According to Caribbean Journal, U.S. Virgin Islands Governor John de Jongh and the principals of Mandahl Bay Holdings have signed an agreement to develop “Port of Mandahl,” a $487 million resort community on the northern side of St. Thomas.
At the core of that project will be a 300-room Hyatt Regency Hotel, which will be the first new hotel on St. Thomas in two decades. According to the government, Mandahl Bay Holdings will begin with a $209 million construction investment in the first phase of the project.
The project is also slated to include a 50-slip marina, private estates and marina townhouses and 48,000 square feet of retail and commercial space, all in phase one, according to the report.
The second phase will include improvements to Mahogany Run Golf Course and a new 30,000-square-foot convention facility. According to the Caribbean Journal report, construction on the 400-acre development is slated to begin in 2016, with eventual plans for more than 700 permanent employees at the project.
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