A hearing to consider allowing the Sirenusa condominium project to add seven units was told by the project’s developer, "There is a good chance" it will shut down if approval is withheld. The St. John Source reported Carlos Marzano, the developer, said halting would result in a loss of jobs, government revenue, and a $35 million economic development opportunity.
Marzano’s request was opposed by more than a dozen community members who attended the Senate Committee of the Whole meeting at the Legislature Building. They complained Sirenusa has created air pollution and flooding in the area overlooking Cruz Bay, while sending boulders and debris onto nearby properties. Attorney Brion Morissette said Marzano has "aggressively pushed every conceivable limit at every conceivable turn. None of us are fooled by this poppy show."
The Virgin Islands Daily News’ report of the meeting said there were supporters for Sirenusa, including dozens of the project’s workers.
Marzano’s request has some distance to go for approval. It has to be sponsored by a Senator and then win approval of the entire Senate.
At this point, I don’t think the builder will walk, it’s just a threat. Remember when Kelly Frye/Bay Isle said that if they don’t get the rezone to build 14 more condo’s, they could build a marina? Ref. Oct. 2005 Tradewinds.
Let’s spin the positive, builder walks, someone else buys the property and converts propety to much needed affordable housing.
Of course he’s not going to walk. He’s sunk a lot of money in the ground.
I just wish this project wasn’t so contentious.
The island will learn to live with it, but there are an awful lot of hard feelings.
Frank
What people are not realizing is that the real estate market on St John is dead. Their are currently 60 condos on the market – last year, only 5 condos were sold. That is a 12 year absorbtion rate!!!!
What is going to get interesting is if those who bought pre-construction begin to pull out of their contracts. We shall see how the builders hold up when the money doesn’t come in.