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July 29, 2004

Lowenstein buys 17 acres on East End Developer, V.I. government await appraisals in fight over ownership

From the daily news:

"ST. THOMAS - Developer Alfredo Lowenstein has purchased 17 acres of East End land near Vessup Beach and Muller Bay for $3 million.

But Lowenstein's plans to build homes and condominiums on the land may not become reality. The V.I. government has earmarked $3 million to buy the land by eminent domain.

"Now we'll have to wait to see what happens with the government," Lowenstein said Tuesday."

What do you think of this whole story? I have a comment up on VirginIslandsMLS.com - feel free to add to the discussion.

Posted by afinta at July 29, 2004 01:35 AM