Earlier today, Governor de Jongh participated in groundbreaking ceremonies at Sion Hill on St. Croix where, in short order, homeownership opportunities will become available for almost 150 Virgin Islands families. 

Governor John P. de Jongh, Jr. participates in groundbreaking ceremonies at Sion Hill on St. Croix on July 29, 2010. The project will result in homeownership opportunities for almost 150 Virgin Islands families.

Listen to the Governor's Remarks .mp3 (2MB)

“Today, we stand beside acres of barren land on an undeveloped hillside. But each of these 145 empty plots will soon be ready for a family to stake claim to them; and with their own desire and hard work lay a foundation, build a house and make it a home. These 145 plots represent 145 dreams that are nearly ready to be realized by Virgin Islanders, and a new community soon to emerge on St. Croix," de Jongh said. 

The governor said that there is a great and ever-growing demand for affordable land in neighborhoods that can accommodate housing. As our population grows and becomes more prosperous, more people want their chance at the American dream. More people rightfully want an opportunity to own a piece of land, experience the profound joy of building a house on it, and raising their families in that house. 

For almost two decades now, de Jongh said, H.C. Ruparelia, and Innovative Asset Group, have been making those dreams possible by working with our local government, banks and other financiers and would-be homeowners to find the best solutions to our territory’s housing challenges. Sion Hill is the firm’s latest land development that offers Virgin Islanders reasonable prices, low down payments, fair financing for the land, and assistance in paying for construction. “Mr. Ruparelia has shown that quality homes in good neighborhoods can be developed for low to moderate-income families, as long as there is the will to do so, and all the parties can find a way to work together to make their visions a reality.” 

In other remarks at today’s ceremonies, the governor noted that the Sion Hill development is another example of the power of public-private partnerships, and how the government, working hand-in-hand with private sector entities, can best serve the people of the territory. “By providing tax incentives to Innovative Asset Group, we made it possible for the developer to offer these plots of land at affordable prices to people who are ready to make the commitment of home ownership. We will continue working together, bringing in whatever partners are necessary, to help more Virgin Islanders realize their home-ownership dreams,” de Jongh said. 

The governor also explained that the global financial crisis drastically increased the cost of development and made it extremely difficult for most people of moderate means to obtain loans for construction. The current economic reality made it necessary to seek creative solutions to these financing challenges in order to ensure this development will one day blossom into a viable community. 

“By offering benefits and tax incentives to the developer, the Virgin Islands government facilitated in-house financing for these plots through Innovative Asset Group. The Housing Finance Authority will assist potential Sion Hill landowners in qualifying for Rural Development Loans to build houses on their land. Virgin Islanders who don’t qualify for those Rural Development loans can seek construction financing elsewhere.” The homeowners can also choose the option of sweat equity—slowly building their houses with their own hands. “That option of investing your own time and labor into your home is empowering, and no doubt will help dozens of St. Croix families realize their dreams here at Sion Hill,” the governor said.

Other speakers at today’s groundbreaking ceremony included: Senator Celestino A. White, Sr. and Assistant Executive Director of the Virgin Islands Housing Finance Authority Adrienne Williams.