Developers of the Grande Bay condominiums and several dozen condo buyers have come to an agreement and avoided a hearing in V.I. Superior Court. The purchasers claimed the project is deficient in promised amenities and fails to meet environmental and safety standards.
The Virgin Islands Daily News was unable to report details of what Bay isles Associates LLP called an "amicable agreement." One owner told the newspaper it was his expectation "construction will move forward." (Click here for the full story: http://www.virginislandsdailynews.com/index.pl/article_home?id=17621407)
During an earlier court hearing, a condo buyer testified that she was in fact living in the development now and, since she knows it’s the Virgin Islands, didn’t really expect features like Internet access, parking, or the pool would be completed when she moved in.
In fact, Grande Bay’s web site is consistent with that attitude. The last "Construction Update" is for June, 2006. And when you click on the tab showing the condo resort’s "Amenities" the page is blank.
She may, in fact, have neighbors. Thursday night, it appeared there were lights on in what could have been five Grande Bay units. But the project still looks like an unfinished construction site at street level, along the waterfront in Cruz Bay.
2 thoughts on “Grande Bay buyers settle with developer”
1. Let’s see think about what could have happened. Defendant says hey folks, our construction account is a bit tight right now so can we just go with what you see not what you thought….pity please.
2. 2003 RE market good. 2008 not so good. Guess living and/or visiting myself in a shell at least let’s me think I got something of value as my RE investment shrinks.
3. Hmmmmmmm, the old stock portfolio is having a bit of jerk the last few months. I guess living and visiting in a shell is better than nothing.
4. Okay, I guess 2010 isn’t so far away that I might see a return on my investment.
5. Who needs a pool and parking anyway…..yeah, who the tourists????
Hopefully this means this project is finally on the road to completion. I know I’m in the minority, but I do think, in the end, it will look pretty good. I’m sure they will eventually landscape. Also, it will bring a lot of tax and visitor revenue to the island with a lot less environmental impact than if those same numbers of visitors were housed in private villas spread out all over the island and having to drive into town. Density is not always such a bad thing. Grande Bay is here, let’s get past the divisiveness and try to look on the bright side.