Court-appointed Receiver for Pond Bay selling...............

[Pia]

From a link provided in the St John Source.........

"Alvarez & Marsal Canada ULC ("A&M"), in its capacity as Agent to the Court-appointed Receiver of the Mortgaged Property of First American Development Group/Carib LLC, known as the Pond Bay Club, shall be conducting a sale of the Receiver’s right, title and interest in certain assets. The sale will take place at the Pond Bay Club project site on St. John, USVI from September 21, 2010 to September 24, 2010".

You can read the whole article here..........

http://www.alvarezandmarsal.com/en/canada/pondbay/

Pia

[Xislandgirl]

Wow, I looked at the list of items. I would go just to see what the furnishings are going for.

[sailorgirl]

So now the property will become a real eyesore, half finished and rotting away.

[iowaguy]

Hmmmm.....I had assumed someone would soon buy the entire project---construction materials, fixtures and all.

[PA Girl]

From the list: White drop cloth - 1, doormat - 1, misc. box of burlap - 1. Should make for an interesting auction.

[hugo]

The Government is not allowing them to transfer the development permit with the property, so currently the bank that foreclosed cannot sell anything except the unfinish-able status quo. Personally, I vastly prefer it as it is to its being finished, although it would have been nice if they hadn't gotten this far.

[augie]

I wonder how much it would cost to buy the property, raze the structures, and make it a part of the National Park?

Come on Powerball!

[jimg20]

The best we can probably do is to consider it a modern ruin. Each generation makes its own contribution to our history. Let's see if something can be learned from this chapter.

JIM

[alw1977]

Well, I suppose this answers the question "will I be bothered by Pond Bay construction if I stay in Chocolate Hole?"

[Lex]

How's Sirenusa coming along?

[California Girl]

After looking at the list of items being offered for sale, I'd say it's a home builder's dream sale!

It'll be interesting to see what happens to the "ruins."

[PA Girl]

After looking at the list of items being offered for sale, I'd say it's a home builder's dream sale!

I thought the same thing! I suspect there will be lots of new villas with nickel finish egg style interior door sets.

[parrot eyes]

curious, as when you look at the chocolate hole webcam, where exactly is this mess at?

[hugo]

i went back to look at the On-St John video of the model room with the (very) open floor plan--nothing too attractive to resist, I'd say.

[mbw1024]

curious, as when you look at the chocolate hole webcam, where exactly is this mess at?

out of site near bottom right