U.S. Virgin Islands

Enterprise Community Partners is launching  Equitable Path Forward: Advisory Services (EPF AS), a 24-month program that will support up to eight Black, Indigenous and people of color- (BIPOC) led affordable housing organizations enhance their capabilities and strengthen their operations. 

Pennrose was selected as Master Developer by the Virgin Islands Housing Authority (VIHA) for the disaster recovery and redevelopment efforts in St. Thomas. The redevelopment efforts will serve as Pennrose’s first projects in the U.S. Virgin Islands and Caribbean and is planned for approximately 700 units on St. Thomas. Pennrose will partner with Jackson Development […]

The Michaels Organization announced that it has significantly expanded its presence in the Caribbean, with the opening of a new regional office in Puerto Rico. The office will be headed by Michaels’ newly named Regional Vice President, Larry Padilla, who will focus on the redevelopment of Michaels affordable portfolio in St. Croix and St. Thomas in the Virgin Islands, as well as on new affordable and mixed-income development opportunities in Puerto Rico.

The $28 billion is a record high and comes from congressional appropriations made by the Bipartisan Budget Act of 2018 (PL 115-123).

The announcement came last week in an interagency statement from the Federal Deposit Insurance Corporation, Federal Reserve Board of Governors, and Office of the Comptroller of the Currency: financial institutions will receive favorable Community Reinvestment Act (CRA) consideration for activities that revitalize or stabilize the U.S. Virgin Islands and Puerto Rico, regardless of where the […]