Sept. 23, 2003 – Elie Finegold, executive vice president of Insignia Nautica and spokesman for its local subsidiary, IN-USVI, the Yacht Haven property redeveloper, said on Wednesday he is disappointed that "on the last day, at the last moment" the Save Long Bay Coalition filed an appeal in Territorial Court affecting the development.
The coalition is appealing rejection by the Board of Land Use Appeals in July of its argument that a portion of the Long Bay development planned by IN-USVI is in violation of the law. (See "Group takes CZM permit fight to court".)
Finegold said that while he wants to move forward with the project, he didn't want to comment further at this time. He noted that demolition, the next phase of the project, is very expensive. IN-USVI intends to raze all of the derelict buildings on the former Yacht Haven Hotel property and redevelop the hotel and marina as well as create commercial and office space on adjacent filled land that it has leased from The West Indian Co.
Finegold said at the end of July that he planned and hoped to have a redeveloped 160-slip marina in partial operation by late 2004. But time "is getting tighter and tighter," he said then.
Sen. Carlton Dowe, an avid promoter of capital projects, announced on the Senate floor Tuesday that he had been told of the appeal being filed. "Clearly, I am very disappointed," he said. "Let's hope they can get a speedy hearing in the court and get this project started."
Back Talk
Share your reaction to this news with other Source readers. Please include headline, your name, and the city and state/country or island where you reside.
Publisher's note : Like the St. Thomas Source now? Find out how you can love us twice as much — and show your support for the islands' free and independent news voice … click here.
