virgin Islands (Reuters) - Texas billionaire Allen Stanford, charged by U.S. securities regulators with an $8 billion (5.5 billion pounds) fraud, has purchased at least $34.7 million worth of property and leased 37 acres of land for about $805,000 per year on the Caribbean island of St. Croix.
Follow the link above for the list of properties.