One of the last native St. Johnian-owned parcels of land on the north shore is available for lease as a possible mini-eco-resortbut it is definitely not for sale.
The one-acre parcel, located at 17-1 Peter Bay, is available for lease at $7 per square foot per year and is listed by Lee Seward of Farchette and Hanley, a St. Croix real estate company.
The parcel is zoned R-2, and there are six cottages on the site. There are approved plans for the construction of additional units, which have already been permitted by the V.I. Department of Planning and Natural Resour-ces, according to Seward.
The owners of the parcel, members of the Hall family, have received offers of more than $10 million for the purchase of their land, but they do not want to sell it, he added. Members of the family sold some of its holding to the developers of Peter Bay in the 1980s.
Id discourage them from selling it, because that property is just so valuable, he said.
The one-acre parcel, which overlooks the million-dollar homes of Peter Bay, is part of several contiguous plots of land which are all owned by the same family. None of the other family-owned parcels are involved.
The plot can be leased for up to 99 years, added Seward.
Fifty years would be ideal, he said. Id want them to have it at least long enough to see a return on their investment.
High Level of Interest
There has been a lot of interest in the parcel since it was listed in August.
Ive been averaging about three phone calls a week, just from people driving by and seeing the sign there, Seward said.
The parcel could possibly be an ideal location for an eco-development, he added.
Were pushing it as an eco-type development, similar to Maho Bay, Seward said. A lot of people are interested in doing a campground similar to Maho or Cinnamon.
The parcel has several desirable features and Seward said he expects the parcel to be leased within the next six months.
I figure its only a matter of time, he said. I think something will happen with this in six months.
Its the last piece of land before the V.I. National Park, Seward said. Its the last of the Mohicans, so to speak.