The Virgin Islands Housing Finance Authority (VIHFA), joined by USVI Governor Albert Bryan Jr. and officials from Jackson Development Company (JDC) cut the ribbon and celebrated the completion of Magens Junction Apartments, Phase II on St. Thomas on Wednesday, November 3, 2021.
The VIHFA and JDC hosted government officials, contractor representatives, and community members to officially celebrate the conclusion of Phase II located in St. Joseph & Rosendahl on the north side of St. Thomas. Phase II is the latest project completed in VIHFA’s Public and Affordable Housing portfolio funded by $3.5 million of Community Development Block Grant – Disaster Recovery (CDBG-DR) funds and $30.4 million in Low-Income Housing Tax Credit equity.
The 9-story building houses 60-units with modern amenities such as a community room, fitness center, and library. The property is also energy independent—powered by a microgrid that uses microturbine generators, solar energy, and battery storage.
While thanking VIHFA for spearheading the process for funding projects like Magens Junction Apartments, Governor Albert Bryan Jr. remarked, “It takes a lot of work to get the funding moving for projects like this one that is almost 100% financed by assets from the VIHFA and we are all thrilled to see it come to fruition. But all of that pales in comparison to the joy of being able to turn over keys to residents and welcome them to their new home. We make sure we get it right – clean, spacious, modern, and energy-efficient apartment living for another 60 families here in our territory.”
VIHFA’s Executive Director Daryl Griffith added, “We work hard at VIHFA to make sure the Government of the Virgin Islands has the funds to commit to these essential community projects. I would be remiss, however, if I didn’t stress that none of this is possible, of course, without outstanding community partners. And this project had many. We want to make sure to thank Bob Jackson of Jackson Development Company, Hunt Capital Partners, General Engineering Corporation, and E-finity [Distributed Generation], for their hard work and dedication to make all of Magens Junction Apartments a shining example of what the VIHFA and our community partners can accomplish together – for the betterment of all Virgin Islands residents.”
With its independent microgrid, the building holds the silver level Leadership in Energy and Environmental Design (LEED) rating from the U.S. Green Build Council.
Magens Junction Apartments are income- and rent-restricted in compliance with the federal low-income housing tax credit program and Community Development Block Grant – Disaster Recovery funding. In addition, JDC has partnered with Lutheran Social Services to reserve ten percent of the units for individuals with disabilities.
Phase I, which is adjacent to the new building was completed in 2018, and construction for Phase II began in 2019. With the completion of all three buildings, this community offers housing to 108 families. The property is developed by Jackson Development Company, LLC.