A Burger King and a Save-A-Lot Grocery are coming soon to Island Crossings Shopping Center, the St. Croix’s newest shopping center and home to Home Depot home improvement warehouse store, according to Caribbean Development Partners, the shopping center’s developers.
CDP built the shopping center from 2009 to 2011, using government-backed bonds paid through pledged future taxes, through a 2008 V.I. economic development law called Tax Incremental Financing. Home Depot was the first franchisee, but the developers always planned to try to bring in a number of chain outlets. (See Related Links below)
CDP is partnering with Honor Capital, a private equity fund, for the continued development, according to the company.
According to CDP, Save-A-Lot is the third largest grocery store in the United States, with over 1,300 stores. Save-A-Lot grocery stores have recently expanded to the Caribbean, with locations in Dominica and Aruba.
Burger King is the second largest fast food chain in the world, founded in 1954.
According to the company, CDP will be partnering with Honor Capital to help veterans become business owners, as part of their ongoing development strategy for the shopping center.
CDP is a partnership of several individuals from large stateside capital investment firms. Those include James River Capital, Stern Brothers Real Estate Finance and Boston Capital, according to documents filed with the V.I. Economic Development Authority by CDP. CDP was incorporated in the territory in September 2006 and purchased the 44 acres in Barren Spot where the shopping center is located for $2.13 million, financed by a bank loan.
Wow! Finally a change from those astronomically high Pueblo and Plaza Extra prices. I’m glad that St.Croix is getting out of the old mind frame and moving towards a future. I guess for those who like the burger joints, Burger King is a change from McDonalds and Wendy’s.
Stand firm.
How many damn grocery stores and fastfood restaurants do st.croix need ? with a population of under 60,000. Kmt !!
How about an Osco Drug or CVS to rescue us from the astronomical prices of prescription drugs that independent pharmacist here on St Croix charge individuals and insurance companies.
I am so happy happy happy that I made sure that I built my home on St. Croix. I am so happy that I did not listen to those state-side (mostly white) liars I grew up with while attending private school. By the way, I am not a racist; my wife is white. They used to tell me, “go to the states and you will be so happy there” and “it is the best place in the world to live, so much to do” and “it’s much much better than St. Croix.” I just finished a two year contract working up in Kansas, Texas, and Louisiana. What dirt hills! Hot like hell, no beach, poisonous snakes in the parks, poisonous spiders in every house, police harassment, all processed foods, white people who do not talk to anyone of color, they look at mixed couples like they are freak shows, low class people with no love of anything but guns, UFC, KFC, trucks, and high carb diets (many of them are obese). Listen good, if any of them start their glory nonsense about the USA, please don’t believe them. It is a true hell hole, the mainland. You have been warned! That is why, whenever they have to leave the islands, you see them crying at the airports.
I’m with you on that one chilliwest, but you forgot tornado alley, living in Kansas or Texas,lol. People bawling out about the amount of grocery stores, but the fact is, competition is a good thing, when dealing with food, gas, utility, clothing, education, etc….. I’m damn tired of paying $200.00 and getting three to four bags of groceries.
Stand firm.