Housing Authority moves forward with next phase of Luis E. Brown project
Published: September 29, 2011
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ST. THOMAS - The V.I. Housing Authority took steps Wednesday to move into the second phase - building a senior living facility - of the Louis E. Brown redevelopment project.
The federal official acting as a one-woman board for the V.I. Housing Authority, Kimberly Wize, approved multiple resolutions Wednesday which set up the corporate structure required to apply for, receive and use federal low income tax credits to finance the project.
Wize is the U.S. Department of Housing and Urban Development official who oversees the V.I. Housing Authority.
V.I. Housing Authority Executive Director Robert Graham said Phase I of the Louis E. Brown redevelopment is almost complete. The St. Croix housing project is a mixed-finance development of 102 affordable rental units on part of the 24.3 acres that used to be Louis E. Brown Villas. Hit hard by several hurricanes, the housing community has been vacant for years.
The $33-million first phase will have an office complex, community center and recreation area. Graham said the 102 units will be fully occupied by February, but residents will move in stages as each of the 13 buildings are finished. He said the first tenants should be moving in next month.
The second phase will be a 40-unit senior living center, estimated to cost about $11 million. Graham said if construction begins in the first quarter of 2012, the center should be completed by the first quarter of 2013.
Wednesday, Wize approved a $791,600 pre-development agreement with the developer to begin Phase II. The master developer for all three phases is Carlisle Development Group, a Florida company. Graham said the $791,600 will be folded into the master contract for the second phase once it is finalized.
The third and final phase of the Louis E. Brown redevelopment will be another 102 affordable housing units.
In other action, Wize:
- Approved a resolution to officially name new Chief Financial Officer Calixto Garcia to the V.I. Housing Revitalization Corp. board. The board is a nonprofit arm of the V.I. Housing Authority that works to develop property using tax credits.
- Amended the bylaws for the V.I. Housing Revitalization Corp. board to make it a five-member board. The nonprofit, which has been dormant for several years, has three members. By making increasing the board to five members, with three members who are not affiliated with the V.I. Housing Authority, it can obtain 501(c)3 federal nonprofit status, which is required to work with the tax credit program.
- Contact reporter Aldeth Lewin at 774-7882 ext. 311 or email alewin@dailynews.vi.
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