Skip to content

Menu

LexBlog, Inc. logo
CommunitySub-MenuPublishersChannelsProductsSub-MenuBlog ProBlog PlusBlog PremierMicrositeSyndication PortalsAboutContactResourcesSubscribeSupport
Join
Search
Close

BoltNagi Facilitates $20M Transaction to Revitalize Hospital Ground Housing

By Ronald R. Pennington on June 18, 2012
Email this postTweet this postLike this postShare this post on LinkedIn

The Virgin Islands Housing Management, Inc. (VIHM), together with Reliance Housing Foundation recently announced the long awaited onset of the demolition and new construction redevelopment phase of the Emergency Housing Hospital Ground Apartments on St. Thomas, U.S. Virgin Islands.  Ronald R. Pennington, Chair of the BoltNagi PC’s Real Estate & Financial Services Practice Group served as counsel to Reliance Housing Foundation in the transaction.

The contractor, GEC, will be entering the area for staging within the next week, and will start with the trimming of trees (not cutting down) before heavy equipment is brought in. Hospital Ground Apartments will be an affordable housing development using approximately Twenty Million Dollars ($20,000,000.00) for the completion targeted date over a 20 months span.

Once completed, the Hospital Ground Apartments’ total development will consists of 54 Low Income Housing Tax Credit rental units, distributed evenly among one, two and three bedrooms with adequate off street parking said Yvonne Milliner, Executive Director of the VIHM.

“We were pleased to be a part of this transaction,”  Pennington noted, “which will bring additional affordable housing to the Territory.”

BoltNagi PC is a full service business law firm with offices in St. Thomas, United States Virgin Islands.  The firm concentrates its practice in real estate, bank, finance, corporate, tax, estate planning, commercial transaction, government relations, civil litigation, insurance, labor & employment law, business immigration, family law and children’s issues.

  • Posted in:
    Corporate & Commercial, Family & Divorce, International
  • Blog:
    Virgin Islands Law Blog
  • Organization:
    BoltNagi PC
  • Article: View Original Source

LexBlog, Inc. logo
Facebook LinkedIn Twitter RSS
Real Lawyers
99 Park Row
  • About LexBlog
  • Careers
  • Press
  • Contact LexBlog
  • Privacy Policy
  • Editorial Policy
  • Disclaimer
  • Terms of Service
  • RSS Terms of Service
  • Products
  • Blog Pro
  • Blog Plus
  • Blog Premier
  • Microsite
  • Syndication Portals
  • LexBlog Community
  • 1-800-913-0988
  • Submit a Request
  • Support Center
  • System Status
  • Resource Center

New to the Network

  • Law of The Ledger
  • Antitrust Law Blog
  • Your ERISA Watch
  • Ciric Law Firm Blog
  • Sacramento Property & Poverty
Copyright © 2022, LexBlog, Inc. All Rights Reserved.
Law blog design & platform by LexBlog LexBlog Logo