Background
BRC,
in partnership with Energy Answers Corporation, of Albany,
New York and Myron Allick of St. Croix, established St.
Croix Renaissance Group LLLP to acquire, remediate and redevelop an 1100-acre
industrial property on St. Croix, U.S. Virgin Islands ("USVI").
This multi-faceted development project will attract environmentally responsible
industrial and recreational businesses to the site, creating jobs for
local residents and economic prosperity for the USVI. This development
effort will also help to protect many of St. Croix's natural and historic
resources.
The property, which includes St. Croix Renaissance Park and Port St. Croix, is located on approximately 1,100 contiguous acres along the southern coast of St. Croix. Harvey Aluminum Corporation first developed the site in 1962 in conjunction with the USVI Government for its alumina production operations, which involved the extraction of alumina from bauxite. Since then, several other companies including Martin Marietta, Virgin Islands Alumina Corporation, and most recently Alcoa World Aluminum and Chemical Corporation have owned and operated the site. St. Croix Renaissance Group signed an exclusive contract with Alcoa in December 2001 to purchase the property and after six months of extensive due diligence, acquired the site in June 2002.
The site's numerous industrial buildings and infrastructure occupy approximately 310 acres at the center of the property. Site assets include:
- A coal-fired powerhouse capable of generating 65 MW of electricity.
- A desalinization facility with a daily generation capacity of two
million gallons.
- Undeveloped coastal areas.
- Two large cooling ponds with recreational potential.
- Large recreational area with tennis courts, a running track and pavilion.
- Walking trails through undisturbed open space.
- A deep water port.
The port consists of a channel that is 7,000 feet long, 300 feet wide and 36 feet deep and extends from the property's docks and working port facilities out into the Caribbean Sea. The port, which runs more than one mile inland from Ruth Key, a 37-acre man-made island, provides one of the best hurricane sheltered harbors in the Caribbean.
The property is located eight miles from the town of Christensted and ten miles from Fredericksted - St. Croix's two historic commercial centers. It is bounded on the west by the island's only landfill, a wastewater treatment plant and the airport. To the north is the only four-lane highway in the USVI and several residential communities. The Hovensa oil refinery, the largest oil refinery in the Western Hemisphere, is located to the east, and to the south is the Caribbean Sea.
Development Plan
St. Croix Renaissance Group's sustainable master plan for the site involves:
- Full utilization of the power generating and water production facilities.
- The creation of a "zero waste" eco-industrial
park to house industrial and commercial businesses.
- The development of vacant land for port-related value-added businesses.
- A technology park.
- Recreational facilities.
- Other commercial activities.
The site is zoned I-1 Heavy Industry, which allows for the widest range of industrial activity. Several businesses have already expressed an interest in locating their operations at the site. St. Croix Renaissance Group is also exploring the potential relocation of several existing island businesses that are currently situated in non-industrial areas to this more appropriate site.
The master plan also involves further development of the property's deep water port and dock facilities. The straight sided rock channel could easily allow for the development of more than 10,000 additional feet of dock space. Some of the potential uses under consideration for Port St. Croix include a cement distribution terminal, metals processing and recycling operations, ship servicing and repairs, a bulk materials terminal for storage and distribution, a dry dock, boat and ship building, a marina, a commercial fishing port, and a cruise ship homeport.
In addition to the deep water port, St. Croix Renaissance also plans to capitalize on the site's other natural amenities, several of which provide tremendous opportunities to develop environmentally sound recreational facilities. These facilities are likely to include an 18-hole golf course and club house, a saltwater lake for sport fishing and kayaking, a two-mile "green" hiking and biking trail, an eco-discovery center that will border the site's extensive coastal systems, and improvements to the site's existing recreational facilities.
Restoration of the property's natural systems, including 7,000 linear feet of coastline, mangrove wetlands, and several historic ruins, is also integral to the proposed plan.
