CHARLOTTE AMALIE, St. Thomas -- A deal has been struck for a $150
million redevelopment project of the former Yacht Haven Hotel and
surrounding waterfront property near the cruise ship piers in
downtown Charlotte Amalie.
The hotel has stood as an eyesore on the waterfront since being
damaged by Hurricane Marilyn in 1995.
The agreement between Insignia Nautica-USVI, a development
company, and the Save Long Bay Coalition, a citizens group that had
challenged Insignia's Coastal Zone Management permit to develop the
area, commits Insignia to improvements that include a park and
public housing properties near the hotel, more pedestrian walkways
to the waterfront and improvements to downtown Charlotte
The redevelopment project will raze the derelict hotel and build
a 160-slip marina, a yacht club, a 120-room hotel, a conference
center and retail and office space.
No timeline has been set for construction, but all parties are
anxious to "move forward as quickly as possible," according to an
To contact reporter Gay Nagle Myers, send e-mail to [email protected].