Senator Bolques Celebrates Housing Acquisition: A Path to Homeownership - Lovenlund 1 & 2 (St. Thomas), Bellevue Village, and Calabash Boom Apartments (St. John)
Senator Bolques Celebrates Housing Acquisition: A Path to Homeownership Lovenlund 1 & 2 (St. Thomas), Bellevue Village, and Calabash Boom Apartments (St. John)
U.S. Virgin Islands – Senator At Large Angel Bolques Jr. is proud to join the Virgin Islands Housing Finance Authority (VIHFA) in celebrating a historic milestone: acquiring multi-family housing properties through an innovative partnership with Jackson Development Company. This significant achievement ensures that 315 housing units in the St. Thomas and St. John District will be rehabilitated and transitioned into affordable homeownership opportunities for residents.
"This has been a long time in the making, and I am honored to be part of the work, progress, and a moment that recognizes the fundamental right of Virgin Islanders to own their own homes," said Senator Bolques Jr. "Our residents deserve the stability and pride that come with homeownership."
The acquisition of the properties—Lovenlund 1 & 2 (St. Thomas), Bellevue Village, and Calabash Boom Apartments (St. John) was made possible by $74.3 million in federal funding from the Community Development Block Grant Mitigation (CDBG-MIT) and Disaster Recovery (CDBG-DR) programs. This investment will ensure these units are rehabilitated and transitioned into ownership opportunities for residents, fostering long-term stability and equity.
Reflecting on the history of these properties, Senator Bolques added: "After years of uncertainty, with multiple changes in property management and frequent rent increases, we are finally able to deliver on a promise to make these residents whole.
Senator Bolques also expressed deep gratitude to his colleague, Senator Marvin Blyden, for his work, advocacy, and dedication, as well as to former Senator Clifford Graham, Partner of the Jackson Development Company, the Office of the Governor, and all who played key roles in making this project a priority and reality. "This achievement would not have been possible without the collaborative efforts of the Virgin Islands Housing Finance Authority, Jackson Development Company, and our dedicated leadership. Together, we are proving that when we prioritize people, transformative change is possible."
"This isn't just about housing; it's about giving families a real chance to build stability and security for the future. It's about ensuring our residents feel valued and supported, knowing they have a place to call their own. This milestone shows what we can accomplish when we come together, and I'm excited to be part of building brighter, stronger communities here in the Virgin Islands."
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