PRM acquired and assembled this 13.6 acre tract of land and 11.8 acre submerged
parcel, located in the heart of the prime deepwater port in St. Thomas in the
USVI, and subsequently brought it into a joint venture with a major commercial
real estate developer. The site, located between the mega-cruise ship facility
and the commercial and government center, is the main entry point to St. Thomas
for two million cruise passengers and yacht-borne visitors a year making it a
prime location for redevelopment.
Development of the site includes a pedestrian-oriented marina and resort district-a major
social and recreational hub for the yachting and boating communities, cruise
ship visitors, land-based tourists and local residents. Plans include creation
of a deep-draft marina able to accommodate vessels over 200 feet in length as
well as the smaller, yacht-like luxury cruise ships, a scenic waterfront
esplanade which will extend over a mile along the harbor,
with retail
shops and restaurants, a private yacht club, and
luxury condominiums.
Supported by both local government and the community, the
development at Yacht Haven represent the optimal use of this large waterfront site,
utilizing the unique natural and man-made environments around Long Bay Harbor
and making a significant contribution to tourism and the USVI economy.
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